Stamp duty
vaibhav
(Querist) 08 April 2014
This query is : Resolved
Some people came together and registered a Co-Operative Hsg. Soc. and purchased plot in the name of society by registered Sale Deed. At the time of starting construction,society has executed an agreement with the members and subsequently handed over the possession of flats to the members of the society. However both the agreement and possession receipt were not registered in any manner.Plot, plan sanction, commencement and completion certificate all documents are clear.
Now one of the member/flat owner is trying to Sell his flat.
The purchaser has raised the query regarding non payment of stamp duty by the owner of the flat at the time of agreement and possession,with the society.Bank is also ready to sanction the loan subject to consent of Society.
Now the question is whether the said property (flat) can be said as clear title to purchase?
Pl give opinion of the issue.
T. Kalaiselvan, Advocate
(Expert) 09 April 2014
What about the registered sale executed in favor of the proposed vendor by the society?, is he having the sale deed on his name or not?, you may have an opinion from a local lawyer by producing the papers related to the house property and proceed as per his advise.
Advocate Ravinder
(Expert) 09 April 2014
It seems that you have paid some advance amount at the time of entering into Agreement. The balance amount ought to have been paid at the time of handing over of the possession. You have committed a mistake here. You should have demanded for execution and registration of the sale deed of your flat. Unless it is registered, the title will not come to you, even if you have document of handing over of possession. You are a mere agreement holder.
As for as bank loan is concerned, if the bank is ready you can avail the loan with the consent of Society, but to avoid future complications, you have to get executed sale deed by paying the required stamp duty and registration charges in the sub registrar office. The problem arise when you want to sell your flat to some third party.
