• Transfer of stilt parking from one owner to another

Please let me know the documents required for purchase and transfer of stilt parking in an apartment building in Mumbai. The owner has purchased a stilt parking from the builder and a separate agreement for the same is there. This was bought in the year 2006. The owner has sold the stilt parking to me and would like to know the following: 
1. What documents would be required, apart from the sale agreement?
2. Do I have to pay stamp duty on the same? if yes, what should be the value?
Regards
Asked 1 year ago in Property Law from Mumbai, Maharashtra
Religion: Hindu

Documents required are Sale Deed, Memorandum of Understanding between you and previous owner of stilt parking, Transfer Affidavit, Power of Attorney (irrevocable POA), NOC from Society.

For such parking purchase better to register before Registrar by paying required stamp duty.

Take a receipt from previous owner of paid charges to builder of stilt parking

Sheetal Pawar
Advocate, Mumbai
21 Answers
1 Consultation

4.0 on 5.0

Obtain NOC from society for transfer of stilt car parking slot

2) you have to pay stamp duty on sale agreement entered into for purchase of parking slot

3) stamp duty would depend upon consideration paid by you for purchase of slot

Ajay Sethi
Advocate, Mumbai
69022 Answers
4153 Consultations

5.0 on 5.0

1. Noc from the society is required, further a sale deed can be made and it should be registered.

2. Stamp duty shall be paid on consideration amount under the sale deed, value of stamp duty shall calculate at rate 5 percent of total sale value. Further confirm the stamp duty while registering the deed at registrar office.

Shubham Jhajharia
Advocate, Ahmedabad
20887 Answers
81 Consultations

5.0 on 5.0

1. There is no special document required to buy stilt parking.

2. However check whether there is any Society rules which prohibit outsiders to won only the stilt parking without owning a flat in the society.

3. An unregistered sale agreement does not give title to the seller so he can sell the stilt parking to you.

4. So ask for a registered deed of conveyance showing his ownership over the property.

Do get the property papers checked by a local advocate.

Devajyoti Barman
Advocate, Kolkata
18123 Answers
260 Consultations

5.0 on 5.0

1. Car park can be sold under one single agreement itself. That is under the flat sale agreement

2. Separate agreement is not needed

3. Stamp duty will be calculated by taking 25% of circle rate under ready reckoner multiplied by area of car park. The registration agent can tell you exact figure

Yusuf Rampurawala
Advocate, Mumbai
4663 Answers
28 Consultations

5.0 on 5.0

Dear Client,

It has be through registered sale deed, parking with specific area and location in the building should mention in the sale deed. All the original papers from the origin of property shall be deliver to new purchaser. Original regsiterd agreement through which seller purchased the parking from builder.

Stamp duty is payable. 2 lacs minimum.

Yogendra Singh Rajawat
Advocate, Jaipur
14592 Answers
19 Consultations

4.6 on 5.0

1. Sale of parking space is illegal. In 2013, the Bombay High Court ruled that approved parking spaces within a building were common areas for society members and could not be sold. Developers circumvent the restriction by collecting payment for car-parking spaces in cash.

However, Under the new rules, approved parking spaces, both covered and open, can be sold. In a bid to regulate it, the government has mandated that developers must formally disclose details of this sale. The government has also permitted builders to demarcate such parking spaces sold. Prevailing rules grant the cooperative housing society the powers to distribute parking space among members.

If the vendor has a legal document to prove that he owns the car parking space, you may obtain that and get a registered sale deed executed on that basis in this regard.

2.If this purchase is to be effected through a registered document then necessary stamp duty has to be paid accordingly.

T Kalaiselvan
Advocate, Vellore
58863 Answers
745 Consultations

5.0 on 5.0

You'll have to obtain No Objections Certificate from the society and deed of conveyance in your favour. Also, registration of the deed of Conveyance is mandatory.

You'll have to pay stamp duty on the said purchase as per the circle rate and it should be always conciled with the registrar office.

Siddharth Jain
Advocate, New Delhi
4978 Answers
55 Consultations

5.0 on 5.0

This is my response to you:

1. You will need to execute a transfer deed on stamp paper and notarize the same;

2. No you don'y have to pay stamp duty on that since it is part of the common area of the building;

3. Just make sure the society gives an NOC for the sale of the parking space.

Gowaal Padavi
Advocate, Mumbai
1844 Answers
2 Consultations

5.0 on 5.0

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