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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  • Every builder has different BBA format which only give advantage to builders and each builder put own advantage.. so there is no specific format..

    But check penalty clause, cancellation charges, possession date etc… and get it verified by some legal guy if you feel some fishy in any clause
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  • Originally Posted by chan222
    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


    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,


    Sorry, that is not what I had said.

    Your 2% will be adjusted against final 5% - yes - provided you register the same person as in the BBA.

    In other words, if you sell the flat in between, you lose this 2% - it will not be refunded or adjusted. The person who buys from you has to pay the full 5% in his name. It will also be difficult to sell such a property because registry will be unclear - what about the already registered BBA? Buyers will avoid such a property.

    So for investors it is a bad idea to register BBA.

    As pointed out, in case of problem, even those with registered BBA will suffer. So no real use I can see for this.
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  • Originally Posted by Venkytalks
    Sorry, that is not what I had said.

    Your 2% will be adjusted against final 5% - yes - provided you register the same person as in the BBA.

    In other words, if you sell the flat in between, you lose this 2% - it will not be refunded or adjusted. The person who buys from you has to pay the full 5% in his name. It will also be difficult to sell such a property because registry will be unclear - what about the already registered BBA? Buyers will avoid such a property.

    So for investors it is a bad idea to register BBA.

    As pointed out, in case of problem, even those with registered BBA will suffer. So no real use I can see for this.


    Thanks a lot for valuable advice Venky! you are a star :)
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  • Originally Posted by Venkytalks
    Sorry, that is not what I had said.

    Your 2% will be adjusted against final 5% - yes - provided you register the same person as in the BBA.

    In other words, if you sell the flat in between, you lose this 2% - it will not be refunded or adjusted. The person who buys from you has to pay the full 5% in his name. It will also be difficult to sell such a property because registry will be unclear - what about the already registered BBA? Buyers will avoid such a property.

    So for investors it is a bad idea to register BBA.

    As pointed out, in case of problem, even those with registered BBA will suffer. So no real use I can see for this.


    So, it seems that there is no real advantage of getting a BBA registered.

    Few advantages can be:
    1. Paying 2% stamp duty on allotment price which is less than circle rate.
    2. Ability to challenge builder in court if he does not fulfill conditions specified in BBA.

    Any other real advantage?

    Disadvantages:
    1. In case one wants to sell property, his amount (2% of stamp duty) will not be adjusted.
    2. In case of any issues, even user with BBA registered has to suffer.
    3. Time taken for registration process.
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  • Floor Plan missing in BBA

    Friends,

    Does Floor-plan constitute a component of the BBA the same way as costing is appended to the agreement?

    Or is it completely upto the builder to in-/exclude it from the BBA depending on their convenience?

    Thanks!
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  • Originally Posted by leo_sri
    Friends,

    Does Floor-plan constitute a component of the BBA the same way as costing is appended to the agreement?

    Or is it completely upto the builder to in-/exclude it from the BBA depending on their convenience?

    Thanks!


    Floor Plan could be the part of your BBA, It is completely depend upon Builder to Builder, Which policy are they adopting.

    Many Builders they avoid as Buyer can re-claim if any changes happen in floor plan and Sq. Ft. (Super Area) ..

    Many Builders, they still attach floor plan with BBA but do not sign and keep with themselves as a record.

    Professional Builders, always attach Rs 100 Stamp paper along with Floor Plan for future use.
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  • Bringing this topic alive when a lot of wrongdoing are happening in market.

    How many of you actually did register your BBA?
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  • Not me...and as far as I Am aware from this forum you can't register it unless the builder wants to get it done....and he will never want to do it

    Sent from my GT-N7000 using Tapatalk 4
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  • Guys, one of the BBA clause says..

    That all taxes or charges be it, House Tax/Property Tax, Water Tax, Sewer Tax, Wealth Tax, Service Tax, Trade Tax. Metro Cess, VAT,and Txes of all and any kind whether levied or leviable now or in future imposed by Government/GNIDA/Statutory or other local authority(s), shall be payable and be paid by the allottees.

    While the UP act (THE UTTAR PRADESH APARTMENT (PROMOTION OF CONSTRUCTION, OWNERSHIP AND MAINTENANCE)) says it has to be paid by builder. When I conversed with builder he says these taxes are only applicable after possession but didn't get ready to add this clause.

    Can any1 throw some light more on this, if we can force builder to change the clauses in BBA? I found other points too in BBA which needs a minor correction as BBA seems to me as one sided game just like that of Carlsun v/s Anand
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  • Hi Pradeep, I am trying hard to get a BBA from my builder Jaypee. But Jaypee is not providing any kind of agreement.i went through the apartment act you have attached here but i can't find the word mandatory. Can you help me on this please
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