Ownership title
Balaji Bingi
(Querist) 26 June 2014
This query is : Resolved
7 friends come together and purchased a Plot of Land and Constructed 10 Flats on the Land, they have executed the deed of declaration and Paid the stamp duty on Land but not on the constructed property
now they wanted to sell one of the Flat to another person, for which they have registered Deed of Declaration stating as owners of the Property, But the Legal search team of the SBI Says that Legal title will not pass to the owner unless the Payment for stamp duty is made on construction value.
Now I had recently made the agreement to sale with one of the person from 7 Friends
I have the following questions
1.Is my agreement void
2. if it is void how can I get back the registration fees and stamp duty
3. what are remedies available to rectify the same
4. this issue is of Maharashtra
5.how the My agreement of sale for flat will be valide, what are the steps I should take.
Devajyoti Barman
(Expert) 26 June 2014
1. It is not void and very much valid.
2.No need.
3.Add other 6 persons party to your deed of conveyance or at least and them witnesses.
4.alright
5.follow the instructions above.
R.K Nanda
(Expert) 26 June 2014
consult local lawyer.
Raj Kumar Makkad
(Expert) 27 June 2014
I do endorse the advice of Barman. The contract is valid and there is no requirement to pa stamp duty against the construction at this stage.
Balaji Bingi
(Querist) 27 June 2014
Sirji
Thanks for your reply but whether the issue of evasion of Stamp duty will arised due to Lawyer of SBI Panel
So please advise whether it is necessary/compulsory where I can find the reference in the act/law/case law for the same
Balaji Bingi
(Querist) 29 June 2014
Whether the stamp duty is applicable for declaration value ( including Construction Value) or without the Construction Value when it is developed by friends
Raj Kumar Makkad
(Expert) 30 June 2014
In the given case, it shall be presumed that the house was earlier constructed by the buyer of the plot hence the earlier stamp duty over the constructed premises shall be justified accordingly otherwise there is an evasion of the stamp duty.
