Dear Sir,
My answers are as follows:
Q1) Now can i execute a sale deed with my wife and some other third parties?
Ans: First get sale deed in your favor, possible and change the katha in your favor then you can legally execute sale deeds in favor of third parties.
Q2) Will there be any title issues in future for the buyers who purchased from me?
Ans: GPA sales are banned from the year 2011 the SC judgment is given below with exceptions
Q3) Is this process legally valid?
Ans: Subject to change of katha in your favor.
Q4) Also it is known that Stamp duty paid in AGPA deed can be adjusted proportionately in the subsequent sale deed. Shall I get it adjusted or not for not to be in any trouble in future for the reason of inadequate stamp duty?
Ans: Only if the sale deed is executed in your favor.
Q5) One of my vendors mother was expired who has 2 major sons in which elder son has got title rights through virasath proceeding(1B pahani) from Tahsildar(MRO) by producing an affidavit of no objection & no claims on property executed by both the dependents. Now only the Elder son who got inherited rights has signed the sale agreement cum gpa. Will I get Perfect Title Search Report from Legal Adviser for loan on property for me or my subsequent buyers? What can be done now to avoid any troubles from second son in future?
Ans: If you are not a builder then you have no right to get valid GPA and in turn you can sell the sites to third parties. Be careful and discuss everything in person with your known lawyer. The vendors mostly the villagers make you confuse and land you into trouble.
Q6) Also suggest, what all remedial measures if necessary can be taken now to protect my buyers & my rights on property?
Ans: Without property transferred in your name it is not advisable to sell the properties.
Sir, agreement is already done. 1) Now can I execute a sale deed with the buyers from me or not? 2) Relinquishment deed from Second son be obtained now seperately or old agreement is to be rectified? 3) How can i convert the existing agreement of sale cum gpa to sale deed now?
Ans: Please read the following. Better you go for sale from your vendors instead of sale cum gpa.
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No property sale on power of attorney: Supreme Court
Property sales through the common practice of general power of attorney (GPA) will not give ownership title to the buyer.
In a landmark judgment that is expected to send a large number of property owners into a tizzy, the Supreme Court held that the GPA method of immovableproperty sales is not a valid form of transfer of property.
A three-judge bench presided over by Justice R. V. Raveendran said that property can be lawfully transferred only through registered sale deeds.
"A power of attorney is not an instrument of transfer in regard to any right, title or interest in an immovable property," the bench said, after interpreting various provisions of the law concerning property sales. However, the bench said the judgment will not affect "genuine transactions" under the GPA.
The judgment delivered on Wednesday would have an impact on both freehold and leasehold properties and affect the mode of transfer of property in Delhi and the National Capital Region (NCR) where GPA sales are very common. Even though it can cause some hardship to those who have already purchased property through the GPA, the order will help curb evasion of duties, flow of black money into real estate and also save people from being cheated by unscrupulous owners selling the same property to several people.