Right to do Registry Individually after division of plots.
We are siblings (6 brothers and 2 sisters) having ancestral land.The land has 4 khasras, in which 2 khasras are in name of 2 brothers only, 1 khasra in name of 1 brother and 1 khasra in name of all brother and sisters.
We all planned a township on around 26 acres and have done a ratio deal (35% - 65%) agreement with a developer outside family. 35% of developer and 65% of land owners. The terms were that he will develop and the land owners shall provide plots in exchange of his service.
The developer has done an agreement with the land owners in the year 2011 on which he has calculated cost of complete project and of which he did 35% amount as per his share for which he paid the 5% stamp duty to the government, which comes to around 45 Lacs approx.
That agreement carries the terms of development and plots nos. which shall be divided among developer and plot owners, thus providing the developer the right to do the registry individually without any signature required from land owner side. This agreement has been signed by every brother and sister and the developers.
Further, the agreement also has details of plots divided among the land owners (brothers/siblings) providing them the right to registry on individual basis, without depending on other siblings or developers signature for the registry.
The doubt which I am having presently is that whether the siblings also have got the right to do registry individually on the basis of that agreement in the eyes of government.
The developer has told that the agreement has been signed by all land owners, and as plots are transferred within family, so it is legal transfer of title.
Also, lots of developer's registries have been done on which the authorized signatory has signed individually and our present lawyers always say that we (individual brothers and sisters) also can do individual registries.
As none of the brother/sister have yet done any registry till date, and neither the developer or existing lawyer has told us that we shall face any problem, but neither the developer nor the lawyer has given clear answer on this matter. The developer says you do one registry and you will see yourself, and our existing lawyer says that i am there dont worry.
But on a third view on this case I seek your consultancy that whether that agreement suffice the transfer of title to individual plot owners also or not
In case of any further information sought, please let me know.
Asked in Property Law from Indore, Madhya Pradesh
It is necessary to peruse the agreement signed by you with the builder to advise
2) if the agreement signed by all the siblings provide for division of land among the siblings they can do individual registration of their share of land
3) you can submit the said document for adjudication before the collector for determination of proper stamp duty payable
The agreement made among all of you if it is a registered document then th clauses and conditions agreed upon by all is legally valid.
You can proceed with individual registrations accordingly as and when the need arises.