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How to cancel flat registration agreement and get refund of stamp
19-Apr-2023 (In Property Law)
I have purchased flat from vendor by executing agreement for sale by paying stamp duty and registration . I have paid considerable amount and I'm supposed to pay remaining amount by the way of home loan and partly by arranging finances from other sources within 3 months of the execution of agreement which is mentioned in the agreement. The bank hasn't yet disbursed the remaining amount and also there is no cancellation clause mentioned in the agreement. Due to non arrangements of adequate finances and unavoidable technical problems, how can I proceed cancellation of agreement and can I get refund of stamp duty?
You can either ask the builder/vendor to wait for some time or promise to pay him later or as soon as your loan gets sanctioned. Still if he is not agreeing then, you can ask him to return the amount which you have paid earlier. Also, Only when the Stamp paper has not been put to use (i.e. not used in any manner or anything written on it) there is provision for refund of the stamp duty.
But in your case, the stamp papers seem to have been utilised and even got registered. It is only after such usage that you want to get the money back. REFUND in such situation IS NOT AVAILABLE.
But in your case, the stamp papers seem to have been utilised and even got registered. It is only after such usage that you want to get the money back. REFUND in such situation IS NOT AVAILABLE.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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