Rajesh (Analyst) 11 December 2011

Sale deed

Dear Sir/ Madam,

I am planning to buy a site in Bangalore. Before the complete payment of the land I have to give 20% of the total amount.

For the initial payment is it better to make aggreement in Sub-Registrar office or mutual aggreement is fine? What are the important terms sould be mentioned in the Sale deed. Can someone provide a sample sale deed?

Do any banks is Bangalore provide site loans?

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4 Replies

Shailesh Kr. Shah (Advocate) 12 December 2011

It would be best for you to engage lawyer, who is specialist in this field.

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Malay Shukla (Advocate) 12 December 2011

Registration of the agreement to sell is a secure mode of making the transaction as the sadi document has legal sancitity and cane be taken as peice of evidence in case of a dispute the only drawback is that the payment of the registration fee twice as the stamp minus Rs. 100/-( cost of agreement may from vary from state to state) is adjusted in the stamps over the sale deed, if the 20% amount is not very big and the seller can be trusted a slo the period under the agreement is short then mutual agrement on 100 rupees duly notarised can be used.

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Rajesh (Analyst) 12 December 2011

Thank you all for the details.

Where can I get contact details of lawyers (in Bangalore south) who can provide me the legal opinion for the property and can prepare the sale related documents.

Thanks..

Rajesh (Analyst) 18 December 2011

As suggested I have given the property documents for legal verification.

After taking the legal opinion is it important to give Public Notice in News papers asking for objections from anyone having interest in the proposed transaction?

Thanks..