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kumarkanta (Consultant)     12 August 2013

Query on sale agreement registration

Hi Everyone,

 

I have few queries on registration of Sale agreement, Please help me to understand this.

I selected the property in hyderabad and given 20% as downpayment to the builder and took the aggreement of sale also which is not yet registered. Now loan processing started, at the same time i thought to withdraw my PF amount(I have completed 5 years of service to withdraw the amount to buy a house) to reduce my loan burden as well as to utilize my PF Amount for registartion of the property also.

Now my company asked me to submit  "Certified true copy of the Agreement with Seller, duly registered under the Indian Registration Act,1908" for PF withdrawal.

When i enquire the same thing with my builder he said registration of agreement is nothing but registering property and i will get that once the registration process completes and mentioned i need to pay 6% of total value of the property as registration charges, Then i questioned him about SALE DEED. He said both are same.

Here totally i got confused and would like to understand these terms,charges in hyderabad and process.

1)In hyderabad What is registartion of  Sale agreement and how much i need to pay as registration charges?

2)What is SALE DEED?

3)In hyderabad What are the registration & stamp duty and etc charges for registering the property or excuting SALE DEED? Apologize me if confused with this question , Actually i would like to know all other charges and process after complete payment.

 

Thanks & Regards,

 

Kumar.

 

 



Learning

 2 Replies

jayakumar.R (ADVOCATE & LEGAL CONSULTANT)     12 August 2013

1) For registration of Sale Agreement or Development agreement  Stamp paper is generally  Rs.20/- and registration charge is 1% of the total value or Whatever the Advance Payment paid at the time of agreement.

2) Sale Deed is entirely different from Sale Agreement -  Sale Deed means the right of the property is transfered from one person to another.

3) For more details contact your local Lawyer or visit  www.registration.ap.gov.in

Suri.Sravan Kumar (senior)     12 August 2013

the agreement must be made on Rs 100/- stamp paer and not Rs 20/-. For registration charges pl visit the site.


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