RSwaroop (Mr) 07 September 2012

Gpa for property registration

Folks,

I have been a silent viewer of this forum , it has been of great help , thanks for sharing info here.

I am an NRI , I have purchased a flat from a builder in Bangalore . The builder will be giving possession of the flat in November. I have the following questions/ clarifications in this regard

1.Do I have to be physically present to get the property registered in my name ? Can I get the property registered if I give a POA (power of authority to my father or to my wife) ?, I heard from sources that due a supreme court ruling a POA doesnt work any more for property registrations ? is it true ?

2. Is it necessary that I get the property registered inorder to rent it out ?

Thanks,
Swaroop

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3 Replies

S Jadhav 98336 98330 (Jadhav & Associates) 07 September 2012

There is no Supreme Court judgement barring power of attorney(PoA) usage for registering a sale deed of immovable property.

YOu can make a specific PoA in the name of your father or any trusted person and give him power to complete the sale/purchase formalities like registration and signing documents on your behalf.

The Courts have termed illegal those transactions which the PoA is taken from the seller but no stamp duty is paid or registraion is not done, etc. with the intention of evading the legal payments.

You do not have to worry about these things and can issue a specific PoA for a genuine & legal transaction.

S Jadhav

Naveen Kumar (service) 07 September 2012

Hi Swaroop

Execuing GPA within blood relations is permissible and other than this one need to pay stamp duty for executing GPA. In your case You can execute GPA in favour of your father or wife. For this you need to attest the GPA from indian embassy of your place, then the same has to be attested for Rs.200 before Registrar of Stamps, here at Bangalore. [some time Sub-registrar will ask Geonological Tree - keep it ready]

Other than executing GPA Why cant you register the property in your wife's name. And also you can register the property in joint names of u and u r wife.

2. Is it necessary that I get the property registered inorder to rent it out

If execute Rent agreement for 11 months registeration is not required. [ recently Govt of Karnataka made a compulsory rule for registration of Rent Agreement whether it's 11 montts or more. [But this is not implemetned effectively].