14. That Party No. 1 accepts that this contract of sale remains irrevocable and that Party No. 1 does not revoke or terminate it in any future. Applying the provisions of section 88 of the RERA Act 2016, we can see, by analyzing the provisions of the two Decrees, that Sec 17 (2) (v) of the Registration Act 1908 denies the RERA Act 2016. In accordance with section 89 of the RERA Act 2016, the provisions of the Registration Act 1908 are therefore not taken into account for the purposes of registering the sales agreement. . In India, the Property Sale Agreement is governed by the Indian Contracts Act 1872, the Registration Act 1908 and the Transfer of Property Act. This applies regardless of the seller – friend, family, acquaintance or total stranger.
A written agreement should be concluded to legally establish the authenticity of the ownership of the property. Here`s what should be included in your contract of sale In the event of the seller`s failure to sell the property or transfer ownership of the property to the buyer, the buyer is granted a right to a specific performance in accordance with the provisions of the Specific Relief Act, 1963. . . .