I am buying a land in Karnataka and going for 4month agreement. In order to write the Agreement of 800000/-, what value of stamp paper needs to be used? Is it necessary that it needs to be notarized and/or register in sub register office?
I believe firstly the ordinary stamper will be typed with details and after signature by both the parties it needs to be taken to sub register or notary to make it valuable or something, please correct me?.
Purchase of Stamp paper: The value of the property is determined. Stamp duty, transfer duty, registration fee and other fees are calculated. The citizen purchases stamp paper from the notary or treasurer.
Document writing: Preparation of the legal registration document by document writers
For 8 lakhs, stamp duty payable is of Rs.800. Draft sale agreement on 2 rupees stamp/bond paper, get it franked for Rs.800 at jurisdictional sub-registrar office. Another option is you can register the sale agreement in sub-registrar office. If you register the deed, at the time of registration of sale deed you can deduct this amount from stamp duty. Ask your advocate to draft the sale agreement according to your terms and conditions. Deed writers just write as per their own idea, just like typist do.
I agree to the views expressed by Mr. Naveen. It is you who has to decide about getting the sale agreement registered or not because the status of vendor will be known only to you. In my opinion, you may go for registered sale agreement so that any problem in future in this regard can be tackled legally. Better consult a local advocate and get your sale agreement drafted and then you get it registered yourself.
Muniraj, read the answers again, I just cant understand why people don't believe others words even though there is correct answer for their queries. Learned senior advocates have advised properly, still if you are in doubt visit lawyer/sub-registrar office. that's very simple.