Sims010101 (Service) 03 July 2014
I am buying a flat in Navi Mumbai. The Occupation certificate is received. The Agreement with builder for which I am paying stamp duty should be Agreemet for Sale or Sale Deed? Kindly tell me the differenxe.
Secondly the building is on CIDCO plot. I have seen a copy of the Tripartite Agrrement between CIDCO, original alotees and developer and the approved plan. What other papers I should ask?
Adv Akhtar Ali Sheikh (Property Law Consultant) 03 July 2014
Agreement of Sale and Sale Deed are one and the same.
In sale deed all the terms and conditions between the parties have come to an end and nothing further remains to be done by the parties resulting in the culmination of absolute sale.
In Agreement for Sale some of the conditions yet remain to be fulfilled like the consideration amount is partially paid, possession is not yet given, transaction between the parties is not as yet complete etc.
After agreement for sale is registered the parties may enter into a sale deed and register the same by paying nominal stamp duty of 100 rupees which is rarely resorted.
Sims010101 (Service) 04 July 2014
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