Stamp Duty Penalty
Almost 7 years back I have made an agreement with Rs. 200/- valued stamp paper (value of the property almost 80 lakh) to purchase agricultural land in Udupi district (Karnataka), Prior to expiry of the agreement seller notified me that she is not interested to sell her property to me and as per the agreement as penalty she will return 2 lakh along with 1 lakh paid with agreement (1 lakh agreement payment + 1 lakh as penalty for the party) accordingly I went to the court asking the court to register the property to my name.
Now the Judge is asking to pay the registration fees (I believe it is almost 10@ of value of the agreement) + penalty which is as per DRO arrives very huge figures.
Note : In the agreement there are some week clause such as:
1. "either party can revoke the agreement by payment of 1 lakh to the other party as penalty.
2. In their claim they have intimated to the court that they have given the possession of the property to me, in fact not received by my.
3. In agreement they have agreed to allow us for landscape and develop the land in reality we did not do it.
in this regard I need your advise :
1. Do I have to pay registration fees plus penalties, if yes how much approx. will be the amount..
2. In case if I pay all the amount, is it guaranteed that property will be registered in my name.