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Can a home owner sell a property that is not registered?

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Can a home owner sell a property that is not registered?

Last updated: January 5 2019
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  • Can a home owner sell a property that is not registered?

    I have a difficult situation, but I would like the groups opinion

    I have made installments to a builder for a project that was started at 2011 and made 90% payments + the service tax and GST.

    I now have a buyer lined up as the project took too long and am relocating and thus want to sell.

    I have not taken possession or registration

    I have an agent and we have an agreement for a price which leaves me making nothing on it, however when the CA came to do the low tax deduction certificate the issue of double stamp duty came up.

    In order to sell the flat I have to register first in my name and then simultaneously sell it to the new buyer.

    This according to the CA triggers to lots of Stamp duty.

    1) Me to the builder

    2) The buyer to me, which unfortunetly the way my agent has done it has given the buyer and all inclusive deal which means that I have to pay for this stamp duty, and thus I pay twice!!!

    This cannot be right.

    I have asked the builder to cancel my registration, and put the new buyers name thus negating this, but they say its too much paper work, as Service tax and TDS payments under my name have already been deducted.



    Can anyone give any advice?

    Many thanks


    Last edited January 5 2019, 10:43 AM.
  • #2

    #2

    Re : Can a home owner sell a property that is not registered?

    Originally posted by mda99das View Post
    I have a difficult situation, but I would like the groups opinion

    I have made installments to a builder for a project that was started at 2011 and made 90% payments + the service tax and GST.

    I now have a buyer lined up as the project took too long and am relocating and thus want to sell.

    I have not taken possession or registration

    I have an agent and we have an agreement for a price which leaves me making nothing on it, however when the CA came to do the low tax deduction certificate the issue of double stamp duty came up.

    In order to sell the flat I have to register first in my name and then simultaneously sell it to the new buyer.

    This according to the CA triggers to lots of Stamp duty.

    1) Me to the builder

    2) The buyer to me, which unfortunetly the way my agent has done it has given the buyer and all inclusive deal which means that I have to pay for this stamp duty, and thus I pay twice!!!

    This cannot be right.

    I have asked the builder to cancel my registration, and put the new buyers name thus negating this, but they say its too much paper work, as Service tax and TDS payments under my name have already been deducted.



    Can anyone give any advice?

    Many thanks


    If u haven't registered yet, means about to register, u can claim stamp duty refund if resold within a year...

    Comment


    • mda99das
      mda99das commented
      Editing a comment
      thanks, just spoke to another agent and he told me that if done within a year no second stamp duty
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