Property purchased under srfasi act from bank
Davinder Kumar
(Querist) 08 November 2014
This query is : Resolved
Respected Sir I purchased a Residential Property under Open auction by Punjab Gramin Bank , & A Sale Certificate was issued to me. At the Time of Sale Bank Personal Told me that Stamp duty by District Registrar Will Not be levied as dedcided in a Unknown SC Judgement ,But Registrar is Demanding Stamp duty ,,,you are kindly requested to guide me what to do
Isaac Gabriel
(Expert) 08 November 2014
You need to pay the registration charges for registering in your name.
Dr J C Vashista
(Expert) 09 November 2014
Pay stamp duty with registration charges as applicable in Punjab, get it transferred and registered in your name.
Davinder Kumar
(Querist) 09 November 2014
ok thx sir ,,,,,,,,,,,,
Satya nand aggarwal
(Expert) 10 November 2014
With due respect to my colleagues . there is no need to pay the stamp duty as the document is not compulsory regisrable. See section 17 of the Indian registration act. There are many judgments on this point.
It also depends upon the state govt How they charge the stamp duty and registration fees . Earlier in Punjab there was no stamp duty or any registration fees on sale certificates issued by the court of law or any tribunal like DRT. But now as per Instruction dated 24-7-2014 the Punjab govt started charging the stamp duty, but still there is no registration fees on these documents.
Dr J C Vashista
(Expert) 10 November 2014
Since Indian Registeration Act is a union Act and Section 17 describes the documents which require optional or compulsory registeration for the transfer of title of immovable property, instant property falls under compulsory registeration.
Stamp duty being state subject is required to be consulted local lawyer/document writer or the sub-registrar.
Davinder Kumar
(Querist) 11 November 2014
@ Satya Nand Aggarwal Sir , Above Stated Property was Registered in 2009 & there after Auctioned by Punjab Gramin Bank in 2012 . hence this property does not falls under Instruction dated 24-7-2014 ( as prior period ). Sir You are requested to tell me what should i do .Should i file a case against District Registrar who is demanding under table settlement. Has this case sufficient ground to defeat district registrar .
Satya nand aggarwal
(Expert) 11 November 2014
Firstly get the mutation entered through Patwari and let the A.C. Ist grade or the second grade sanction it or reject it , In case it is rejected, file an appeal before collector and engage some good lawyer.
T. Kalaiselvan, Advocate
(Expert) 13 November 2014
Sale of secured asset in open auction is compulsorily registrable, it finds place as 130th item in the section 17 of the registration act, thus necessary stamp duty is to be paid.
Davinder Kumar
(Querist) 13 November 2014
@ Satya Nand aggarwal sir,,as earlier said that only Sale certificate has been issued bank to me ,Sir plz clarify that can i directly sell that property upon sale certificate without registering it on my name,,,,
Satya nand aggarwal
(Expert) 15 November 2014
Mr barman
You agreed with experts but experts gave different opinion.Please give u r opinion.
