Registration of Agreement for Sale – Rajasthan RERA Order No. F1(146)RJ/RERA/2020/Special IV dated 06.05.2021

Rajasthan Real Estate Regulatory Authority
2nd & 3rd Floor, RSIC Wing, Udyog Bhawan,
Tilak Marg, C-Scheme, Jaipur-302005

No. F1(146)RJ/RERA/2020/Special IV

Dated: 06/05/2021

ORDER

Sub: Registration of Agreement for Sale

In view of the corona pandemic, vide this Authority’s Order No. F1(146)RJ/RERA/2020/852, dated 15th May, 2020, it was ordered that “once an agreement for sale is executed on a stamp paper of appropriate value, the promoter and the allottee will, pending registration of the said agreement, be allowed to proceed with the said agreement, provided the said agreement is subsequently got registered by the promoter and the buyer, preferably within 4 months, otherwise within 8 months, of execution [as stipulated under section 23 and section 25 of the Registration Act, 1908]. Accordingly, the allottees are allowed to deposit instalments and the banks/financiers of the allottees are allowed to sanction housing loan for the sold unit and disburse the due amount of loan on the basis of such executed agreement for sale. However, after registration of such agreement within the time stipulated under the Registration Act, 1908, the registered document shall be deposited with the concerned bank/financial institution. These directions would apply only to such agreements which do not involve transfer of possession of the sold unit. These directions shall come into force at once and shall continue to be in force upto 31.03.2021.”

Now, in view of the ongoing second wave of corona pandemic, and in exercise of the powers conferred on the Authority under section 37 of the Real Estate (Regulation and Development) Act, 2016 and all other powers enabling it in this behalf, it is hereby ordered that the aforesaid directions, as contained in this Authority’s Order dated 15th May, 2020, shall continue to be in force upto 31.03.2022.

Though a copy of this order is being endorsed to the Convener of the State Level Bankers’ Committee for circulating it among all the banks, the promoters are authorized to submit a copy of this order to the concerned bank/bank branch or financial institution financing any apartment, plot or building in their registered project.

(Ramesh Chandra Sharma)
Registrar

Copy for information and necessary action:

  1. PS to Chairman, Rajasthan RERA
  2. PS to Member (Sh. Shailendra K. Agarwal), Rajasthan RERA
  3. PS to Member (Sh. Salvinder Singh Sohata), Rajasthan RERA
  4. PS to Adjudicating Officer, Rajasthan RERA
  5. PS to Registrar, Rajasthan RERA
  6. SA, DoIT 86 RISL Sh. Mukesh Arora
  7. Coordinator, Conciliation Forum, Rajasthan RERA
  8. Convener, State Level Bankers’ Committee, Rajasthan & General Manager, Bank of Baroda, Baroda Bhawan, Airport Plaza, Durgapura, Tonk Road, Jaipur – 302018, with a request to circulate this order to all the banks in the State of Rajasthan
  9. Chairman/President, Confederation of Real Estate Developers’ Associations of India (CREDAI) Rajasthan, 424, 4th Floor, Laxmi Complex, MI Road, Jaipur ­302001
  10. Chairman/President, Confederation of Real Estate Developers’ Associations of India (CREDAI) NCR Bhiwadi Neemrana, E-127, Industrial Area, Bhiwadi, Alwar-301019
  11. President, Township Developer Association of Rajasthan (TODAR), Prim Pavilion, E-66, Nakul Path, Lal Kothi Scheme, Jaipur — 302015
  12. Chairman/President, Rajasthan Affordable Housing Developers Association (RAHDA) S-220, Time Square, Central Spine, Vidyadhar Nagar, Jaipur
  13. Vice Chairman, RAJREDCO, Jaipur
  14. Chairman, All India Federation of Tax Practitioners (CZ), c/o Shri Pankaj Ghiya, 10, Ganesh Colony, Bhairav Path, JLN Marg, Jaipur-302004
  15. Chairman, RERA Awareness Committee, ICAI, Jaipur Branch, Jain Rathore 86 Associates, 105, Jagdish Enclave, Hawa Sadak, Civil Line Circle, Opp. Ram Mandir, Jaipur-302006.
  16. Chairman, RERA Committee, Tax Consultant Association, Jaipur, 801-803, 8th Floor, Signature Tower, DC-2, Behind Apex Bank, Tonk Road, Jaipur ­302015
  17. President, RERA India Educational & Resources Federation, 4F-42, Mahima Triniti Mall, Swage Farm, New Sanganer Road, Jaipur-302019
  18. Chairman, The Indian Institute of Architects, Rajasthan Chapter, 400, F-72, *Suryoday, Subhash Marg, Bagadiya Bhawan, C-Scheme, Jaipur-302001
  19. Chairman/Secretary, Rajasthan Realtors Association (RRA), 308, 3rd Floor, Plot No. 1, Felicity Tower, Sahakar Marg, Lal Kothi, Jaipur- 302005
  20. Chief Editor, RERA Times, Ghiya 86 Company, E-68, Ghiya Hospital Complex, Sector-12, Malviya Nagar, Jaipur – 302017
  21. All officers of Rajasthan RERA
  22. Guard File
  23. Rajasthan RERA Website
  24. All promoters (through their dashboard)


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