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ROHAN PATEL (DM)     28 November 2010

FRANKING OF AGREEMENT

I am buying a flat from a builder.Flat is not build yet just launched.

I have paid deposit to book the same.

Builder wants Rs 20000 for franking the sales agreement.

What does that mean?

I am buying first time.Also his company has sent me a sample agreement via e-mail.

Also they (Builder) wants 15% of flat money as agreement deposit which is about 7 Lakhs Rs.

Can you please advise is taht a normal procedure?

Thanks,

Rohan



Learning

 7 Replies

PJANARDHANA REDDY (ADVOCATE & DIRECTOR)     28 November 2010

FIRST TAKE LEGAL OPINION OF ANY LEGAL PRACTITIONER OF THAT AREA. HE WILL GUIDE YOU ALL LEGAL FORMALITIES.

BUT HE MAY CHARGE FOR THE SERVICES RANGING FROM  5 TO 10K.  

Darshan Panchal (Advocate)     28 November 2010

Mr. Rohan first of all i understand and hope that you have checked and verified the title to the land. That there r no charges in favour of anyone, no litigations, NA permission having been obtained etc. You can obtain search of your survey no. and search of sub-Registrar of Assurances and satisfy urself. Then comes the Agreement For sale on which franking of Rs. "100" is to be done. i wonder why is he asking for 20,000? Only Rs. 100 is to be paid as stamp duty. unless possession is given under Agreement for sale, it invites stamp of only 100 and get it registered also or else for any releief unregistered ATS has no value in the eyes of law. Stamp duty @ 4.5% of the consideration is payable on Conveyance i.e sale deed and 1% registration charges. Make sure that ur not fooled by builder and be alert while dealing with him. Update yourself before proceeding ahead.

Bharatkumar (ADVOCATE )     30 November 2010

In Gujarat the Stamp Duty is 4.9% and Registration fee charge is 1% ( Total 5.9%) duty is compulsory. If the propety is name of only lady the Registration fee is waived. And service tex is applicable now but i don't know the %.

Bharatkumar (ADVOCATE )     30 November 2010

In Agreement for sale the stamp duty is not morethan Rs. 100 and registration fee is nominal (Apporx Rs. 300)  

SALA SATEESH (lawyer)     03 December 2010

Dear Rohan,

 

Franking  means on payment of  sufficient stamp duty generally  the amount so paid  shall represent on the plane executed paper  , this franking is subsitute to Non judicial stamp paper, which is a recognised process.

Regards,

S.Sateesh

kunal Sangle   15 October 2016

Franking aapne ko hi karna padata hai Wo kam Builder ka nahi hai Franking charges max to max 3000 tak bas

kunal Sangle   15 October 2016

And depend upon loan agreement 10 lakh ko 300 rupaye hai to calculation Kar abhi.

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