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UtkarshBTM (Private)     01 September 2017

Partition deed for owners share of flats

Dear Sir/Mam,

We had given our old house for development to a builder in Bangalore. old house jointly owned by 4 siblings. As per JDA with builder we will get 4 flats. JDA is notorized not registered. Construction is complete and builder has sold their share of flats. The 4 siblings have to get ownership of their flats(one each). What is the procedure to secure each ones share. Do we have any dependency on the builder ? Pls enlighten us. Thank you.



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T.SRINIVASULU

T.SRINIVASULU   01 September 2017

U have to execute another deed with builder called supplementart deed in whinch owners shares to be clearly mentioned with flats detailes & numbers etc., this is sufficient to show ownership, regarding Notarized JDA whether it requires registration or not depends as per guidelines issued by states. In some states it must be registered in such case u have approach concerned District Registrar for its validation on payment of defeciet stamp duty with penalty.
T.SRINIVASULU

T.SRINIVASULU   01 September 2017

U have to execute another deed with builder called supplementart deed in whinch owners shares to be clearly mentioned with flats detailes & numbers etc., this is sufficient to show ownership, regarding Notarized JDA whether it requires registration or not depends as per guidelines issued by states. In some states it must be registered in such case u have approach concerned District Registrar for its validation on payment of defeciet stamp duty with penalty.
T.SRINIVASULU

T.SRINIVASULU   01 September 2017

U have to execute another deed with builder called supplementart deed in whinch owners shares to be clearly mentioned with flats detailes & numbers etc., this is sufficient to show ownership, regarding Notarized JDA whether it requires registration or not depends as per guidelines issued by states. In some states it must be registered in such case u have approach concerned District Registrar for its validation on payment of defeciet stamp duty with penalty.
T.SRINIVASULU

T.SRINIVASULU   01 September 2017

U have to execute another deed with builder called supplementart deed in whinch owners shares to be clearly mentioned with flats detailes & numbers etc., this is sufficient to show ownership, regarding Notarized JDA whether it requires registration or not depends as per guidelines issued by states. In some states it must be registered in such case u have approach concerned District Registrar for its validation on payment of defeciet stamp duty with penalty.
Krishna. Advocate

Krishna. Advocate (Advocate)     02 September 2017

JDA should be registered.

Advocate Krishna 944796 3440

UtkarshBTM

UtkarshBTM (Private)     02 September 2017

Srinivas sir, Krishna sir, thanks for your reply. Now that the JDA is not registered, can we still get ownership documents for our flats? Builder is not cooperative, we are tired of running around their office. How can we get ownership without builder's involvement. Pls suggest.
T.SRINIVASULU

T.SRINIVASULU   02 September 2017

If u have original JDA with u approach concerned DistrictRegistrar for validation by paying stamp duty and penality
UtkarshBTM

UtkarshBTM (Private)     03 September 2017

Thank you sir. Last couple of questions. Pls excuse our ignorance. The JDA does not mention the flat numbers but only the total share of owners as 6000 so ft. Will we end up paying stamp duty for entire property which will be very expensive? We have already occupied 3 flats but 1 flat keys is not handed over yet as interiors are not completed. Builder is not handing over. Can we still get that flat after paying stamp duty.
Krishna. Advocate

Krishna. Advocate (Advocate)     03 September 2017

First visit Registar office and get it registered.

The 4 siblings have to get ownership of their flats(one each). What is the procedure to secure each ones share. Do we have any dependency on the builder 

I  have to go through the JDA. 

Krishna. Advocate 9447963440

 

 

Krishna. Advocate

Krishna. Advocate (Advocate)     03 September 2017

Karnataka.

Stamp duty chargeable for joint development agreements relating to construction or development or sale of immovable property is at the rate of one rupee for every one hundred rupees or part thereof on the

  1. Market value of the property
  2. The estimated cost of construction of proposed construction or development or proposed development of the property as the case may be [which is the subject matter of such transfer under the agreement in accordance with the provisions of sec.28 of the Karnataka Stamp Act, 1957] or
  3. On the consideration of such transfer, whichever is higher?

Advocate Krishna


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