• Purchase of property

I am planning to purchase a residential property of 50 lakhs rs. in Ernakulam, Kochi, Kerala.

1) Can I get a template of SALE CONTRACT AGREEEMENT stating the following?
 - Advance of 20 Lakhs
 - Within 6 Month Period remaining 30 Lakhs will be paid
 
2) What is the stamp paper amount required for this?

3) Should I register this agreement? 
 If registration needed, What is the cost?
 If registration needed, Can I deduct the cost in final registration?
Asked 7 years ago in Property Law
Religion: Christian

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5 Answers

1. For template you will have to take professional help of a lawyer. In any event the template may not suit as it requires customised agreement for each purchase.

2. Sale agreement is compulsorily registrable document and hence stamp paper varies with the sale amount.

3.Yes. Cost varies with each state.

Devajyoti Barman
Advocate, Kolkata
22774 Answers
484 Consultations

5.0 on 5.0

1)it is advisable to get the agreement for sale drafted by lawyer

2) the agreement for sale must contain clause that in the event purchaser fails to make payment within 6 months agrement shall stand cancelled

3) also clause should be incorporated that advance payment made would be forfeited in the vent purchaser fails to make payment of balance amount

4) stamp duty is state subject and varies from state to state

5) you can regsiter the agreement for sale

6) registration charges vary from state to state

Ajay Sethi
Advocate, Mumbai
94512 Answers
7484 Consultations

5.0 on 5.0

Hi, There is no need for registration of the sale agreement, if the possession is not delivered to you.

2. For drafting the agreement better you can contact local advocate, who will help you in the matter.

Pradeep Bharathipura
Advocate, Bangalore
5604 Answers
335 Consultations

4.5 on 5.0

The template of sale agreement and the charges for registration of sale agreement, including stamp duty and preparation charges ca n be had from a local document writer who would facilitate even registration of the sale agreement.

The stamp duty, registration charges and local language in the sale agreement is the local subject

However please note that it is always better to have the deed of sale agreement registered before the sub-registrar's office within the territorial jurisdiction.

The stamp duty of final registration shall be on the balance of sale consideration amount to be paid.

T Kalaiselvan
Advocate, Vellore
84709 Answers
2172 Consultations

5.0 on 5.0

1. Sale agreements are issue specific and it will not be prudent to use a template for self drafting the agreement. An Advocate may be approached to draft the said agreement. However, such drafts can be availed from www.indiakanoon.com and/or other portals dealing with legal matters.

2. The stamp duty and registration fee is State specific. Ascertain from the office of the local Registrar the amount of stamp duty and registration fee to be paid for registering the said property.

3.Sale Agreement is not mandatory to be registered and you can get the same notarised. However, you shall have to get the sale deed registered after taking physical possession of the said property.

Krishna Kishore Ganguly
Advocate, Kolkata
27191 Answers
726 Consultations

5.0 on 5.0

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