Plz urgent help me - my registration can get cancel
ABHISHEK TIWARI
(Querist) 20 December 2014
This query is : Resolved
Dear Sir
I am posting the same query again with in 24 hrs as my earlier query did not got any reply.
PLZ REPLY.
I have got a house loan from a bank and registered a property by calling commision .
The property was already running on loan from the same bank . So , there is case of book adjustment also from the bank on the seller account .
I have paid the registration charges and stamp duty . The TDS is also paid . My contribution of 20 % by demand draft is also paid by me . I have also paid the 3.09% service tax to developer , as the seller has not registered the property before .
I also have a possesion certificate from a developer .
The registration was done by calling commision and bank has given a xerox of check to seller and asked him after getting the IGR from registered office , to take the physical delivery of check .
Deed mentions about a book adjustment value , check number and my contribution draft details .
Now , today when the seller went to Registration office for IGR , it was not provided as the registration office told him that , the extra 1.1% of stamp duty have to be paid as the property was not registered before and then only IGR will be provided .
The seller and bank is asking me to pay this amount otherwise registration will get cancel , as book adjustment will change.
Kindly advice , is it possible that registration to get cancel and my money getting stuck by no fault of mine .
They are forcing me for 1.1% but I dont want to pay .
I need urgent advice . PLZZZZZ
Guest
(Expert) 20 December 2014
Dear Abhishek,
I don't know where you are working as an Officer. But suppose, if some matter pertaining to any third party has to appear on your office record and any outside settlement is made by that party with some other party without considering the need for getting your office record amended, whould you consider that change as valid?
So, it is not the matter of your fault, or the book adjustment on bank's record or the record of the developer, it is the requirement of law that already registered agreement should also have been made in cncellation of the original agreement and registered in your name on payment of due stamp duty of the state to make you eligible for registration of property in your name.
Just think, how the property with agreement registered in the name of a third party could be registered in your name?
So, the due 1.1% of stamp duty is liable to be paid either by the reseller, or the developer or you only to be decided mutually. Bank has no concern with the payment of stamp duty on the registration of property.
ajay sethi
(Expert) 20 December 2014
pay the additional 1%and obtain clear and marketable title to the property
Rajendra K Goyal
(Expert) 20 December 2014
It is advisable to pay the required stamp duty. It would be cheaper in comparison to the position when the Bank rejects the proposal.
