Hi Sir/Madam, I recently purchased a plot from one of the developers in Hyderabad before getting the LP number from HMDA. Recently, developer received the LP number from HMDA and my plot went under Mortgage plots.Developer is asking me to pay 80% of the amount , he is asking me to right an agreement saying "we paid 22 Lacs against a plot cost of 28 Lacs and rest of the amount will be paid once those plots are released from Mortgage (or)during registration".Is it legal to right such agreement on 100Rs stamp paper and in case if the developer haven't register that plot on my name after it got released from mortgage,can I take this stamp paper as a proof and fight in court ? Need your suggestion/advise at the earliest,I read some where that those stamp papers are not valid/legal if they are not registered in sub register office. Is it true ?How can I deal with this ? Thanks, Deep
See unregistered agreement to sale is can be considered as evidence to transaction and unregistered agreement to sell as it could be lie in a suit for specific performance and admissible in evidence regarding with proviso of Section 49 of the Registration Act. The unregistered agreement to sell can form the basis of suit of specific performance and be led into evidence as proof of the agreement or part performance of a contract.
So a suit can be filed by.you.
1. A property can not be sold with clear title if the same is mortgaged without the consent of the mortgagee.
2. So unless the mortgage is redeemed do not go for this property.
3. in any case if the seller does not refund you the money in the event of cancellation or does not register the sale deed then you can file a suit for specific performance of contract.
The agreement is valid in 100 Rs stamp paper and even if not made on stamp paper it is valid. In fact even a oral agreement to sell is enforceable in law.
You need to get a letter from the seller’s mortgage bank. This letter should say that the bank will release the original property papers after you make the full and final settlement for the seller’s outstanding loan. You can give the rest of the money to the seller when the papers are released. Note that banks will specify a time within which you need to make the full and final settlement.
Agreement for sale executed on stamp paper is valid . Non registration dues not effect validity of agreement for sale
2) if Builder r refuses to execute sale deed then you can file complaint against builder before consumer forum and seek orders to direct builder to execute sale deed deliver possession of plot to you
3) if project is registered under RERA you can file complaint against builder before RERA
Hello,
Any document which includes some monetary transaction be registered before the registrar, failing which the same can not be enforced by you and the builder might take this defense in the court of an unregistered document.
Regards
1) You have to make "Agreement to Sale" deed and get registered this deed with registrar or sub registrar along with the points of both of you i.e. buyer and seller it will be called as MOU in this you can write whatsoever developer is saying.
Invalid and not enforceable in court. Get it execute on at least 500rs. Stamp and get it notorised at least .
Unregistered sale agreement is not enforceable in court of law.
You may decide about the issue judiciously because you are the better judge of the situation.
It is valid but the stamp paper value should be appropriate as per the value of the plot. You can pay the undervalued stamp paper later if found that the said stamp paper was undervalued
