Agreement to sale is it good to register
Querist :
Anonymous
(Querist) 12 September 2011
This query is : Resolved
We are the joint seller can we register agreement to sell. Is there any risk involved in it from the point of seller. What is the stamp duty the purchaser has to pay in karnataka for agreemnt to sell and absolute sale deed if he is buying land and building in malleswaram. What is the minimum value of the property to which we have to register in malleswaram 4yh main road Bangalore for land and building.
adv. rajeev ( rajoo )
(Expert) 12 September 2011
You can execute the agreement of sale jointly. No risk it depends on your contacts.
Stamp duty you will have to pay inaccordance with the stamp act. I think it comes around 13# including all expenses.
If you hand over the possession then agreement of sale is compulsorily registrable, if not it is not necessary.
Advocate Rajkumarlaxman
(Expert) 12 September 2011
I agree with our expert Adv. Rajeev. and if you are giving possession and if the purchaser is giving the full payment then go for registering sale deed itself.
Guest
(Expert) 12 September 2011
It is always good for both the parties to register the agreement to sell.
Sailesh Kumar Shah
(Expert) 12 September 2011
Registration of agreement is always best to bind terms and conditions of agreement.
I humbly disagree with Experts Shri Adv. Rajeev and Shri Raj kumar Laxman,Adovcate.
Stamp duty would be paid by purchaser, even possession is not being delivered.
I would like to your kind attention about Section 17 (1)(b) of the Indian Registration act, which says that "other non-testamentary instruments which purport or operate to create, declare, assign, limit or extinguish, whether in present or in future, any right, title or interest, whether vested or contingent, of the value of one hundred rupees, and upwards, to or in immoveable property;"
Sailesh Kumar Shah
(Expert) 12 September 2011
Q. What is the minimum value of the property to which we have to register in malleswaram 4yh main road Bangalore for land and building.
Ans. you have to show in agreement/ Sale Deed actual consideration of property, which is received or to be received.
Stamp Duty would be paid on consideration or market value, whichever is higher, as fixed by the Dm.
Please check registrar office for stamp duty.
prabhakar singh
(Expert) 12 September 2011
I agree with legal position told by Mr.Expert : Shailesh Kr. Shah,however stamp duty paid on agreement is adjustable at the time of execution of sale deed.
A registered agreement ,required or not,is always better piece of evidence in comparison
to an unregistered one.
Shastri J.K.
(Expert) 12 September 2011
I also agree with expert Adv. Rajeev
Raj Kumar Makkad
(Expert) 12 September 2011
I want to divert allegation of all lerned experts that Hon'ble Apex Court of India vide its latest judgment has specifically held that if sale-agreement is not registered, the relief of specific performance cannot be provided.
girish shringi
(Expert) 13 September 2011
However the TOP Act is clear about it,so it is not necessitated to register mandatory.
It is voluntary which I understand, further as Mr. Shailesh has informed to use the stamp duty on agreement to sale is not applicable
,it can be done on the stamp paper prevailing in the sate for the agreement.
The stamp duty fully paid only on the Conveyance Deed.
girish shringi
(Expert) 13 September 2011
Could it be the sale agreement then the specific duty is applicable,in the case.
Make bifurcation between
Agreement to sale
Sale Agreement
Sale Deed or Conveyance Deed.
