Upgrad LLM

registration under individual name.


A plot was purchased by my grandfather. After his death, we decided to get a building built in this plot by a builder who will get 50% share for the development of the plot. As per the family settlement deed, my father and uncle have equal ownership for this plot. Now my question is that once the building is built then do we need to get the registration of individual shops in the building done under respective names viz. my father and my uncle and the builder.

 
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yes you have to ,otherwise it can be transacted as benami property or trick to save the registration duty.

 
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