The Maharashtra Ownership Flats (Regulations of the Promotion of Construction, Sale, Management and Transfer) Act, 1963

4. Promoter before accepting advance payment or deposit to enter into agreement and agreement to be registered.-

      1[i] Notwithstanding anything contained in any other law, a promoter who intends to construct or constructs a block or building of flats, all or some of which are to be (advance payment or deposit, which shall not be more than 20 per cent. of the sale price enter into a written agreement for sale with each of such persons who are to take or have taken such flats, and the agreement shall be registered under the 2[ Registration Act, 1908 (XVI of 1908)]; 3[and such agreement shall be in the prescribed form];

            4[(1A) The agreement to be prescribed under sub-section (1) shall contain inter alia the particulars as specified in clause (b)-

(a)                particulars-

(i)                  if the building is to be constructed, the liability of the promoter to construct it according to the plans and specifications approved by the local authority where such approval is required under any law for the time being in force;

(ii)                the date by which the possession of the flat is to be handed over to the purchaser;

(iii)               the extent of the carpet area of the flat including the area of the balconies which should be shown separately;

(iv)              the price of the flat including the proportionate price of the common areas and facilities which should be shown separately, to be paid by the purchaser of flat; and the intervals at which installments thereof may be paid;

(v)                the precise nature of the organization to be constituted of the persons who have taken or are to take the flats;

(vi)              the nature, extent and description of limited common areas and facilities;

(vii)             the nature, extent and description of limited common areas and facilities, if any;

(viii)           percentage of undivided interest in the common areas and facilities appertaining to the flat agreed to be sold;

(b)               copies of documents,-

(i)                  the certificate by an Attorney-at-Law or Advocate under clause (a) of sub-section (2) of section 3;

(ii)                Property Card or extract of village forms VI or VII and XII or any other relevant revenue record showing the nature of the title of the promoter to the land on which the flats are constructed or are to be constructed;

(iii)               The plans and specifications of the flat as approved by the concerned local authority.]

1[(2) Any agreement for sale entered into under sub-section (1) shall be presented, by the promoter or by any other person competent to do so under section 32 of the Registration Act, 1908 (16 of 1908) at the proper registration office for registration, within the time allowed under section 23 to 26 (both inclusive) of the said Act and executing thereof shall be admitted before the registering officer by the person executing the document or his representative, assign or agent as laid down in sections 34 and 35 of the said Act also within the time aforesaid:

            Provided that, where any agreement for sale entered into, or is purported to be entered into, under sub-section (1), at any time before the commencement of the Maharashtra Ownership Flats (Regulation of the promotion of construction, sale, management and transfer) (Amendment and Validating Provisions) Act, 1983(Mah. V of 1984.), and such agreement was not admitted before the registration officer by the person concerned, before the commencement of the said Act, then such document may be presented at the proper registration office for registration, and its execution may be admitted, by any of the persons concerned referred to above in this subsection, on or before the 31^st December, 1984, and the registering officer shall accept such document for registration, and register it under the registration Act, as if it were presented, and its execution was admitted, within the time laid down in the Registration Act:

            Provided further that, on presenting a document for registration as aforesaid if the person executing such document or his representative, assign or agent does not appear before the registering officer and admit the execution of the document, the registering officer shall cause a summons to be issued under section 36 of the Registration Act requiring the executants to appear at the registration office, either in person or by duly authorised agent, at a time fixed in the summons. If the executants fails to appear in compliance with the summons, the execution of the document shall be deemed to be admitted by him and the registering officer may proceed to registering officer as required by the summons but denies execution of the document, the registering officer shall, after giving him a reasonable opportunity of being heard, if satisfied that the document has been executed by him, proceed to register the document accordingly.]