Sathya (Manger) 20 November 2012

Sale agreement query

Hi Everyone,

I am very much a beginner to this forum, Working for a IT Firm. Need a legal advice on my situation.

Scenario : Planning to purchase a property. Made a initial advance payment signing a Sale Agreement. Sale Agreement was made using a 100RS E-Stamp paper purchased from Sub-Registar Office. After a month of Sale Agreement the Seller is saying he does'nt want to sell the property.

But, I am very much interested in purchasing the property. have taken a loan from Bank as well for the same.

How to proceed please Suggest.

Regards

Sathya

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3 Replies

Prabhakar L.Shetty (Advocate) 20 November 2012

for the sale agreement the stamp duty is 0.1% on the market value or maximum of 20,000/-

in your case you have paid only 100/- stamp duty, unless and until you pay the deficit stamp duty, you cannot approach the court for enforcment of contract. even if you appraoch the court on the basis of understamped docuemnt, the court has power to impoud it and may also impose you 10 times of fine.

You can also pay the deficit stamp before approach the court.

Before apporaching the court for specific performance; make sure that you have performed your part of contract under the said sale agreement.

Regards,

Prabhakar L.Shetty,

Advocate

adv. rajeev ( rajoo ) (practicing advocate) 20 November 2012

Issue legal notice to him showing your ready and willingness to purchase the property. But in the recent supreme court decision agreement of sale should be regd., one.