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What right the creditor bank gets from the deed of declaration and joint development agreement, if not registered or proper stamp duty is not paid on the instrument?

The Joint Development Agreement and the Deed of Declaration are executed by the concerned parties and shall be enforceable against each other upon fulfillment of all the statutory requirements. The creditor bank does not get any right or interest from such documents irrespective of whether they are registered or not. The bank may insist upon furnishing collateral security of any other property of either of the parties to the transaction [i.e. the land owner or the builder] or of third persons who can stand as surety for prompt repayment of the loan by the borrower.  The bank may also insist upon creation of equitable mortgage of the property by the land owner on which the proposed construction activity is to commence by the developer in terms of the Joint Venture Agreement and this document is to be registered. The creditor bank may also make the land owner and/or the developer to execute personal indemnity bond for the loan amount.

FAQ

Whether the land converted for residential purposes could be utilized for construction of a school building?

In case of take over loan where the property is transferred by virtue of a general power of attorney whether the bank should insist on execution of a new general power of attorney or the earlier general power of attorney will hold good?

It is the normal practice that banks advance money to the individual borrowers for purchase of flats in an apartment building. Suppose after release of  home loan to the individual borrower, either in full or in part, who in turn has passed on this sum to the developer and  the developer abandons the project half way through  or unduly  delays in completion of the apartment building depriving the borrower to get the sale deed  executed in his favour, then how  the bank can enforce its  right for the money lent to the borrower for purchase of a flat in  the said apartment building? 

What right the creditor bank gets from the deed of declaration and joint development agreement, if not registered or proper stamp duty is not paid on the instrument?

Whether the deed of declaration and joint development agreements are enforceable in court of law without paying stamp duty?

What is meant by irrevocable power of attorney of immovable properties?

Is it necessary to register Power of Attorney to present documents for registration?

Is it necessary to register a General Power of Attorney (GPA)? 

What is the difference between Witness and Consenting Witness?

Can one become owner of a flat by purchasing and registering only undivided share of the land?