In order to avoid future legal disputes and also to guarantee the rights of both persons, you can conclude a purchase contract in the absence of a witness and without a stamp [ muaabd-a-vay ] provided that the final sale is made against payment of the entire consideration. You can also refer to our blog “Apartments in Kolkata: A Buying Guide for Luxury, Premium and Affordable Apartments in Kolkata” and “Buying an Apartment in Kolkata: Difference Between A-Katha vs B-Katha” 15. If, before the completion of the transfer of the immovable, the immovable, including the apartment, is notified by the Government under the Land Acquisition Act or any other law currently applicable for the acquisition or requirement, the buyer is not entitled to terminate this contract and, in the case of the acquisition of the immovable, including the said apartment, the buyer is entitled to a proportionate portion of the compensation, if and when it is awarded by the government or any other authority. If the apartment is requisitioned by the government or another authority, the buyer is entitled to the compensation granted by the confiscating authority for the apartment. You can register the deed of sale at the Sub-Registrar`s Office in the area where you want to buy the property. A deed of sale is signed by the first buyer and the builder during the purchase period from a private real estate company in Kolkata. Done in the original, the deed of sale claims ownership of the title deed of the property. You may want to start with this document. In addition, calcutta real estate developers said the move helped them register sales contracts for stores concluded before the lockdown. You can also collect payments from customers through the online platform. Online access proved useful for Calcutta real estate companies that had completed the projects but could not hand over the property to buyers despite the certificate of completion.
Note that an allocation letter is not the same as a purchase contract. A purchase contract is documented on stamp paper, while a letter of award is issued on a letterhead of the authority. 1. Please note that the mere signing of the deed of transfer does not transfer ownership of the apartment to the buyer, the registration of said deed of transfer, c. The seller pays all expenses, including the rent of the land, taxes, assessments, levies, duties, conditions and expenses up to the date of the transfer of ownership to the apartment owners and the complete transfer of the building. Once you have executed the registered deed of sale in its favor, you have no right to own the property, instead, the clause should be that if the check for final payment or a payment is refunded by the bank without payment, the deed of sale may be arbitrarily canceled by the seller for said reason. This would allow you to secure the transaction as well as the amount of the sale consideration you need to pay from the buyer. b. The Seller maintains a separate account with respect to the amounts received by the Seller from the Buyers of the Apartments as an advance or deposit received due to legal fees and the execution of other documents to be completed, and uses the amounts only for the purposes for which they were received and after the transfer of said ownership. the remaining amounts must be paid and transferred by the sellers to the flat-rate buyers. 2) You can deliver the vacant property against full payment and execution of the deed of sale.
3) You must not execute the deed of sale if the buyer will make a final payment 30 days after the execution of the deed of transfer 1) It is always better to insist on full payment at the time of execution of the deed of sale by draft claim A purchase contract is required for the purchase of a mortgage. It must be made in the original for the purchase of real estate. This is one of the preliminary documents that you must present before selling a home. This is quite common. If the last cheque bounces, you have the right to file a criminal complaint for the bounce of the cheque, with the exception of a recovery procedure with compensation against it. In order to be more secure, a clause can also be added to the agreement that provides that the transport will take place after the last cheque has been cashed. Alternatively, the final payment should be made through a draft requirement. A transfer certificate can be obtained online from the official website of Land and Land Reforms and the Department of Refugee Aid and Rehabilitation of West Bengal. After that, you need to fill out the property transfer request form.
You will need to –Upload the important documents as indicated in the form and,-Pay a feeIn case of a change of ownership, you will most likely need to present the deed of sale, the certificate of registration, a document proving the payment of taxes, as well as the applicant`s Aadhar card. Once this is done, you will receive a registration number related to your application. You can check the status of your application online. Once it is approved, you can download and print the transfer certificate. You can ask the buyer to make the payment by NEFT or RTGS transfer, and this can be done on the day of registration itself, the reference number of the transaction can be indicated in the deed of purchase, which is sufficient proof that the payment has been made and correctly confirmed by you through your bank account. You can execute the deed of sale in several times the amount of the sale, but it is not mandatory. If you sign a deed of sale and it does not pay the balance within the specified period, you must take legal action for the cancellation of the deed of sale, so it is better to receive the full amount no later than the execution of the deed of sale. The agreement will highlight the Kolkata real estate company, the sellers, the money and obligations related to the sale, such as the site plan, the layout of the apartment and the parking lot, as well as other facilities. You shouldn`t worry about the buyer`s worries. You should deal with your own problem of receiving the full amount before performing the act of transfer.
Please note that the deed of transfer is nothing more than the execution of the registered deed of sale and the transfer of physical property is another issue. A purchase agreement contains all the details about the property, including the date of ownership, payment plan, details of common areas, facilities and terms and conditions. Remember to keep this document handy during your trip to buy a house in real estate in India. Stamp duty is a percentage of the transaction value levied by the state government on each recorded sale. 8. The buyer must pay an amount of Rs. .. in terms of legal costs, costs of creating the association and executing these donations and other documents that must be executed.
The buyer is also required to bear the cost of stamp duty and registration fees in relation to the housing certificate. .