Samueallss (abc) 25 November 2010

Mortgage Deed stamp duty

Sir,

I have entered into an agreement of resale flat purchase where i am the 3rd owner. Problem is that original agreement between Builder and 1st owner is missed by 2nd owner. But 2nd owner has the certified copy of the same agreement. In addition to that he has launched FIR for missing documents after execution of my agreement. I had given a Public notice in news paper through a lawyer for the said flat. 2nd owner is ready to accept any future claim for the said property through a written agreement. But still my bank (LIC HF) is insisting me to do a mortgage deed for home loan.

I think in case of loss of title following things are important :

Certified true copy, FIR for lost document, Public notice.

Is there any way so that I don't need to pay additional stamp duty and Regn chgs as I have already paid 65,000/- for this. Please suggest me.

Atanvir

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3 Replies

M. A. Khan (advocate) 25 November 2010

Bank execute mortgage deed with customer to secure their loan amount. All you need to do is that creat simple mortgage by keeping original agreement with bank. There is no much stamp duty upon mortgage deed. Its upon the amount you borowed from bank. The stamp duty shall be .5% of loan amount.