PM-UDAY or 100% Registry: Which Is Better?

The act of purchasing a house in Delhi is a significant step to take, but the paperwork associated with the property can be just as significant as its location. The distinction between the PM-UDAY property and the 100 percent registry builder floor is very relevant when deciding which house one should buy.

What Is PM-UDAY?

The PM-UDAY, or Pradhan Mantri-Unauthorized Colonies in Delhi Awas Adhikar Yojana, was initiated to confer ownership, transfer, and mortgage rights to eligible properties in the Unauthorized Colonies of Delhi. The eligible owners can receive a Conveyance Deed or Authorization Slip upon completion of the process.

As per buyers of property under PM-UDAY, the property cannot be considered solely from the perspective of GPA, Agreement to Sale, Will, or possession deeds. The buyers need to verify the title deed of the concerned property under PM-UDAY.

What Does 100% Registry Mean?

In the context of construction and real estate, 100% registration of the builder floor means that the respective document evidencing the ownership or sale has been duly registered by the Sub-Registrar. However, it is important to note that 100% registration does not ensure everything from a legal point of view.

Buyers need to look at the registered sale deed, title history, building plan, floor rights, state of the plot, taxation, and dues.

PM-UDAY vs. 100% Registry Builder Floors

The key difference is the route through which property rights are established. PM-UDAY addresses ownership and transfer issues for eligible properties in notified Unauthorized Colonies. A registered builder floor may instead have ownership transferred through a registered sale deed under the registration framework.

For buyers considering builder floors in Delhi, ask what document is registered, who owns the underlying land, whether the seller has authority to sell, and whether the construction complies with applicable rules.

Legal Rights Buyers Should Check

Before purchasing, buyers should verify the seller’s identity and ownership documents. Check the complete document chain, including previous transfers, registered deeds, and possession evidence where relevant.

For a PM-UDAY property, confirm that the property falls within an eligible notified Unauthorized Colony and review the DDA-issued documents. Also check whether the Conveyance Deed or Authorisation Slip has been registered within the prescribed requirements.

For 100% registry builder floors, verify the registered sale deed and title documents independently. Check sanctioned plans, construction status, floor number, parking rights, common areas, and outstanding dues. Clear documentation can help prevent disputes.

Can Banks Provide Home Loans?

Availability of loans is helpful but not a substitute for legal verification. Properties under PM-UDAY that have documents registered in their name can possibly be financed, based on the policies of the bank. Likewise, registered builder flats may also be available for home loans provided they meet the bank’s conditions.

It would be wise for buyers to seek legal verification before simply believing what a seller or broker says.

Which Option Is Better?

The answer is not that simple. In the case of an existing PM-UDAY scheme, it ensures the right of ownership and mortgage of the property through a proper procedure. The registered floor of the builder can also have a proper registration history, but in that case, the buyers need to verify the same.

Whether you are searching for registered flats in Delhi or checking the builder floors in Delhi, you should perform your due diligence of the property before paying anything as an advance deposit.

Frequently Asked Questions

Q1. Are PM-UDAY and 100% registry the same?

Ans. No. PM-UDAY is a legal framework of recognition or conferring certain property rights to the qualifying Unauthorized Colonies. While “100% registry” means registering certain property documents.

Q2. Can I get home loans for PM-UDAY property?

Ans. Maybe. It depends on the documents, title, eligibility, and the policy of the lending entity. The buyer must ensure that he/she gets written confirmation from the respective bank/financial institution.

Q3. What do I need to check before buying a builder floor?

Ans. One must verify all relevant documents, title, sanctioned building plan, rights on floors, land position, approvals, payment dues, possession rights, and registration documentation before making the purchase.