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Should we buy property through a registered GPA?
10-Sep-2023 (In Property Law)
I am planning to buy a plot in Delhi through a registered GPA. Is this a good idea? Should i buy it?
No it is not a good idea. You might avoid paying stamp duty now but in the event of a dispute in the future you might end up paying heavily. It was possible to transact such sales prior to 2011 however now it would not give you any right in the property. The only thing you would be able to do is defend your possession. Not advisable at all.
Further, get a title search done for the property to make sure you are getting an unencumbered and clear title. This might cost you a little bit now but it would only be a fraction of what potential litigation could cost you in the future when your property will be worth much more.
Further, get a title search done for the property to make sure you are getting an unencumbered and clear title. This might cost you a little bit now but it would only be a fraction of what potential litigation could cost you in the future when your property will be worth much more.
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Buying a property other than registered sale deed is not valid. Buying and selling of property by GPS, Affidavit and will is not valid in INDIA according to the law laid down by the Hon'ble supreme court of India In case titled as Suraj Lamp & Industries (P) ... vs State Of Haryana & Anr 183 (2011) DLT 1 (SC).
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Adv. Anuj Arora
Delhi | 25+ Answers
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