Yogi (sr asscoaite) 17 January 2016

Flat with agreement of sale

Hello,

i had purchased flat 8 years back & executed agreemnt of sale for bank loan purpose.

all due or conditioans mentioned in that agreement duly fulltilled on timely manner. Once bank issues loan i thought all is done however during browsing this site (very late ) got to know their is differnace between Agreement of sale & Sale deed. Now i need to sale my flat. Can i see on the basis of agrement of sale or sale deed is must. If must do i need to pay again stamp duty or reg as per currnet market rate (even if i had paid in past while executing agreement of sale ). I am member of socitey , all light & municipal corporation bills come on my name.

Yogesh

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6 Replies

adv.raghavan (Advocate,9444674980) 17 January 2016

You should have valid sale deed to transfer your property.

Kumar Doab (FIN) 17 January 2016

It is surprising that bank disbursed full loan on the babsis of mere agreement to sell and did not keep sale deed as security!

You can sell only if you have attained rights equal to or as owner..

jagannath magar 17 January 2016

You can sell it .first you pay outstanding loan in case having funds otherwise discuss with bank and buyer .

Yogi (sr asscoaite) 17 January 2016

Thanks for reply. Agreement of sale executed as per , Maharashtra Ownership Flats (Regulation of the promotion of construction, sale, management and transfer) Act, 1963

in below i got to know that as per above act it not mandate to have sales deed.

https://www.livemint.com/Money/PczQpznAU0j44XdtkDC2xK/Sale-deed-not-mandatory-if-property-bought-from-builder.html

Kindly advise if it still have to go to builder to get sale deed executed and since stamp duty and registration fees paid during agreement of sale ,do it again need to pay it.