Change of name in index-2

Shailesh Bhavsar (Querist) 19 April 2023 This query is : Resolved
Iam, Shailesh Bhavsar living in Pune since 1988. The builder had done agreement with my father in 1986 and index-2 was made in his name. The society in which I am living issued share certificate in my father's name. In the year 2000, my father made me associate share holder in the society. In Jan-2005, he passed away. Since then the society made me the shareholder and started issuing annual maintenance bills in my name. Even the Pune Municipal corporation started issuing property tax bills in my name and the Maharashtra State Electricity bills are issued in my name. In 2021 a family deed was prepared on a ₹500 stamp paper (duly notified) where my younger sister and younger brother have relinquished their claim on this property where I reside since 1988. Now, I our society is planning for redevelopment of the complex and if I wish to say I am owner of this property I understand that I need to carry out amendment in Index-2 favouring my name. My question is: (1) Is it mandatory for such change in index 2, and (2) If yes, then how to carry out this amendment in Index-2

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This discussion addresses the need to update an Index-2 document to reflect current ownership, particularly when a property was initially registered under a father's name. The individual in question has been managing the property and paying bills for years, with siblings relinquishing their claims via a family deed. The advice given is that a registered release deed from all legal heirs is mandatory to establish sole ownership for redevelopment purposes, as a notarised deed is insufficient. This registered deed will formalise the transfer and ensure the Index-2 is updated correctly.

T. Kalaiselvan, Advocate (Expert) 19 April 2023
Your name should appear as the absolute owner in the Index card and for that your siblings and your mother have to execute a registered release deed relinquishing their rights in the property.
The notarised relinquishment of rights in the immovable property is not recognised as legally valid hence it is pertinent that the deed to be executed by a registered document.
The stamp duty and the registration charges for such transfers within the blood relation is the same amount i.e., Rs. 500/- only hence you better get the registered document executed and change the index or the property card transferred to your name before the redevelopment process begins.

P. Venu (Expert) 20 April 2023
On the demise of your father, the property has been jointly vested with the legal heirs. You could be the absolute or sole owner of the property only if the other joint-holders relinquish their rights through a registered deed.

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