Change of flat


Hi Sir, I want to exchange the Flat from B004 to B006 and i have taken loan on B004. Owner is accepted for the change. Can you please help me with procedure . Is it possible to do the exchange of the flat.
 
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Advocate

Has the owner of Flat B006 has registered the flat in his name by paying stamp duty?

If so, you would be required to pay the Stamp Duty on the value of Flat B004 or B006 (whichever is higher) and register the Exchange.

Needless to say, you also have to get permission from the Bank from which you have taken the Loan.


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ADVOCATE

Exchange deed is possible.


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thanks a lot Ramachandran,

Flat B006 is belongs to owner property , I am changing my FLAT B004 to owners property B006.

This is the joint venture property and B006 went on owner property,

And what reason i need to mention for the bank ,, is there any cases banks will deny it.

 

Thanks in advance,

Sekhar

 

 
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Advocate

You are not clear to me.

Have you already done registration of your flat with the Sub-Registrar's office by paying stamp duty?

 
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yes, Flat B004 registered on my name and B006 is owners name, so i want exchange with that.

 
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Advocate

In that situation, my original answer holds good.  You cannot exchange simply, without a formal Exchange Document and Registering the same with the Sub-Registrar's office by paying the stamp duty.

 

 
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Lawyer

No such document of "Exchange Deed" as advised, exist in India.

 
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