Property transaction not getting reistered
Rohit Gadsing
(Querist) 10 May 2014
This query is : Resolved
We have entered agreement to sale with seller for buying shop property. But it was not registered but notarized. I(buyer) have paid 90% of sales consideration price (paid by crossed cheque). & also paid requisite stamp duty & registration fees.& I(Buyer)am/is also ready to pay balance on registration.I/Buyer also have/has the possession of shop(property).
Document was presented to SRO for registration.My /Buyer's Photograph has been already taken by SRO & Dast no is also allotted to Document.But Seller at the time of registration in SRO refused to Sign & take photograph & ask for extra amount for income tax as Stamp duty valuation increased by Jan 14 new reckoner which is now more than actual consideration.& Tax is payable on Higher of two.But Agreement to sale does not have any such a clause for payment of tax.
In the above case,what are the options available to buyer ?
Will buyer face any difficulties?& what (if any )?
ajay sethi
(Expert) 10 May 2014
it is better to arrive at an amicable settlement with the seller .
registration of agreement is necessary to be admissible in evidence .
you can move court for necessary reliefs if you so desire
Rohit Gadsing
(Querist) 10 May 2014
Valuation of property is increased by 50% & the tax amount comes very high & he is not ready to accept anything lesser than tax amount.
Devajyoti Barman
(Expert) 10 May 2014
After the execution of the agreement, both party is bound by the terms of it.
If you are not ready to pay extra money then you can file suit for specific performance of agreement.
Rajendra K Goyal
(Expert) 10 May 2014
The stamp duty purchased would be of no value if refund not claimed in 6 months.
If no amicable solution possible, you have to file legal suit which would take years in decision and the circle rate would go on increasing.
Sankaranarayanan
(Expert) 10 May 2014
Yes if you are not pay extra then only the way to file suit for specific performance of agreement as suggested by mr Barman
T. Kalaiselvan, Advocate
(Expert) 11 May 2014
The reply/opinion to the repeated query has been posted to his previous post, the author may see my opinion too.
