Builders will be bound to get registration done
Safeguarding the rights of consumers, central government has amended the 105 years old Registry Law. It will be mandatory for builders to register the farms, houses or plots in their name before building flats. Cabinet is soon going to approve this law.
In the proposed Registration law 2013 of central government, it will be mandatory for builder to get the registration done before starting any construction.
Mr Ajay Dabas of Certes Realty feels that this law will curb the popular practice of builders to escape the registration fee by finalising deals without getting the registration work done by the land owner. He further adds that this will be also secure the rights of flat buyers as earlier they had to get the registration work done by the previous owner themselves which sometimes resulted in conflicts and legal cases.
This new law will also empower the buyers to lodge the complaint with authority against the builders.