Conveyance deed
divakaran sriram
(Querist) 11 August 2013
This query is : Resolved
I am the owner of a plot ( located at Nagpur , Maharashtra)and wish to build an apartment scheme on my own (as builder & developer) and retain one apartment for my own use.
(1)since the plot is in my name how should I make a conveyance deed for this flat I want to retain.
(2) how is the stamp duty calculated in this case
Devajyoti Barman
(Expert) 11 August 2013
1. No need to make any.
2. Local law would apply which differs from state to state.
ajay sethi
(Expert) 11 August 2013
since you are the owner of plot in case you construct a building you can retain an apartment for your own use .
for sale of apartment to others engage a local lawyer .
prabhakar singh
(Expert) 11 August 2013
You are owner of land and would be also of all apartments you would build,then where is the question of deed in your favor.
Deed would be required only for apartments you would be selling to others.
Nadeem Qureshi
(Expert) 11 August 2013
you can easily bear consultation fee of a lawyer so it is better contact a lawyer personally
divakaran sriram
(Querist) 13 August 2013
My thanks to all the experts for their advise. i had consulted few lawyers at nagpur however none is clear about this issue hence i had to seek advice through this forum
two more query for your advise please:
(a) I am still not clear how I can pledge my flat which I have retained for purpose of loan etc if i do not have a specific deed of conveyance indicating the market value and ownership of this apartment as most banks rely on this conveyance document for their loan assessment.
(b) How do i mutate this apartment in my name without a conveyance deed of this apartment in my name
Raj Kumar Makkad
(Expert) 13 August 2013
Conveyance deed and sale-deed do represent almost same document. If you are owner to that plot means you have a registered sale-deed in your name and that document shall be regarded as equivalent to conveyance deed and the valuation of that plot shall be made by registered valuer of the area.
You contact to banker and get his guidance.
