tWe had bought an office in 1994 in Mumbai. The sale was not registered. We had got the sale transfered to our name on a Rs5 stamp paper. We had bought the property at 3 lakhs and paid a stamp duty of 30,000. Do we need to get it registered inorder to sell the property now. There are conflicting views I am getting. Broker is saying you need to pay stamp duty again at current price + penalties and some legal person is saying that we need to get it adjuridicted. i.e. get some letter saying that whatever stamp duty was paid at that time was correct.
Please guide since the buyer is asking us to get this registered before he buys the property.