New registration rule
neetinkumar
(Querist) 04 January 2012
This query is : Resolved
As per new rule somebody told me that you have to register your property deal compulsory within 8 months and after that they will not accept your registration even with penalty.In my case i have a flat at dahisar,mumbai,purchased in the year 1980 in my sole name. Agreement deed with builder is in my possession and i am member of my soceity with share certificates in my name,but i have not registered my agreement with registrar office since 1980.Now what will happen if i want to sell or gift my property?please tell me the axact rules and procedure to sellout above property.
Thanking You!
ajay sethi
(Expert) 04 January 2012
if agreement is not rgistered it is inadmissible in evidence . document has to be registered within 4 months . further 4 months time on payment of penalty .
if you want to sell the property you will face problems as agreement has not been registered . banks will be reluctant to grant any laons
ajay sethi
(Expert) 04 January 2012
the parties to the document execute a Deed of Confirmation confirming that the main deed is valid and binding upon them. By way of such a deed the transferor/s also confirm/s that he/they hold/s no right, title and interest in the property and the same is being transferred to the transferee/s. A copy of the main deed is annexed to this Deed of Confirmation. This is the only manner in which the lapse in registration can be rectified
bhagwat patil
(Expert) 05 January 2012
First your builder should transfer the property in your name by way of sale deed, then only you can sale it.
Deepak Nair
(Expert) 05 January 2012
Rightly advised by Mr.Sethi
prabhakar singh
(Expert) 05 January 2012
query solved by Mr.Sethi,follow his guide lines to do things now without delay.
Raj Kumar Makkad
(Expert) 06 January 2012
No scope remains now to add more because sethi has already summed up it.
V R SHROFF
(Expert) 06 January 2012
in 1980, there was no Stamp Duty.
Agreement must be on Rs 5/- adhesive stamp
Registration was not compulsory.
SO DO NOT WORRY. THIS IS OLD DOCUMENT.
