1) deed of partition can be entered into for division of property by metes and bounds
2) stamp duty is state subject and varies from state to state
3) it should not take more than a month for entire process
Partition of common property
We, three friends jointly purchased a plot in Gurgaon. Thereafter, constructed a 3 storey house on that & obtained occupation certificate & every member is occupying one floor as per mutual settlement. Now, we want to have a legal partition with mutual consent to avoid any dispute among successors. please let me know about the following: 1) what will be the procedure? 2) How much stamp duty & registration charges will be applicable, considering current Circle rate value of the Property around 3 Crores.? 3) How much time it will require to conclude the partition? Thanks in Advance.
Asked 6 years ago in Property Law
Religion: Hindu
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15 Answers
NO need to execute partition deed, Stamp duty will levy, 3 to 5 %. and ownership already clear in land i.e. 1/3rd each.
Execute MOU between parties on 500rs stamp duly attested by 2 witnesses and notorise. Declaring separate portion of each owner.
Single day thing.
Hi, it is advisable to file a civil suit for partition in court ..Since you 3 are the joint owners of the property ,there is no need to pay the Stamp duty again..The court will pass a decree of partition in your favour as per your mutual agreement,and you can occupy the premises accordingly ...
Separate registration and mutation of the flat will have to be done after taking the NOC from the municipal corporation.
Please see whether registration of different floor is allowed in the area or not
Get in touch with a local advocate for the compliance work that is to be done.
Regards
Execute a registered partition deed among yourselves. Stamp duty depends upon ready reckoner rate of property. Partition deed can be executed within a month along with registration. But partition suit may take time
I dont think that there is any need for partition and you can get respective portion of the property registered in the name of the occupant yourself and things will be fine and perfect as per law.
If you want partition in the court then there will be court fee as per cost of the property, lawyers' fee and other expenses for the said litigation, which may take some time in getting over.
It is advised to make a settlement/ partition deed between yourself and others. execute sale deeds for respective portions and live without any problem.
if the registration of property e is in the name of all of you then you have to file registration a particular floor and you have to pay nominal stamp duty in this regard to recognise the floors against the actual owners and at the same time you have to update the record in the Nagar Nigam documents if it is applicable
file a suit for partition of property,
it will take around 6 months - 1 year to complete since it will be an admitted case,
if floor registration is allowed in the area, you can opt for it and get the respective property registered as an independent floor,
1. Make a mutual deed of partition wherein you will have to describe the shares each of you are amicably allocating among yourselves. The same requires to be registered as well.
2. Stamp duty differs in every state and hence you better meet the concerned office to know the figure.
3. It should not take more than 7 days to draft and register a deed of partiton though time vary with the individual advocate.
1. Register a partition deed among yourself.
2. The stamp duty and registration charges can be calculated by local advocate as the stamp duty vary from state to state.
3. It will take a day or two to draft and register the deed.
Dear Client
There are two ways for getting the partition done
One is through partition deed in which the shares are specifically mentioned for each co-owner of the property and for that you have to pay a stamp duty which may vary from 2 to 3%. This process can take maximum 1 month.
And other is through partition suit in civil court in which court will pass the decree on Joint statement by co-owners of the property in in which the shares are divided mutually through decree of court. This may take from 6 months to 1 years to get the decree.
1. The procedure is to execute a flawless partition deed, in consequence of which each shareholder can possess a specific portion of the property.
2. The stamp duty part and registration charges can be told only by a local lawyer as these are not uniform across India. Every state has its own Stamp Duty Act.
3. Engage a good lawyer. The partition deed can be drafted within 2 days and registered the third day,
The property is divided based on investment or based on a will or a mutual agreement or a partition suit has to be filed before the competent court.
stamp duty is state subject and varies from state to state.
Well it may take 2 days for mutual agreement, if partition suit filed it may take 6 months to one year.
1. You all can draw a mutually agreed partition deed on the as is where is basis leaving all the common areas with common rights to all the three owners and their legal heirs
2. You can enquire about the stamp duty and the registration charges in the local registrar's office.
3. If it is drafted by a good document writer then it may not take more than one day.
- As per the information mentioned in the present query, makes it clear that you all want to go legally and get the registration of each portion in accordance with the settlement deed.
- You can even get it done without going before the court of law.
- You all can executed a settlement/ partitioned deed and state as which portion belongs to whom.
- Once that is completed the each one can go individually to get it on his name after paying stamp duty for his own share.
- In one crore for one floor then SD would be at around 1.80K including the lawyer fees etc.
