GMADA wants conveyance deed executed in 3 months
Mohali, November 28
To discourage repeated transfer of flats/apartments without their registration, the Greater Mohali Area Development Authority (GMADA) recommended the Real Estate Regulatory Authority (RERA) to direct promoters of real estate projects to execute registered conveyance deed of a property in favour of the allottee in three months.
“Not only the interest of allottees of the property will be safeguarded, but huge losses to government exchequer will also be avoided,” said Girish Dayalan, Chief Administrator of GMADA-cum-Mohali Deputy Commissioner.
In his communiqué to the RERA authorities, Dayalan proposed to issue such directions under provisions of Section 17 of the Real Estate (Regulation and Development) Act, 2016.
Dayalan says several allottees usually don’t get registration of the property done in their name just for evading the government’s stamp duty. “Then, they transfer the title to others by paying just the transfer fee to the promoters/builders. Such transfers of titles are being done repeatedly,” Dayalan said.
Dayalan added that promoters of all housing projects, which have either obtained partial completion certificates or occupation certificates, would be directed to execute conveyance deeds of plots/apartments in favour of the allottees within the stipulated period and copies of such documents (conveyance deed) executed should be submitted to GMADA.
“In case, conveyance deed of any plot/apartment is yet to be executed by them in favour of the allottee concerned, they may be asked to submit copies of agreements to sell to GMADA and also to specify reasons for non-execution of conveyance deed till date,” said Dayalan while adding that in case any promoter fails or declines to submit these documents within the set time period, further action with respect to grant of any approval or issuance of any certificate to the said promoter should be withheld till the desired documents are submitted to GMADA,” he said. — TNS
