chandra (uyu) 25 November 2010
I'm planning to buy one property. The present owner has purchased the property IN 2009 based on a unregistered GPA dated 2005. GPA was given by mother and her 5 daughters.
Now my lawyer is saying that GPA was unregistered and understamped (Stamp paper Rs.100/-) so I don't get loan from banks.
What is solution for this. Should I buy or not.
Please help.
SURESH KRISHNA (working as Deputy Manager - Legal for DLF India Limited) 25 November 2010
First of all ask your vendor to get it register the GPA by paying deficit stamp duty. Then it is advised to enter in to any agreement with the Vendor.
Solicitor Chirag Shah (Advocate & Solicitor) 25 November 2010
As per Transfer of Porperty Law and other related Laws thereto, an Interest in Immovable property can not be transfered to another person till the document (whether Deed or Agreement or POA) transfering right is duly stamped and Duly registered.
Hence, GPO should be Duly stamped and Registered. It will reduce chances of Fraud and futhre disputes.
chandra (uyu) 25 November 2010
Thanks for the quick response. To register the GPA do we need the signatures of people who issued the GPA or can the Vendor pay the stamp duty and get it registered himself?
Viswanath (Student) 25 November 2010
To create encumbrance over the property, the GPA must be registered.
Otherwise, it is not valid.
chandra (uyu) 26 November 2010
Vendor is prepared to register the GPA. The question is can anybody pay the stamp duty and register the GPA dated 2005 or the the original owner who issued the GPA required for registration. Please clarify
SACHIN AGARWAL (ADVOCATE) 26 November 2010
G.P.A. can be registered in the presence of the persons who have executed the same.
chandra (uyu) 27 November 2010
Thanks all for the help.
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