I purchased a property (NA factory land and buildings) from Bank of Baroda through an auction under SARFAESI.
1. Sale deed was registered by authorised officer signatory of Bank of Baroda (seller) and myself (purchaser)
2. I purchased the property at the sale price of highest bid submitted in the auction x amount
3. Due to mistake of our advocate who drafted the sale deed, built-up area was wrongly typed 2286 sq.mtrs instead of 1124 sq.mtrs.
4. Registrar office calculated and demanded stamp duty as per area mentioned in sale deed (2286 sq.mtrs). This demanded stamp duty is much higher that as calculated on sale price in auction.
5. Should I get built-up area corrected in principal sale deed by registration of deed of Rectification by authorised officer of bank of Baroda and myself even if there is a fair chance that honerable court may provide judgement in my favour to pay stamp duty only on sale price?
6. Will deed of rectification if registered cause any complications or challenge in future in any manner regarding my title, ownership, rights on property or other for selling the property, renting, leasing or to get loan?
7. Should we register deed of Rectification (for correction in built-up area) or not? As if stamp duty is to be paid on sale price in auction, built-up area mistake will not impact on stamp duty calculation.
8. Is deed of rectification perfectly valid in case of sale deed for a property purchased through an auction under SARFAESI?
File civil suit and rectify it.
