Hi Guys,

Anyone has ever done registry for BBA for under construction property. I want to go for BBA registry for my Noida flat (under construction). For under construction flats we can also register our Builder Buyer Agreement by paying 2% stamp duty. This 2% will be adjusted in 5% of Total Stamp duty payable when we register the completed flat (during possession).

This registration will keep you safe side as you have legal registered documents so in-case possession is delay OR stalled, than we can put case against builder. This BBA agreement registry will also keep us safe side that builder is bound to pay penalty charges if possession is delay.

As per "UP apartment act 2010" having a builder buyer agreement & registering is mandatory, you are supposed to get the agreement docuement, registered with authority within 4 months of execution of BBA.& do ensure that builder buyer agreement mentions "ALL" the details of Terms and conditions plus floor plan, building plan, material to be used, specifications , amenities and quality to be provided, common area and its use, built up area, carpet area, date of completion, detail of handing over of completion certificate, penalty in case of delay , etc....

Pls confirm the process if anyone has got it registered OR any person having some knowledge on registry/process.

regards,
Pradeep Sharma
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  • I have not done this, but in my opinion they should send you a copy which is already registered in one of the courts(in the builder's HQ jurisdiction) with a stamp of Rs 50 or 100. If you want to get it registered in the way you are talking then I assume someone from builder's office needs to be present too and would they go for it?
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  • I checked with lawyer of builder and they will send one of their authorized person.. But before going for registry… I want to know complete process.


    But surprise to see that hundreds of guys are buying under construction flat and no is bothered about legal and safe prospective of own investment??
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  • detail of BBA registration format
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  • Great share/information, guys :bab (6):.
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  • i never knew this, thank you...
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  • It would be good if builder can send one of their authorized guys (not anyone, so it has to be a senior office with builder's stamp or same who have been signing the BBAs) for this. Should definitely do it if you can. Where is the HQs of your builder - is it also in UP?
    What do you think about the way the builders register BBA in Delhi, just by a stamp of Rs 50 with court seal on it?

    Does anyone know anything about this kind of registration in Haryana?

    Bottomline - Fritolay dude, you have been awesome. Brings such good and important information to the forum.
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  • Originally Posted by fritolay_ps
    I checked with lawyer of builder and they will send one of their authorized person.. But before going for registry… I want to know complete process.


    But surprise to see that hundreds of guys are buying under construction flat and no is bothered about legal and safe prospective of own investment??



    HI Frito, A query regarding this. In case you have an answer, do share:

    Supposedly there are 1000 apartments in a project and only 10 out of these 1000 have registered the BBA and all of a sudden sumthing wrong happens. So in this case would justice be done to only these 10 ppl?

    I'm sorry, but not able to understand the advantages of getting BBA registered.
    I do understand that sumthing registered with GOI is more safe. But how much safe and how would it be safe wrt to situation mentioned by me above?
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  • fritolay,
    Thanks for initiating discussion on this, I was also trying to search information on this.

    I searched on IREF and found discussion about this was happening long time ago on this and venkytalks had gathered information on it
    Originally Posted by fritolay_ps
    Hi Guys,

    For under construction flats we can also register our Builder Buyer Agreement by paying 2% stamp duty. This 2% will be adjusted in 5% of Total Stamp duty payable when we register the completed flat (during possession).


    regards,
    Pradeep Sharma


    Can you share source of this information that 2% will be adjusted in final 5% registration charges, becouse Venky gave information opposite to it, that 2% will not be adjusted in final registration charges, can you please also share with everyone if there are other resitration charges along with 2% stamp duty as well, I wrote to JAYPEE and they have mentioned 10,100 extra registration charges for BBA below is mail I got from JAYPEE

    Dear Sir,
    Greetings of the day!!!

    For Builder Buyer Agreement (Sale Agreement) stamp papers amounting to 2% of basic consideration i.e.(2% of total amount mentioned in Anx.IV) is required.
    Further an amount of Rs.10,100 is required for registration and Rs. 5100/- will be the advocates fees.
    The DD for procurement of stamp papers is to be made in favor of " Sr. Treasury Officer, Gautam Budh Nagar"
    Or
    The Customer can provide the stamp to us by procuring at their end also and stamp paper should purchased from Uttar Pradesh Only.
    For any clarification regarding agreement please contact to Mr. Ajit kumar on 0120-4609000 Extn. 3754.
    Mail ID - ajit1.singhjalindia.co.in


    Regards,
    Nivedita
    Kasa Isles,
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  • Most builders are reluctant to register the BBA as that will bring them in net of UP Apartment Act, 2010 which is buyer frinedly.

