Registration of cancellation deed of flat, mumbai

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

Depends upon reason of cancellation.

Non payment of consideration amount

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

Is it Sale Deed or Sale Agreement?

Instrument of Transfer is executed.

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.

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 ?

"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.  
 

"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!!

Dhirajlal

If, Both the original executant mutually consent to execute the Deed of Cancellation ? What is the legality of this transaction & regstration rqeuirement ? In fact they have already executed the Deed of Cancellation with mutual consent but wants to know further procedure. Please advise.Thanks

Well, such trend is not uncommon, having strong reason of non-payment, and having time barred clause incorporated in original agreement.

Both being relatives, executing indemnity bond by purchaser alongwith notorized cancellation deed would safeguard the interest of seller.

Get title certificate from an advocate, based on search and paper notice.

Thanks for the advise.