Stamp paper charges date of agreement to sale is 20 years old
I(buyer) have entered in sale agreement for property in karnataka in the year 1991 by paying an advance (4 lakhs). there was a clause of specific performance, in case the seller did not perform he would have to make the sale deed by taking an additional amount of rs 2 lakh. subsequently the seller did not perform his part, we then went to court and we got an order from high court in our favour and remitted the balance 2 lakh and interest(as ordered by court) of app 3 lakh.(total original sum is 4 lakh plus 2 lakh = 6 lakh). the seller also appealed in supreme court but lost.
we have filed execution, now the question is, the current circle value is about 50 lakh. we will be registring the sale deed now so do we have to pay the stamp paper as per 6 lakhs, or 9 lakhs, or as per 50 lakh(current circle), or as per the circle rate in 1991? of course
Asked 8 years ago in Property Law
Religion: Hindu
the property in question is a slum consisting of about 90 to 100 slum houses(which was present prior to 1991 also. the site is also a revenue site and even after registration at circle rate we may not get possession for some period of time, so market or circle value is anyways not going to be the right value.
so options are
1) to do pending registration?, then get Deputy commissioner valuation done?
2) but isnt the buyer being forced to pay a higher stamp paper? what if he does not have that kind of money? it means he is being forced to sell the property to other person, isnt it? there should be some citations(all payments made by cheque) in this regard as this is a common problem in real estate industry where the seller backs off (even after getting full payment)on the deal and the purchaser is forced to go to court and win the battle after prolonged years and then lose again mentally and financially. just imagine a home buyer buys a house for own purpose and then hes forced to shell out an amount appx equal to the value of the home in terms of stamp paper.
Asked 8 years ago