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Property Registration and clarification on GPA
17-Dec-2023 (In Property Law)
Hi, I'm stuck in a weird situation, My apartment is nearing completion. My wife and me are joint owners. Its registration may happen in Dec but builder had postponed it to Mar. We both had specifically travelled from US now for this purpose and are leaving Dec end; My wife is pregnant and air travel is to be a bare minimun (doctor's orders). Below are my questions 1. Since apartment has not been registered, can the apartment be transferred in my name by my wife giving an affidavit and I do the registration in dec or in Mar (by travelling alone from US). (I exercised this option but builder is saying that the sub-registrar office may not take the affidavit). 2. Can me and my wife do a GPA in my brother's name who is in Blr? Do we both have to travel to Blr for this. Will the cost come to around 2% for registering this GPA, given my wife is not a blood relative to my brother? 3. Are there any other alternatives?
your wife can execute a GPA in your favour in USA itself and the said document can be notarized before a notary in USA. based on the said GPA you can get the flat registered in your joint names (you and your wife) as owners you being attorney holder of your wife. else you both can execute a Special Power of Attorney in favour of your brother for a specific purpose of representing you both to purchase the flat in question then its valid. the stamp duty attracts only when both of you authorize your brother to sell the property and not to purchase the property. hope this clarifies you.
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Adv. Kishwar Hussain M S
Bangalore | 25+ Answers
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sir, I gone through your question. 1. you cannot give an affidavit,that it has no value. 2.yes, you and your wife can give GPA to your brother. BOTH of you can give GPA from your residing country and you need not come to India for executing GPA. IF the GPA execute in India stamp duty will incur as per act. Of course, it may be 2% and above+expenses. she may be blood relative or not there is no change in the charges. 3.you alone can execute GPA TO your brother. if you need joint registration in both of your names, both of you have to execute GPA.from your residing country and the GPA holder has to present it to the concern sub-registrar to admit on payment of duty and charges. Based on that your brother can purchase the property representing on behalf of you. the katha and revenue documents will be reflect in your name only.
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Adv. Chandrashekara Reddy K N
Bangalore | 100+ Answers
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