Anonymous
02 January 2025 at 11:30
Dear experts
Any inputs will be helpful
Queries are - I am a seller, selling an old flat (BBMP A Khata, Bangalore, Karnataka) for 55 lakhs, while guidance value is approximately 35 lakhs.
Buyer wants to register at guidance value of 35 lakhs, and pay balance amount of 20 lakhs by any means (cash, account transfer),
As per indexation, property is under loss ,even if sold for 60-62 lakhs.
1. Do I need agreement to sale (signed by buyer/seller), where actual amount of 55 lakhs is mentioned and where it is also mentioned how and when 20 lakhs would be transferred/given by buyer to seller ? or when preparing agreement to sale, it should already contain transaction details on how 20 lakhs was "already transferred" to seller - completed transactions?
Additionally, on how much stamp agreement to sale be prepared then ?
2. Can I directly enter into sale deed without doing agreement to sell - is it necessary from legal or taxation perspective? Do I need agreement to sell to be available as evidence/supporting document for additional income of 20 lakhs to me (though no tax liability as the property is under loss) ? or just producing income details from property sale (35 lakhs sale deed copy, 20 lakhs credit in account statement = 55 lakhs total income on house property)
3. The buyer has to provide amount in sale deed (35 lakhs) by "DD only" before signing the sale deed at SRO ?
Of course, the buyer should, by any means, provide the balance 20 lakhs before signing sale deed, right ?
4. Should the sale deed contain "exactly same clauses" from previous sale deed + additional new transaction that is being done on first page; or buyer can add more clauses in the new sale deed ? In essence, will it be a copy of previous sale deed with just new transaction being added ?
I do not want to accept cash or do any grey transactions
How do I safe guard my interest to take full amount of 55lakhs, safe guard any future issues in property, before singing sale deed and transferring property to buyer ?
Do I need to have a lawyer accompany me to SRO to see through the process and handovers ?
Manoj Prabhakar
31 December 2024 at 17:15
Hi All,
We purchased a property in Bangalore Karnataka. As per the EC record the village name till our purchase was seegehalli, However when we registered the property the village was chosen as per the property tax revenue record as basavanapura village.
The address mentioned in the document is accurate.
We now have all revenue records, such as EB, Water, SWB, Property tax, and khatha, in our name and show both seegehalli and basavanapura.
But when I look for the history of EC my registration is coming in basavanapura village the land's previous details come in seegehalli village. When I enquired about this we learned that in kaveri1.0 the villages are not mapped properly and while uploading the document for registration the change in village name happened.
The details mentioned in the document do not need any change only the digital upload needs to be modified to a new village, how to do this?
My questions are
1. While we sell the property can I explain the hobli or village name chosen wrongly?
2. Can I correct the village name by doing a self-declaration? through the same sub-register?
3. Or what is the correct procedure to overcome this discrepancy.?
Kindly guide, please
Regards
Manoj
Twinkle Parmar
30 December 2024 at 14:04
property is located at kharghar navi mumbai
property was in name of two brother, one brother paid stamp duty 1% gift deed and transfer his 50% share to other brother it is internal transfer
can society is asking for premium
pls advice
Twinkle Parmar
29 December 2024 at 22:02
Property is located at navi mumbai kharghar
Property is in name of two brothers while one has transfer 100% rights to other brother by way of gift deed paying 1% stamp duty and registration fees
Now while doing cidco transfer to remove name in cidco record as well as from conveyance deed and share certificates
Society is asking for transfer premium to be paid of 25000 to housing society
Pla advice
Abu Thalha
24 December 2024 at 11:37
A Muslim father survives his daughter. He has other son and daughters and even a secodn wife. In this case can the legal heirs of the predeceased daughter inherit the estate of her father.
Murthy
19 December 2024 at 20:22
X developer enters into a JDA with y land owner agrees to sharing ratio of 60 : 40 % Developers and owners share Subsequently the owners seeker X amount as Consideration for their owners share
Should the JDA be amended??
Will a supplement agreement hold good??
Since a lumpsum amount is being paid do we have to pay stamp duty
What is the diligent solution to this case
brsasireddy
16 December 2024 at 21:18
Hi All,
I am planning a buy a plot in Bangalore. Here is some background,
1. Property acquired(purchased) by Muslim man in 1982 from Hindu owner
2. Muslim Owner have 4 kids (3 daughter and 1 son).
3. Muslim Owner died in 2010
4. The 4 children of the Owner (all around 50+ age) partitioned the property 1/4 each in 2011.
5. The 4 children of the Owner have many kids (they are grandchildren of original owner).
6. Now the muslim owner children (1 son and 3 daughters) are selling the property to Hindu (me)
Questions:
1. Since current owner(s) are muslim's which property law we need to follow to sell the property?
2. Do we need signatures of the grandchildren of the Original owner for the sale deed registration?
3. How many years EC we need to check (20,40, 75 ...). We have records for 45 years?.
Please help me.
Thanks
Shashi
Read more at: https://www.lawyersclubindia.com/forum/muslim-s-property-236515.asp
darshan
14 December 2024 at 12:31
DEAR SIR MY MATERNAL GRANDFATHER MADE A WILL BEFORE DEATH . IN THAT WILL , IN MY MOTHER IN LAW NAME ONE PROPERTY MENTIONED BUT IT IS FOUND THAT THE GIVEN PROPERTY DETAILS ARE WRONG. PROPERY SEARCH BY MENTIONED NUMBERS NOT FOUND IN GOVT RECORDS. MY UNCLE IN LAW NOT READY TO TRANSFER CORRECT PROPERTY, WHAT SHOULD WE DO CANT UNDERSTAND.
CAN WE Challenge
Anonymous
12 December 2024 at 03:41
Dear sir , my mother has gifted property to me and my sister, the property is 3 floor , 2 floor from ground floor to 1 St floor belong to me and 2nd floor and 3 floor belong to my sister , now I want to sell my part of property to somone can I sell the property which belong to me therefore ground floor and 1 floor. My sister is expired after getting gifted property, but I want to sell my part weather I will inform the buyer also only iam selling my part can I sell it
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Seller protection clauses in sale deed
Dear All, I am re-selling a BBMP A Khata flat in Bangalore, Karnataka.
No legal issues on the property, all taxes paid - EC/ ESwasthu obtained, BESCOM, BWSSB, Kaveri available.
I am looking for clauses that I must have to protect myself from future/ unknown legalities/issues/government new regulations etc.
For example, indemnity clauses to protect from:
1. This is a "no OC/CC" property constructed in 2007, no legal issues since then until date (until 2012/2013 none of small builders were even applying for it, including my apartment)
2. "Deviations" against approved plan in terms of setback, floor area ratio (unsure of deviation percentage), minor/medium layout deviations, constructed individual flat deviation to "achieve FAR", but only on paper.
3. Maybe "non critical couple of missing land history documents" (most of the documents are available), like 98% clean title properties but not 100% due to lack of old 1/2 originals or even unclarity; in future any litigations occur ?
4. Any other obligations
Buyer is expected to be well aware of these but what clauses seller should add in the sale deed to protect herself from above - future litigations, future changes in government regulations such as Sakrama scheme related to deviations, NOC from several other departments that may be enforced in future with additional payments required, anything else to consider ?
Please advise.