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- Whatever you are registering, you need to be physically present. You can't do registration without being present. Not sure whether ATS is required to be registered. If yes, then you will be required here physically.CommentQuote0Flag
- Thanks Truth and I am aware of that fact. My problem is the second part of question. Is this a madatory requirement for a home loan disbursment?CommentQuote0Flag
- If HDFC requires ATS to be registered, then you can't do anything about it. It will depend on the bank whether or not it is required to be registered. Ask whether notorized document will be enough.
However, from bank's perspective, it's fair that they ask for registered ATS document. They are giving lakhs of rupees just on the basis of that agreement!CommentQuote0Flag
- I agree and in case this is a mandatory requirement i will fulfill the same. But there can be a possibility that the bank representatives donot understand what they are asking for and it's implications. May be a notorized one can doCommentQuote0Flag
- ^^ All the best, and keep us posted.CommentQuote0Flag
- According to the law:
If the buyer pays the stamp duty on the ATS and registers it. Then the sale deed is not necessary after it. The buyer will just need the registered ATS and the receipts of payments done to you for the full consideration.
After ATS, the buyer just needs the possession letter from you after all consideration has been paid to you.
So you only need to go once for registration during ATS, no need to go again.
PS: ATS is not MOU, it is a fully enforceable contract.CommentQuote1Flag