1 If you have sold the proeprty then it is your duty to make a registered sale deed.

2.if not then they can file a suit against you which would be damaging for you.

3.hence it is advisable that register the deed now when tthey have approached you for the same.

You cannot sell the plot to third parties if payment was made by the original purchasers

2) if you wanted to sell these plots earlier agreement with original purchases ought to have been cancelled with mutual consent

3) if original purchaser did not make payment then you could have cancelled the sale of plot to original purchaser

4)you cannot register plot in name of original purchasers now if you have sold it to third party

5) amicable settlement is best option

You can offer the original purchaser alternative plots

2) as far as income tax is concerned consult local CA

We made a layout in 1995 with emi scheme till 2001, some many have got registered but some of them about 8 members didn't got registered by their negligence. We waited till 2012 and sold those plots to other party. Now in 2016 they came for registration. What to do now. Is their any time period to get registration?

If the plots booked by them are available then you may allot them the plots by receiving the balance of sale consideration amount.

If the plots have been sold out then you may refund their money without interest but you may deduct some percentage owing to administrative expenses.

If the buyers insist on plots only, you may politely turn them down and may ask them to approach court for releif becasue their claim is barred by limitation at this stage.

We have to pay income tax as per present document value which comes to 3 times of the plot value that we sold

Why do you have to pay income tax if you cannot sell the property to them, however even if the prices have shot up, you need to pay income tax only to the extent of income you received, hence dont worry about it.

We have few plots nearby that layout. If we do registration can we claim the tax value Because of buyers negligence we have to pay the tax which is very much higher than the plot value that we sold.

What tax are yo taking about?

You have to pay the income tax as per the income shown in your return and not as per the guidelines value of the property.

The stamp duty alone shall be payable at the government ready reckon-er rate or guidelines value.

The stamp duty shall be paid by the buyer and not you hence what is query about this?