Rationale Supporting The Registration Of Independent Floors

In India, a clear title is said to pass from the seller to the buyer of a property

, if there is registration of the same done in the court. The agreement to sell shall be backed up with a property registration of the said property after paying the stamp duty to the government. The registration of the properties is governed by the law of the state in which the land is situated. The government does allow the registration of the independent homes and of the flats of the group housing societies but, in the State of Haryana, there was a different treatment accorded to the independent floors till not so distant in the recent past. The registration of the independent floors in the names of different owners was banned or prohibited by the government. This was considered by many as a policy hiatus which also affected the independent floors being developed by the various groups in the Greater Faridabad area. However, there was strong rationale which made the government to provide the permission for registration of these floors in the whole of Faridabad.

The first rationale was of the rapidly increasing demand for housing units and the increasing chances of settlements in the near future. This increasing demand can not be met by changing the land use pattern for vast stretches of land. Rather, the multi-storey buildings are expected to meet the demand. This is further corroborated by the fact that most of the housing projects in the Greater Faridabad area are the multi-storey ones and the projects like BPTP Park Floors Faridabad are increasingly being booked by the people.

Another rationale stems from the fact that if the multi-storey buildings having flats or apartments, which put greater strain on the resources of the region, can be allowed to get the registration done, then what prohibits the registration of the independent floors like BPTP Park Floors?

By allowing the registration, the government has also contributed to stimulating the development of builder floors with the aim of providing housing to the people. This has also increased the sale-purchase transactions which has also contributed to the growth in the revenue of the government as more stamp duty can be collected.

The major areas of the Faridabad town have been individual independent homes and many of these are made into the ground floors only. As demand increases and it becomes possible to transfer a clear title to the buyer by way of registration, the owners can develop the further floors and either sell these or rent these out. So, for them, these extra floors bring extra sums of money.

So, with many rationale supporting the registration of independent floors, the government had to relent and allow this to go ahead. The result has been that the transactions of societies like BPTP Park Floors which were suddenly curtailed due to the negative attitude of the government, have again picked up.

by: kamal bhatt

POST COMMENT

Independent Floor Registration In Ncr Important Know-how About Trademark Registration Benefits Of Offshore Company Registration Trademark Registration A Detailed Study Know Everything You Need About Gmat Registration Uk Vehicle Registration Details Everything About Gmat Registration Explained The Big Step- Gmat Registration How To Get Going- The Gmat Registration Aimersoft 3GP Video Converter Registration Code Perpetual Use of Land: Title re-registration Driver Robot Registration Key-Driver Robot Setup AIMA announces dates for MAT May, registrations on