Rs.20 stamp validity on buying property
perwinder
(Querist) 13 December 2013
This query is : Resolved
Please help me. I just signed a cheque for rupees 100000 as an advance and given to a developer to buy a plot for rs.367000. For this, he has given me an agreement on Rs.20 stamp with notary from Faridabad. Please let me know if this is valid in case of court case. Thanks
V R SHROFF
(Expert) 13 December 2013
seems safe transaction,
BAALASUBRAMANNYAMM
(Expert) 14 December 2013
In case of a litigation, which carried out to a civil court, if the face value of the document seems deficit, the court can take the required stamp duty, by way of impounding the document.
perwinder
(Querist) 14 December 2013
Thanks Baala,
it is just an agreement...will do the registry when I will pay 50% of the property value (after 5 months from Jan).
i just want to be sure that rs.20 stamp is valid for an agreement of rupees 367000 and on given advance of Rs.1 lac. notarized in
Faridabad
perwinder
(Querist) 14 December 2013
Thanks for everyone.
This is resolved now.
ajay sethi
(Expert) 14 December 2013
before signing any agreement you must always consult a lawyer . i hope you are purchasing property from reputed developer
T. Kalaiselvan, Advocate
(Expert) 14 December 2013
If it is a sale agreement, it is not valid if not registered, the latest ruling of the supreme court insists on registering the agreement for sale of property. This stamp paper can be treated as receipt for the amount received by the developer suppose it is an agreement for sale of the property.
R.V.RAO
(Expert) 10 March 2014
as sri balaa ji said in any eventuality of a court case ,the deficit stamp duty will be called for and the agreement will be admitted.
as sri ajay sethiji said ,prevention is better than cure.consulting a property lawyer before the deal will get you lot of peace of mind , at a very very small price of adv.fees.
as thiru kalaiselvanji said the apex court held recently that sales through power of attorney holders are not foolproof and only regd. sales deeds are valid for property regns.
