Buying a resale flat procedure

Neil Coutinho (Querist) 04 March 2014 This query is : Resolved
My family and I are going to buy a resale flat in Undri Pune. I will be also taking a home loan for the same. For applying for the loan the Bank has asked for an Agreement to Sell. I have the following queries
.Since I will be paying the seller a down payment of X amt and funding the rest from the Bank loan the Banks advocate has agreed to draw up the Agreement to sell. She says this agreement needs to be registered and stamp duty needs to be paid is it necessary to pay stamp duty at this stage or when executing the Sales Deed?
.If the bank were to reject my Home Loan for any reason and I have already paid this stamp duty how do i recover it?
.What is the difference between an Agreement to Sell and Agreement to Sale
and finally
.The seller was allotted an additional parking spot (stilt level) He has an allotment letter from the builder. Do I need to register this parking spot separately? I want to sell it off at a later stage.
I would appreciate any help in clearing the above doubts
Best Regards,
Neil

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ajay sethi (Expert) 04 March 2014
you can pay stamp duty at time of sale deed . have it registered then . at present you can enter into MOU on Rs 100 stamp paper . find out from society whether they are willing to transfer parking slot in your name . builder has no powers to sell car parking slots . contact a local lawyer

Neil Coutinho (Querist) 04 March 2014
Thank you Ajay. However is there any issues with paying the stamp duty and registration before executing the Sales Deed?
The society is still not formed, the builder is still present.

ajay sethi (Expert) 04 March 2014
what about transfer charges ? who will pay ? builder generally ask transfer charges of more than a lakh .

it is upto you to decide how you want to structure the deal

Rajendra K Goyal (Expert) 04 March 2014
Consult a local lawyer to protect and save your interest.

Guest (Expert) 04 March 2014
Keep a Friendly Lawyer with you from your Friends Circle during all Transactions.Normally 99% cases the Society/Builder do not play Mischief in Stamp Duty Etc since it would be open at the time of Registration

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