Under the Indian Registration Act of 1908, any interest transfer agreement must be registered on property worth more than 100 rupees. Therefore, if you purchased a property for sale as part of an agreement without a good state of sale, you will not receive any right or interest in the property that would be transferred under the sale contract. On 31 October 2020, a 40-year-old man was arrested by Noida police for deceiving a bank of 2 Crores by forging debt and using loans. On the same day, the judge of the main meetings of Madurai, G Ilangovan, granted two sub-registries arrested by the Sanddigul Criminal Police Office, an early bail, on charges of recording documents without prior verification. According to the police, they registered the deed of sale without checking the certificate of charge, as well as the original documents, parental documents, death certificate, etc. The Indian Registration Act provides for the registration of documents and thus records the contents of the document. Registration is necessary to preserve evidence and titles. There are certain agreements mentioned in Section 17 of the Indian Registration Act, which must be forcibly registered and therefore cannot be made without stamp paper. Some of them are, This absolute rule is subject to the exception of Section 53A of the Law on the Transfer of Ownership. Section 53A provides that the seller has no right to disturb the purchaser`s possession if the purchaser has entered into possession of the property that is the subject of the transfer, while fully acquiring its portion of the contractual obligation. It should be noted that Section 53A provides the proposed purchaser with a shield against the seller and prevents the seller from disrupting the purchaser`s property, but it does not cured the buyer`s property. The property`s ownership remains in the hands of the seller. Stamp duty for the purchase of housing: Buyers who invest in housing must pay stamp duty on the basis of their individual share.
This means that if the project is set up on a land of 50,000 square meters and they have a unit of 5,000 sq. All they have to do is make payments for the land they use. The only discrepancy in an unmarked agreement is to produce an unmarked agreement in court. Section 35 of the Stamp Act de qualifies a document that does not have the necessary stamp duty in court as inadmissible. However, there are exceptions to this provision and do not completely negate the right of the parties to apply such an unstamped agreement. Under this section, an unstamped agreement may be authorized in court by paying the deficit stamp duty at the same time as a penalty, i.e. an amount varying from state to state. In the event of a deficit and penalty, the agreement is deemed to be fully stamped.