1. Without registration of the flat your father has not become the owner thereof.

2. If the builder agrees to come forward for the registration then the process of registration can see the light of the day without any hassles.

3. If the builder does not register the property then you may file a lawsuit against him to seek court's directions to him to register the conveyance deed.

4. The registration charges of the present day will be applicable.

5. After the registration is done in your father's favour and he makes a gift deed then you will be able to sell the property. Alternatively, the builder may also register in your favour.

1) registration has to be done maximum within period of 8 months from date of execution of agreement

2) after 21 years document will not be admitted for registration .

3) for gift between family members in Mumbai nominal stamp duty is leviable of around Rs 500

4) you would be at liberty to sell flat later .

5) better enter into sale deed as you are as it is paying consideration for purchase of flat . it is not a gift deed if consideration of Rs 40 lakhs is paid to father

6) title to flat is not clear and marketable

Hi, your father can gift the property even now also for gift deed registration nominal stamp duty will be payable and market value of the property will not be considered in case of gift deed.

2. So you can register the property by way of gift from your father and thereafter you can sell the same to the third parties.

Hello,

1) If the required documents are not duly registered, then Section 49 of the Indian Registration Act, 1908 states that the documents will not have any bearing on the property, and that they do not confer any transaction rights over the property. In other words, the law does not recognize unregistered owner and does not give him any rights over the property.

2) When proper stamp duty is not paid on the instrument at that time certain penalty is imposed by the collector. This penalty may be of the payment of the insufficient stamp duty and fine of Rs. 500 or he may take the fine up to 10 time of the insufficient stamp duty.Therefore the possibility of registering the document depends on penalty adjudicated by the collector.

3) You will have to pay stamp duty as per the current market value of the property.

4) Once the deed is registered after payment of the requisite stamp duty you are at liberty to sell the property as you will be the absolute owner.

5) You can not mention the 40 lac rupees in the Gift Deed as the nature of gift is essentially transfer without any consideration whatsoever.

6) There will be no legality to such document for the reasons mentioned in the first few paragraphs of this answer.

You can register the flat now. The tamp duty will be based on current circle rate of th flat,

2. There will be no penalty for late registration,

3. .Registration fees diffr from state to state. You can enquire the prevailing rate from the local Registration office,

4. Once the deed is registered, you can sll the flat and in that case tye buyer shall have to pay registration cost again,

5. If you mention about te said Rs.40 akhs, then it will no more be a Gift Deed but a sale deed and in that case the stamp duty to be charged will be more. You can xecute a counter gift deed duly gifting Rs.0 Lakhs to you father,

6. Registration is possible. So, the property is very much legal.