Lease cum sale and registration fee
i purchased a 30x45 site from a housing society on lease com sale basis in 1977 by paying Rs 4864 only.LCS deed and conditional sale deed were excecuted and registered.Ibuilt a house in 1983 fulfilling all the conditions and living there for the past 30 yrs.However i failed to get the absolute sale deed after 10 yrs.I got the same from the society in 2014.when i went for registration sub reg asked me that i should pay the reg fee at the current market price of my site which comes to Rs 49 lakhs.the reg fee is 1 % of this which comes to Rs 49000 only.I have already registersd LCS deed in 1977.Is the demand valid according to law?In addition the stamp duty will be 5% of the market value of the site in 1977.Sub reg says that the market value of my site in 1977 was Rs 150 per sq ft where as i have paid Rs 3 per sq ft to the society.As a retired person and senior citizen i am worried about this.What happens if i dont register the absolute saledeed?The property in s in my name and i am living in the house for the past 30 yrs paying the property tax.Please advice.
Asked 4 years ago in Property Law from Bangalore, Karnataka
register sale deed . it is in your interest . pay stamp duty and registration fees demanded . document which is not stamped nor registered is in admissible in evidence
Hi, in future it will become problem and it had already delayed in getting sale deed.........
If the sale deed is not registered then there would be a cloud on your title in the event of the property becoming the subject matter of a law suit.
Get the property registered asap. Only then you can be absolute owner of that property.
you should get your sale deed registered from the society. however, you have a bare chance of evading from payment of your stamp duty and registration fee provided the lease cum sale deed is perused.
Better to get your sale deed registered. Otherwise you can not sell the property.