Is agreement registered .?
when was sale agreement executed .?
Issue legal notice to builder that bank has objected to agreement t on ground that it is under stamped and is not willing to disburse the loan until deficient stamp duty is paid
Sale agreement under stamped
Hi I signed sale agreement with Builder in Bangalore. In the day estamp was issued, the stamp duty also hiked to .5% (from .1%.) The new stamp duty did not reflect in estamp and hence my sale agreement is under stamp duty at .1%. The bank wants me pay the remaining .4% for estamp but Builder is tricking me to return agreement and execute new which I don't agree with Builder. How to deal with situation to make my sale agreement duty corrected to .5%, what is the procedure? Please advise..
Asked 10 months ago in Civil Law
9 Answers
Check whether there is an option of making deficit stamp duty payment. Once you make the deficit payment the irregularity would be corrected.
The deficit stamp duty can be paid now if the bank is insisting on it.
Actually it should have been objected by the registrar if the stamp duty was deficient and not the Bank manager.
Can a Builder ask a customer to return estamp paper from the agreement or to return agreement which is already submitted to bank? The agreement is made with .1% stamp duty which is deficient now. Is the agreement yet legally valid? Executed on 3rd Feb.
Asked 10 months ago
Builder ca not ask purchaser to return agreement which has already been submitted to bank
agreement is binding upon parties
The agreement is very much valid except that you are to make good the deficit stamp duty.
agreements lacking proper stamping, or those with inadequate stamping, are not inherently void or unenforceable from the beginning; instead, they are deemed inadmissible in evidence. The deficiency in stamping is considered a curable defect.
- The builder has no right to cancel the agreement without your consent , and to ask to return the stamp papers
- If there is deficient stamp duty then it is the duty of registrar for asking the same , and hence if that agreement is dully registered from the office of the registrar then you can move an application for the payment of remaining stamp papers
- If the builder creating problem, then you can issue a legal notice .
insufficient stamp duty does not make a contract null and void.
No he can’t the same is deficiency of service from bidder
Dear Client,
You can Visit the Sub-Registrar's Office where the stamp paper was issued and inquire about the procedure to rectify the stamp duty. And Check with the authorities to make sure the change in the stamp duty rate is valid. You might be able to make things right if there was a valid modification and the stamp was not updated.
