Property registration

Querist : Anonymous (Querist) 20 January 2011 This query is : Resolved
Hello,

My query is on registration of property in Bangalore in second sale (not from builder, but from an individual). The following are the facts;
1. The land was originally owned by 3 owners, who got into a development agreement for developing the property in a multi storyed apartment.
2. The present owner purchased the flat from them, by entering into 2 agreements a. Sale Deed for purchase of Undivided shared of land and b. Agreement for construction of flat. The sale deed was registered with the value of land mentioned in it and the Agreement for construction of flat was not registered. Hence the stamp duty/registration charges were only paid for the land portion purchased.

Query;
1. Can I also now purchase the property by registering only the land agreement and the having the contruction agreement assigned in my favor?
2. What are the possible problems if I follow this methodology?

Request your help in this regard.Thanks

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A V Vishal (Expert) 20 January 2011
You have not mentioned whether the construction is completed or not?

In case, the construction of the property is complete, you have to go for a sale deed only

Devajyoti Barman (Expert) 20 January 2011
1. So that means you have completed the purchase only in respect of the proportionate share in land and not in respect of the flat. No transfer of immoveable property is completed unless the same is registered on payment of requisite stamp duty and the registration fees. It is surprising how the first purchaser bought that property in not so legal manner.
2. Do not fail to register the deed of sale and a single deed of sale with regard to both the share in land and the flat is advisable. The original owner is aslo advised to be incorporated as a Confiirming Party since your seller has not completed the purchse by registering the deed of sale of the flat.

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