How to Register a Sale Agreement in Navi Mumbai?

Sale Agreement Dec 6, 2021

What is a sale agreement? How is it different from a sale deed?

A sale agreement is executed between a real estate developer and buyer or allottee. It is a document which details the construction plan of the project being built along with the date on which the developer shall hand over the property in question to the buyer. It does not transfer ownership from the developer/builder to the buyer. Rather, it enlists all the terms and conditions under which property ownership shall be given to the buyer, on a fixed date.

Sale agreements are executed before the property has been completely constructed and consideration for it has been paid.If either one of the transacting parties does not honour the terms of the sale agreement, it is possible to withdraw from the agreement and initiate legal proceedings against the person who has violated the terms.

A sale deed, on the other hand, is a conveyance deed which you must register in order to transfer property ownership from the seller to the buyer.

Thus, a ‘sale agreement’ alternatively known as an ‘agreement for sale’ is different from a a ‘sale deed’.

The contents of a sale agreement

Sale agreements typically contain:

  • Personal details of the buyer and seller
  • Names of the witnesses
  • Specifications of the property
  • Consideration which must be paid by the buyer
  • Mode of payment
  • Date of completion of the project
  • Date of handover of the property to the buyer (handover of possession)
  • Any other terms and conditions agreed upon by the buyer and the seller.

How to register a sale agreement in Navi Mumbai online?

Pay the stamp duty and registration fees for registering your sale deed in Navi Mumbai online.

PAYMENT OF STAMP DUTY AND REGISTRATION FEE

Property buyers in Navi Mumbai can pay the stamp duty and registration fee online through the GRAS portal.

  • Once you click on the 'Pay Without Registration' button, the portal will take you to the next page where you can choose the type of user, and the payments you want to make. Individual property buyers should choose ‘Citizen’. The e-GRAS portal allows you to pay stamp duty and registration fees together.

The next page will open up a form. The form has seven parts.

  • Department details: Choose the district and sub-registrar office in whose jurisdiction your property is located. Choose the article code 25.2 Agreement to Sale/Transfer
  • Payment details: Under payment details. Specify the stamp duty and registration fee you must pay.
  • First party details and Second party details:: Enter the name, PAN, and mobile number of the buyer and the name and PAN of the seller.
  • Property details: Enter flat/survey number in case of a plot, locality or road, area/city, and pincode of the property.
  • Property value details: The market value of the property and consideration amount which is the amount you actually paid to the seller.
  • Payment mode: Choose the mode of payment from the given options

Image by Dylan Mullins on Unsplash


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