Exchange of flat

anurag kaushik (Querist) 07 February 2012 This query is : Resolved
I have a flat at Vasundhra Gaziabad and want to exchange with owner who has flat at Muniraka DElhi(DDA).
Questions:
1) Is it possible to have a reciprocal sale deed citing difference in amount?
2)Where the sale deed(deeds) need to be registered?
3) At what stage posession will be transferred?

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Devajyoti Barman (Expert) 07 February 2012
1. Yes, very much.
2, In either of the places.
3.On execution and registration of Exchange Deed.

Shailesh Kr. Shah (Expert) 07 February 2012
@Mr. Barman,

I have also similar opinion as you stated on point 1 & 3. But property situated at two different State of India, one is from Uttar Pradesh and another is from delhi. So, how can exchange deed to be registered ??

Devajyoti Barman (Expert) 07 February 2012
As per section 28 of the Registration Act every document which is compulsorily registrable as described in section 17 can be registered at the office of the Sub-Registrar where all or any portion of sch property is situate.

Shailesh Kr. Shah (Expert) 07 February 2012
Thank you Barman Sir for reply.

prabhakar singh (Expert) 07 February 2012
ALL questions have answers in affirmative.

Deepak Nair (Expert) 07 February 2012
Dear Mr.Barman, thanks a lot for throwing light on the above.

anurag kaushik (Querist) 07 February 2012
Thanks a lot to Mr.Barman and other learned contributors.
Two more questions:
1) what will be the consideration for calculating stamp duty.
2) Reg. Jurisdiction For example if we register at DElhi no part of Ghaziabad proerty is in delhi.Reciprocal for Delhi property in Ghaziabad.
3) how will registering authority know the circle rate of another state?

R.Ramachandran (Expert) 07 February 2012
Dear Anurag,
The stamp duty is payable on the value of the property which is higher.
Forget about the Registrar, you as a buyer or seller or exchanger of properties know what is the prevailing circle rate in each of the places where the property is situated. You will have necessary notification / circular to that effect. Keep it with you.
You know irrespective of where you want to register, you have to pay the stamp duty on the higher value.
If you register in Delhi and if the value adopted by you in consonance with the guideline value at Delhi then the Registrar will have no objection (this is mainly on the presumption that the rate at Ghaziabad cannot be higher than in Delhi).
In case he has doubt, you will be able to produce the documents i.e. notification/circular in your hand to clarify the point.
In case you prefer to register in Ghaziabad, again the same procedure.
Please remember, ultimately, if proper stamp duty is not paid, you will be the sufferer and not the Registrars.
A straight line is always the shortest route and NOT any SHORT CUT.
In the worst scenario, if need be, the registrar concerned will communicate with his counterpart and ascertain the information.