Upgrading the property under construction with same builder

732 votes

Dear Querist, you can execute a supplementary agreement, wherein you pay additional stamp duty, change the specification of new flat, adjust the earlier consideration,confirm the agreement for sale & the additional consideration.

This is all if developer is agreeable.

But as a matter of documentation for future, it will be advisable to cancel the existing agreement and execute a fresh agreement. You can apply for refund of stamp duty.

Regards,
Rakesh V. Misar
Kachwala Misar & Co.
Advocates & Solicitors.

Advocate Rakesh Misar LawRato

765 votes

Hi,
you will have to cancel the first allotment and get it registered. You may apply for the refund of Stamp Duty as per procedure. the Builder can adjust the amount of consideration paid towards new flat premises.

Thereafter, you may enter into a new agreement by paying stamp applicable to 3 bhk flat. all precious payments done towards the old flat purchase can be incorporated here and recorded as acknowledged. one has to be careful in the documentation process of both the agreements.

Advocate Sarthak Shah LawRato

678 votes

A rectification deed /reconstitution deed may be made and accordingly a stamp duty can be paid on the remaining amt. and you can get through the situation. Even a supplementary agreement be pursued.

Thanks & Regards
Asha Bhuta
Arbitrator/Mediator
Mumbai

Advocate Asha Bhuta LawRato