Amendment status not verified — confirm the current text below against the official source.
(1) Not withstanding anything contained in any other law for the time being in force, a promoter or a builder who intends to transfer any apartment shall before accepting any changes from an intending transferee as advance payment or deposit, enter into a written agreement for sale with such transferee which shall be registered.under clause (b) of sub-section(l) of section 17 of the Registration Act, 1908. (2) On completion of the apartment building the prorrfcter or builder of apartment shall execute a registered deed of sale in favour of transferee as per provision of Registration Act, 1908. The execution and registration of the sale deed to be completed in such a manner and within a period as may be prescribed, from the date of handing over possession of the apartment to the transferee and full sum of consideration amount is received by the promoter/ builder. The transferor and transferee are bound to quote the value in the sale deed as fixed by Competent Authority as per Assam Public Works Department Schedule of Rates. J>