Section 54AContract for sale to be registered, etc.

s. 54A

54A. Contract for sale to be registered, etc [Notwithstanding anything to the contrary contained in this Act or any other law for the time being in force, a contract for sale of any immoveable property can be made only by an instrument in writing and registered under the Registration Act, 1908, whether or not the transferee has taken possession of the property or any part thereof. In a contract for sale of any immoveable property, a time, to be effective from the date of registration, shall be mentioned for execution and registration of the instrument of sale, and if no time is mentioned, six months shall be deemed to be the time.]

1. 14. Section 54A was inserted by section 5 of the Transfer of Property (Amendment) Act, 2004 (Act No. XXVI of 2004)