    Fritolay....has your builder agreed to register BBA?

    Most Noida project builders have offices in Delhi and they prefer to sign BBA on Rs. 100 stamp paper of Delhi Govt.

    Is there any reason for this?
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  • I had called to Builder's register office in Delhi and that guy transferred call to legel dept.. they are now aware of this case but agree on BBA registry as we ( & my friends) booked 6 flats together.
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  • Originally Posted by fritolay_ps
    I had called to Builder's register office in Delhi and that guy transferred call to legel dept.. they are now aware of this case but agree on BBA registry as we ( & my friends) booked 6 flats together.



    Pls. check up if they will do registry in Delhi or in GZB/UP? I think there is some legal implication ion this....
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  • I will check it again.. we are planning to to to builder office next week and get all details.. But before the details.. I want to know the process and that's why I started this tread.


    Well ... simple legal point. Most of guys are purchasing re-sale property on POA and then selling again on POA. Everyone is aware that registry is much more safer than POA.

    As per my understanding, Agreement on Rs. 100 stamp paper may not be suitable for immovable property. Immovable property agreement should be registered within 4 month of execution of agreement and if property is under construction then BBA should also be registered in court. One of my friend asked same question on one show “Property Plus” and got advice that such agreement of immovable property should be registered as per UP appt act to avoid future hassle.

    Your 2% stamp duty will be adjusted with final registry and u only have to pay only balance stamp amount. You also get benefit of circle rates… If you register your agreement now then current circle rate will be applicable on 2% of stamp duty and in future.. only 3% stamp duty will be paid with new circle rate whatever will be there on time of possession. In recent announcement by NA, GNA,YExp authority… they have sent notification to all allottees for “Agreement to lease”.. In “Agreement to lease”, allottee has to go for registry of property within 6 month of allotment letter (Plot, Independent house, under construction flat) and registry will be done on the basis of allotment rate and not circle rate… But if registry is done after 6 month then circle rate will be applicable on stamp duty calculation.
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  • Originally Posted by ankur.jain83
    HI Frito, A query regarding this. In case you have an answer, do share:

    Supposedly there are 1000 apartments in a project and only 10 out of these 1000 have registered the BBA and all of a sudden sumthing wrong happens. So in this case would justice be done to only these 10 ppl?

    I'm sorry, but not able to understand the advantages of getting BBA registered.
    I do understand that sumthing registered with GOI is more safe. But how much safe and how would it be safe wrt to situation mentioned by me above?



    This is similier case of rent agreement...

    As per law, all rent agreement which is for the period of 11 months + should be registered in local court by paying 2% stamp duty of total rent agreement amount. But most of guys are just using Rs. 50 stamp paper for agreement between landlord and tenant.

    In case any dispute in future between landlord & tenant…… I am not telling that landlord will not get legal/judicial benefits BUT after registered rent agreement… he will be more safe side in future.
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  • Originally Posted by SMJ2011
    Most builders are reluctant to register the BBA as that will bring them in net of UP Apartment Act, 2010 which is buyer frinedly.

    Fritolay....has your builder agreed to register BBA?

    Most Noida project builders have offices in Delhi and they prefer to sign BBA on Rs. 100 stamp paper of Delhi Govt.

    Is there any reason for this?


    Agreement should be registered on local judiciary/court where property is situated and not where is registered office of builder… If that is the case….. than we should also purchased stamp paper (Delhi) and not from UP for final registration of property??

    That’s why UP apartment act is good for buyers... Most of builder “may” not be aware this new act and we need to ask builder for the same.
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  • UP Apartment Act surely gives many protections to flat buyers and ensures greater clarity in RE deals.

    Had builders of NE followed UP Act, they would not have been able to sale flats without registry, land possession and plan approvals because under UP act, they are required to file declaration and give copies to buyers.

    It is logical that most builders are not "aware" of this act and nobody wants to follow it.

    Strange but true that NA/GNA does not follow this Act which is an Act of their own Govt. All mili-bhagat.

    You go to builder..he will say "there is no such Act" or that "Act is not applicable to them" or "no one is following it". All BS. Every one knows about it....

    Worse part of it is that UP Govt itself is not bothered to ensure proper implementation of UP Apartment act. It is all tamasha and dikhawa. No one bothers for aam aadami.
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