Sra property stamp duty & registration procedure
Jasmine
(Querist) 13 April 2014
This query is : Resolved
Respected Sir's,
I have a property in a SRA building that was directly purchased from builder 13 yrs back. We now want to sell this property but are facing problems because there was no Stamp duty & Registration paid on our name at the time we purchased the flat. The papers which builder have given us are in the name of dummy. Could you please provide us the correct procedure to move ahead with selling the property. Are we need to pay our Stamp duty & registration or the purchaser directly will have to pay their stamp duty & registration???
Thanks a lot in advance for your help.
ajay sethi
(Expert) 13 April 2014
sale deed ought to be compulsorily stamped and regd . the said document cannot be registered now . registration can be done maximum within 8 months on payment of penalty .
contact the builder . request him to execute deed of confirmation . have it duly stamped and regd .
Jasmine
(Querist) 13 April 2014
Sir,
we have contacted the builder several times but his lawer says that they have dissolved the company and dont have any rights with them. They say that we can just pay our stamp duty with panelty & than the buyer can apply for his stamp duty & regisyeration. Is this correct??
Thanks
ajay sethi
(Expert) 13 April 2014
your sale deed with builder was required to be registered . you can pay stamp duty with penalty if yo so desire . If stamp duty is not paid on time, it attracts penalty at the rate of 2% per month on the
deficit amount of the stamp duty. However maximum penalty can be only 200% of
the deficit amount of the stamp duty. Minimum penalty is Rs.100
ajay sethi
(Expert) 13 April 2014
since your agreement is not regsitered it is doubtful any purchaser will come forward to purchase your flat . title is defective and not clear and marketable
Jasmine
(Querist) 13 April 2014
Sir,
Please suggest a possible way to get these docs cleared asap. Thanks
Jasmine
(Querist) 13 April 2014
Sir,
Please suggest a possible way to get these docs cleared asap. Thanks
Devajyoti Barman
(Expert) 13 April 2014
You are rightly advised.
Get the deed registered first.
Rajendra K Goyal
(Expert) 13 April 2014
Well advised by the experts, agree to it.
ajay sethi
(Expert) 13 April 2014
pay stamp duty with penalty first
T. Kalaiselvan, Advocate
(Expert) 14 April 2014
I agree with the opinions and advises by the experts, you may proceed as per advise given.
Jasmine
(Querist) 14 April 2014
Sir,
one of the broker told us that stamp duty paid is valid only for 3 months....so unless there is a party willing to purchase the flat, there is no use of paying stamp duty. Is this true??
we are in a really confused state now with clearing the papers.
Jasmine
(Querist) 14 April 2014
Sir,
one of the broker told us that stamp duty paid is valid only for 3 months....so unless there is a party willing to purchase the flat, there is no use of paying stamp duty. Is this true??
we are in a really confused state now with clearing the papers.
T. Kalaiselvan, Advocate
(Expert) 14 April 2014
You have been advised to pay the deficit stamp duty and get the property properly registered on your name so that it will be easy to find a purchaser, the present status of the title is defective and not marketable so any purchaser who seeks legal opinion may withdraw his intention, therefore the choice is yours.
Jasmine
(Querist) 14 April 2014
Sir,
we have contacted many advocates but all that they say is we can only pay stamp duty but cant register the property in our name. Based on my stamp duty papers, the next purchaser can do both stamp duty & registeration. Just wanted to know if this is the correct process to follow.
Thanks
ajay sethi
(Expert) 15 April 2014
have already advised . pay stamp duty with penalty on your flat agreement .
it is not valid for only 3 months as allegedly mentioned by you .document cannot be registered now .
if you are able to find a buyer for your flat sell it
