I have purchased one flat under SARAFAESI Act, 2002 from one Nationalised bank.
Bank has given me Memorandum of Sale on which bank insisted to pay stamp duty, which I paid also and got registered with sub-registrar and bank manager himself came for registration. So it became my Sale Deed.
Now I came to know that the memorandum of sale is not the Sale Certificate as per Appendix V of the Rules and now bank is not giving me Sale Certificate as per Appendix V format. Bank says whatever given (Memorandum of Sale) is sufficient.
Now what should I do?
1) What can I do to get the Sale Certificate from the bank as per Appendix V format?
2) If at all bank gives me Sale Certificate as per Appendix V, do I need to pay stamp duty again? and Have again register it with the Sub-registrar? or will have to register with sub-registrar as a "Deed of Rectification" ?
3) Even if stamp duty and re-registration is not needed again, Is it recommended to have it done?
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Following is the format of Memorandum of Sale issued by the bank to me.
And which is duly stamped and registered with sub-registrar
So & So bank
Address of the So & So bank
Memorandum of Sale
1) In respect of : Address of flat mentioned here
2) Name of the purchaser: my full name mentioned here
3) A) Total amount of bid accepted: Bidding amt mentioned here
B) Amount paid as EMD : EMD paid mentioned here
C) Amount equivalent 25% (Less EMD) : Some figure mentioned here
D) Balance amount equivalent to 75% : Some figure mentioned here
Total Total figure mentioned here
The sale is subject to terms & condition mentioned in public notice for sale as published in the news papers and the tender/document and confirmation of sale by the Authorised Officer as per SARAFAESI Act. After the confirmation of the sale, a Sale Certificate will be issued. The original of this sale certificate is liable for pay stamp duty to be paid by the purchaser. He/she shall also liable to pay registration and incidental charges.
Signature of successful bidder Signature of Authorised Officer
Photograph of mine Photograph of Authorsied Officer
Signature of witness I Signature of witness II
