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Property bought in 1982 but not registered how to register it
09-Jan-2023 (In Property Law)
Hi, My mother bought a property sometime in the year 1982 (agreement for sale was for that year). She now intends to gift the flat to me,however, while going thru the paperwork we were unable to find a valid stamped and registered agreement. We however have all paperwork regarding the payments made per slab etc. So my question is, how can we get an old property such as this stamped and registered and what would be the cost for the same. Would it be at present market value or the purchase price at that point in time. Appreciate your prompt replies. Regards, VB
Before10-12- 1985agreement for sale of flat was nt required to be stamped vd 5rs. so u dnt need to get it registered . However if I want to then stamp duty will be levied as per present market value.
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Adv. Dipika Jigar Panchmatia
Mumbai | 25+ Answers
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Can stamp duty be refunded?
In India, stamp duty can be reimbursed if the document has not been executed, canceled or returned within 6 months from the date of execution. Yes. You can get a refund on the stamp duty you paid in India.
What is the penalty for late registration of property in Maharashtra?
If you miss the 4 month deadline for the forgiveness of lateness, you can submit the application again to the subregistrar. As a penalty, you will be charged ten times more than the average cost of re-registration.
What happens if flat is not registered?
Ans. The developer or builder will continue to own the property if the flat is not registered. It can cause future legal issues and disputes.
What happens if sale agreement is not registered?
Unregistered Sale contracts are legally binding and insufficient stamp payments can be ordered by a court. A sale contract without registration has a validity period of three years.
As you had not paid the require stamp duty and registration charges in 1982 you need to pay it now along with penalty to the government. The valuation of property will be done as per current Market rate.
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Adv. Bharat Pandirao Pawar
Pune | 500+ Answers
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