Chennai: Now, flat buyers in Tamil Nadu capital may have to pay 2% extra charges for the property registration as the state government has made it obligatory to sign the registration agreement between the developers and the homebuyers. Earlier the construction agreement was never registered.Till now only the undivided share of land (UDS) was registered at the sub-registrar offices for which 5% stamp duty was charged by the government, for the growth of the local bodies like corporations and panchayats, 2% surcharge was charged and 1% was charged as registration fees. Therefore if the investor had to buy a new flat under construction then in total, the buyer had to shell out 8% for registration of the value of UDS. The registration deed previously was created only for the new building when property resale took place.Here onwards, within 120 days of signing the agreement, the construction agreement has to be registered at the sub-registrar office and the buyer will have to pay an extra charge of 1% each for stamp duty and registration fees. UDS will not be registered until and unless construction agreement is registered. The essential amendments have already been made to the Registration Act and the new policies came into effect on 1st October.Construction agreement that is signed after October 1st will only fall under the ken of this Act while the developers and homebuyers who ask for exemption from the additional charges may have to furnish evidences that shows that registration has taken place before October 1st.According to the President of Confederation of Real Estate Developers’ Association of India (CREDAI) Tamil Nadu, the buyers may have to bear additional charges along with the construction cost but it will benefit them in form of better title for their assets.займ на карту без отказов круглосуточновзять кредит онлайн