Is Registry of Flat Necessary in Greater Noida before Possession?

Is Registry of Flats in Greater Noida before Possession: Greater Noida has emerged as one of the significant residential as well as industrial centres surrounding Delhi NCR in the past several years. Various builders have developed different projects and they are providing flats in other projects in Greater Noida at reasonable rates. It also appeals to many property buyers since the cost of constructing them is low.

However, some builders fail to convey flats to buyers after receiving total payment prices for the respective flats. Some of them are that they only issue allotment letters and owners are allowed to take possession of flats without a registry. This leaves the buyers in trouble later on. Hence, it becomes obligatory to register the apartments in your name before you can actually possess them.

Is Registry of Flat Necessary in Greater Noida Before Possession Before That Know What do you understand by Registry of a Flat?

One of the first documents you receive, if you are a buyer of 3 BHK fats in South Delhi, are allotment letters that the builder issues. This allotment Letter identifies a particular flat in a project for you. However, this only means that a specific segment or parcel is assigned or designated for something. Still, it does not necessarily mean that the parcel belongs to something in the absolute sense. For ownership, the flat should be registered where the original documents, including the allotment letter need to be submitted to the concerned sub-registrar office. The sub-registrar then has the flat entered into the land register in your name. This makes you the legal owner of the flat and gives you all the rights pertaining to it.

Understanding Why Registry is Necessary before Possession

If you ever wonder, Is registry of flat necessary in Greater Noida before possession?, knowing the way the registry processes is the best thing; getting the registry done before taking possession of your flat is critical for the following reasons: Getting the registry before taking possession of your flat is crucial because of the following reasons:

• Protects from Builder Fraud: Some builders may sell the same flat to anyone willing without registration or even a proper transfer of title. I guess that if one does not get the registry done, then they will not be in a position to prove ownership legally. With the help of the above suggestions, the builder can quickly find a way to deny selling the flat to you.
• Allows Access to Civic Amenities: It is noteworthy to know that without being registered, you will not be able to get electricity, water, and even sewerage connections in your name. Records will retain the name of the builder.
• Permits Access to Bank Loans: Loans for South Delhi flats are approved only against the registered properties through which the title of the property remains clear. Without registering, you cannot sell or mortgage your flat to get a loan for meeting financial requirements.
• Allows Usage as Collateral: Registered flats can be easily assigned to the purpose of different types of credit facilities. This is because you can use your flat for loans once you register it in your name.
• Enables Smooth Resale: In any given period, if you have plans to sell your flat, then having a registry in your name eases the process. The new buyer will only transact with you once the registry informs her that you are the rightful owner.
• Offers Legal Protection: When you register your flat, you have all the legal rights on the property like any other house. Your legal rights are not in any way altered, and you can fully protect yourself in the event of a dispute with the builder or any other person later on.

According to the majority of the professionals, it is safer to finalise the registry procedures earlier after signing the contract with the builder to take possession of the flat. This removes the chance of someone getting a chance to commit fraud. Some critical times when you should complete the registry include: Some vital times when you should complete the registry include:

The payment plan for this project suggests that the last payment is made to the builder for the construction of 3 BHK Flats in Greater Noida  

However, the government has made it possible to get electricity connection individually through the following conditions to be met.

Before you actually move into your flat and physically possess the keys to your new home,

If your builder offers possession without a registry, you should not take keys and make the registry a condition. The law does not impose any requirement about when the registry must be held. Yes, if you are not getting the registry done, then you are legally exposed and open to all sorts of attacks!

Conclusion: Is Registry of Flat Necessary in Greater Noida before Possession?

Finally, the advice given by various sources includes having a flat registry in your name before you take possession from Bhavishya Nirman Builders. This best practice can serve well as a guiding principle if you buy a flat in Noida, Greater Noida, or any other developing area around large cities in India. The registry of property in South Delhi helps to make legal the ownership of the flat. And so, you should not be foolish to move in to take possession through allotment letters. Ensure that you do not lose your hard-earned money by avoiding any short cut processes of the registry.