Whther an agreement for purchase of property has to be Registered?
Mohammed Khaleelullah
(Querist) 27 December 2010
This query is : Resolved
Dear experts,
Kindly clarify whether an agreement for sale of immovable property has to be Registered. If so, Whether the value of stamp to be paid is on the guideline value or amount to be actually paid to the seller?
Thanks in advance and best wishes.
Satyendra Kumar Pandey
(Expert) 27 December 2010
Registration of agreement to sale is in benefit of the purchaser and it is based on the ...% of the sale consideration. contact with the registrar for know about the exact % value, and the stamp used in agreement to sale is deducted from the stamp required at the time of sale.
Bhawani Mahapatra
(Expert) 27 December 2010
Dear Khaleelullah
Agreement to sell is necessarily registered if the consideration is more than Rs. 100 as per Registration Act. The stamp duty is as per the prevailing rate.
Pritam Saini, Advocate
(Expert) 27 December 2010
registration of agreement to sell is mandatory as per section 49 of registraion Act ameded upto 2001,when possesion is handed over at the time of execution otherwise registration is not compelsoion
Advocate Bhartesh goyal
(Expert) 27 December 2010
I agree with MR.Pritam Saini.If at the time execution of sale agreement,possession of property is delivered to purchaser then it is mandatory to register the agreement.
N.K.Assumi
(Expert) 27 December 2010
Nothing to add more.
R.Ramachandran
(Expert) 27 December 2010
I know for certain that the answer of Mr.Arunagiri, is fully supported by Section 17 of the Registration Act.
But in regard to the answers by other experts, (especially when their answers are not in consonance with the provisions of Registration Act), they have to indicate the basis on which they are saying so. Otherwise, it won't carry any weight.
Advocate Bhartesh goyal
(Expert) 28 December 2010
Mr R. Ramchandran it seems that you have replied the query in precipitation without going through my answer of the said query and also Sec 17(f)of the Registration Act, I answered (If at the time of execution of sale agreement,possession of property is delivered to purchaser then it is mandatory to register the agreement)and the Sec 17(f) of registration act says documents of which registration is compulsory
A. Instruments of gift of immovable property .
B. Other known non-testamentary instruments
which purport or operate to create,declare
,assign ,limit or extinguish, whether in present or future,any right,title or interest,whether vested or contingent,of the value of 100 rupees and upwards,to in immovable property
C.Non testamentary instruments which acknowledge the receipt or payment of any consideration on account of creation,decleration,assignment,limitation or extinction of any right,title or interest,and
D. Leases of immovable property from year to year or for any term exceeding 1 year,or reserving a yearly rent,
E.Non testamentary instruments transferring or assigning any decree or order of a court or any award when such decree or order or award purports or operates to create,declare,assign,limit or extinguish,whether in present or in future,any right,title or interest,whether vested or contingent,of the value of 100 rupees and upwards,to or in immovable property,
F.Agreement to sell immovable property possession where of has been or is handed over to the purported purchaser.
G.Irrevocable power of attorney relating to transfer of immovable property in any way.
Now see who is right "I OR YOU'
R.Ramachandran
(Expert) 28 December 2010
Dear Mr. Bhartesh,
First and foremost let me make it clear that I am not interested in "I OR YOU", rather whether we are right.
While the Central Act (Registration Act, 1908) does not contain Section 17(1)(f) and (g), it seems there are some State specific Amendments to that effect.
Thus, while my answer is wrong to the extent that I did not put a caveat to my answer 'except in some States'.
Similarly, your reply "If at the time execution of sale agreement, possession of property is delivered to purchaser then it is mandatory to register the agreement" is also not applicable in all the States.
After all, as I understand, in this LCI our intention is to collaborate and not confront.
