Property
shrikant
(Querist) 18 June 2014
This query is : Resolved
Dear All Experts,
We have purchased a piece of land having Plot A and Plot B in my wifes name and friends name and have done sathe karar and notorised the same in the year 2002, since my friend does not want the plot B, i have bought the same by paying him suitable compensation and made sathe Karar and notorised it in the year 2011. Now i want to register plot A in my wifes name and Plot B in my name, by legal procedure, landlord is ready for registration.
What is the procedure to be followed for registration? How can i save on Stamp duty and registration charges Please suggest and guide.
Deepak Nair
(Expert) 18 June 2014
Procedure for registration is simple
Prepare a sale deed/conveyance deed (Sathe Karar in Marathi). Pay the applicable stamp duty and approach the office of sub-registrar of assurance of concerned jurisdiction.
You cannot save or avoid the stamp duty. Without paying stamp duty and registration charges, you cannot get the document registered.
The earlier documents which were notarized are invalid in the eyes of law. Thus, it is advisable to regularize the deal and register the deed without any delay.
ajay sethi
(Expert) 18 June 2014
agree with deepak nair . inorder to convey clear title to property registered sale deed is must . have document duly stamped and regd
Anirudh
(Expert) 18 June 2014
No immovable property can be legally transferred without PAYING APPLICABLE STAMP DUTY AND REGISTRATION.
If you try to save stamp duty then PLEASE REMEMBER, you will lose the property itself.
DO NOT TRY TO BE PENNY WISE AND POUND FOOLISH.
[You also should thank your STARS as what you have done so far - i.e. simple NOTORISED documents will not give you proper title to the property. Yet, the seller is ready even now to register in your favour. You are really lucky. But do not waste the opportunity by trying to save on Stamp duty, which you cannot at all save).
Further, if the value of the immovable property A or B is Rs. 50 lakhs or above, then you have to deduct 1% TDS and remit to the Government. (I hope the value of the property is less than Rs. 50 lakhs)
