Document1 Residential propertyrowhouse purchased in Pune on 21st September 1994 Seller - Developer of Pune Buyer - Mr Bajaj resident of Mumbai For Value - 12.5L, the document has special adhesive with 5000 X 10 on first page and stamped with GSO round stamping over it with date mentioned 21st September 1994 Document is not registered. Payment was spread based on construction activity uptil possession scheduled on 31st July 1996 Document2 On 20th June 1996 Agreement of Sale was made between Transferor - Mr Bajaj Transferees - Mr Israni And Confirming party - Developer of Pune Stating , since Mr Bajaj is unable to purchase the house Mr Israni has agreed to purchase for 13.5L and Developer has given consent Also mention has been made on the earlier agreement and that Mr Bajaj was able to pay only 4.25L Mr Israni will pay balance 8.25 to Developer, and 5.25L to Mr Bajaj Agreement was made on 5000x5 and 1000x2 stamp paper and registered and signed by Bajaj, Israni and Developer Post that document was in Registrar office Recordsdept in Mumbai, and in Oct 2015, the balance stamp duty along with penalties (Around 2L) was paid and document was received Document3 On 23March 2002 Transfer deed was made between Vendor - Mr Israni Purchaser - Mr Dhameja With franking of Rs 25610/- dated 23rd March 2002 Sold for 4.5L, total payment made while document signing Document was not registered. Document4 In Nov 2015 Supplementary Agreement was made and registered in Pune The stamp duty (Around 3.5L) was paid and registration was completed. In March 2017 Seller - Mr Dhameja wants to sell the property Buyer - Mr Rao of Pune has applied for loan, and the bank has said they need Adjudicated document between Developer and Bajaj, And a local advocate in pune was consulted and said 2.5L to 3.6L stamp duty needs to be paid... Need advice whether this adjucation is needed and required to be done? Is the property clear and marketable? Stamp duty was paid in the document2 so why it needs to be paid for document1 ? Anyway by which Mr Dhameja can save not paying stamp duty for document of 1994 Why adjudication and what is the process of Adjudication and how much time does it take?
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1) it appears that agreement between builder and mr Baka appears to be under stamped
2) hence adjudication is necessary to determine proper stamp duty payable
3) seller title is not clear and marketable
4) agreement between builder and first purchased has to be properly stamped to be admissible in evidence
5) application has to be made to collector for adjudication and it should not take more than 3 months
Isn't the first document part of the second document ( as the second document, developer was party to the agreement of sale, he was present during registration, has signed, confirmed, n received funds as per refrences given of dates and amounts of the first document) Isnt the document 1 and 2 - part of one whole do ument Agreement of Sale was registered and all stamp duty and penalties were paid, then why again stamp duty?
1) there is no harm in submitting sale deed executed between builder and original purchaser for adjudication to determine correct stamp duty payable
2) second document is between builder seller and purchaser
3) they are separate documents
The original sale deed in favor of Bajaj was not executed by the developer in the year 1994, moreover the sale agreement was an unregistered document, hence Bajaj has no marketable title to sell the property to Israni.
If the second document was a tripartite agreement, though it has been registered by paying the stamp duty, it was not a proper sale deed in the name of Israni, therefore it can be deemed that Israni is not having a title deed to the property in his name hence he may be considered to not to have marketable title.
The third document is not a registered document hence the impact of a proper title deed in favor of Israni was not felt as adverse to his purchase by the buyer Dhameja.
It can be deemed that the sale deed in favor of Dhameja also invalid in the eyes of law because it is not by a registered sale deed.
The fourth document was registered but without the vendor having a proper marketable title this registered document cannot be considered as a legally valid sale deed document.
The purchaser Rao's application for loan may be rejected by bankers for want of proper title and link documents confirming title way down.
Though there seems no irregularity or fraud in the transactions, the technical defects may need to be rectified.
If Bajaj is available, he can be asked to seek for adjudication before the concerned registrar's office after which the subsequent transactions can be ratified.
Isn't the first document part of the second document ( as the second document, developer was party to the agreement of sale, he was present during registration, has signed, confirmed, n received funds as per refrences given of dates and amounts of the first document)
Isnt the document 1 and 2 - part of one whole do ument
The first and second document are different to each other, it cannot be a link document to the second document.
Agreement to sale document is different to that of the sale deed document, the balance of stamp duty if any has to be paid towards the registration of sale deed.