If you have specifically mentioned or set the deadline, i.e. above and the other, this contact is made with the deadline set by the contract. Signing a purchase agreement becomes important given several factors. First, it is legal proof that the buyer and seller enter into an agreement on the basis of which the future approach will be decided in the event of a dispute. Also, if you apply for a home loan, the bank would not accept your application until you sign a sales contract. The verdict read: “If all sales contracts are forcibly registered, this will lead to a long way to discourage the production and circulation of dirty money in real estate and to undervalue documents for stamp duty purposes. It will also discourage the growth of the country mafias and muscular men who dominate the real estate scene in different parts of the country.┬áRemember here that both parties must respect the terms of the sale agreement. Any party that does not comply with any of the terms of the agreement could be brought to justice if the other party so wishes. All parties involved should also ensure that this document can be used as legal evidence before the court of law and that all those who have agreed to comply with the conditions are required to do so. “A contract for the sale of real estate is a contract to sell the property under the terms set by the parties,” Section 54. Section 54 adds: “It does not in itself create interest or royalty for such a property.” In addition, an ATS does not require mandatory registration under Section 17 of the Registration Act, 1908 (Registration Act) as well. This can be inferred from the fact that the list of instruments requiring mandatory registration under Section 17 does not contain ATS.

In all cases, paragraph 17, paragraph 2, excludes certain documents, including an ATS, from the applicability of sections 17(1) a) and 17 (1) b). An ATS is excluded as a document class in accordance with section 17(2) (v). In addition, the explanatory note in Section 17 also states that a document that establishes or commissions a contract for the sale of real estate is not considered to have a registration obligation or is never required. However, the analysis of Section 13, paragraph 1 of the RERA Act 2016 states that a sale agreement must be registered under existing law for the time being, which means that a sale agreement is registered in accordance with the provisions of the Registration Act 1908. Sharma subsequently refused to comply with the agreement on the grounds that no final, legal and binding sales contract had been registered by the parties and that the existing agreement could not be obtained as proof of the alleged contract. The Tribunal had held, on the basis of legal provisions, that the contract for the sale of real estate in Uttar Pradesh should be a registered document and that it was an unregulated agreement on the sale of real property as evidence.