Registration of cancellation deed of flat, mumbai



Whether Deed of Cancellation prepared to cancel the original Sale Deed executed in 1989 and registered with sub-registrar in 1995. Both the parties are relatives.

(i) can be treated as valid & legal ? 
(ii) stamp duty & registration fee payable ?  

 
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KVO Merau Kutchh

" (i) can be treated as valid & legal ? "

Depends upon reason of cancellation.

 
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Non payment of consideration amount

 
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KVO Merau Kutchh

"to cancel the original Sale Deed......"

Is it Sale Deed or Sale Agreement?

 
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Instrument of Transfer is executed.

 

 
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KVO Merau Kutchh

If it be the nature of agreement, where in clause of any complience on any of the parties remains, it would be easy to cancel the same. But if all the conditions are already fulfilled by both the parties, cancellation would be difficult to convey.

 
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Non-payment of consideration amount would not be sufficient ground for cancellation plus physical possession was not given ?

Is registartion manadatory ? or mere paper ads by both parties would be enough ?

what is the stamp duty & registration cost, if regisration is mandatory ?

 
Reply   
 
KVO Merau Kutchh

 

"Non-payment of consideration amount would not be sufficient ground for cancellation plus physical possession was not given?"

Such clauses are incorporated in Sale Agreement; not in Transfer/Sale DEED. Check for such clauses in the instrument!!

"Is registartion manadatory ? or mere paper ads by both parties would be enough?"

Without registration, a permanent defect in TITLE of the property would be created, which would be difficult to solve in future!!!

"what is the stamp duty & registration cost, if regisration is mandatory?"

First of all, the cancellation doesn't seem to be applicable. But if possible, not much as compared to the present cost of the property. May be only registration charges.

 


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"what is the stamp duty & registration cost, if regisration is mandatory?"

First of all, the cancellation doesn't seem to be applicable. But if possible, not much as compared to the present cost of the property. May be only registration charges.

On checking with the sub-registrar office stamp duty will be @ 5% on maket value minus 40% rebate for old building plus 30,000/ registration fee on cancellation deed. This amounts to the same as registering of a re-conveyance agreement. Rediculous, How can we convience the regisrar that the applicable rate of stamp duty on deed of cancellation is nominal amount and not a 5%, please advise. Any citation available ? Thanks.  
 

 
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KVO Merau Kutchh

"This amounts to the same as registering of a re-conveyance agreement. "

That itself confirms that the cancellation is not possible.........................

It is to be conveyed as fresh transfer.................... and liability of capital gains....................

CAN"T AVOID ALL THESE, unless you have proper ground of cancellation from the first transfer instrument of 1989!!

 
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