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“Usually, the penalty levied is 100-300% of the registration amount, but it can go up to the maximum amount too,” adds Sampat. So, for a house of Rs 10 lakh, the penalty could be an additional Rs 10,000-30,000, while the maximum limit would be Rs 1 lakh.
- What if property is not registered?
- What is penalty for late payment of stamp duty?
- How do I register an old unregistered property?
- Can I sell my flat without registration?
What if property is not registered?
If a property is unregistered it can be hard to find the legal owners as there is no central record of ownership to search. ... If a property is not registered at the Land Registry when a sale is completed, the law requires that it must be registered on completion of the sale of the property by the purchaser.
What is penalty for late payment of stamp duty?
Late payment
| Penalty date | Penalty due |
|---|---|
| 31 days after the due date for payment | 5% of the unpaid tax |
| 5 months after the penalty date (5 months and 31 days after the due date for payment) | A further 5% of the unpaid tax |
How do I register an old unregistered property?
To register the property the seller of your father has to execute the sale deed in your favour. Issue a lawyer's notice to him to register the sale deed. If he does not meet your demand then file a lawsuit against him to seek court's directions to him to register the sale deed.
Can I sell my flat without registration?
You need to register your property as soon as you have paid the full amount for your property and other charges to the builder. ... Without registration, a buyer has no legal right over the property so, one cannot sell it to anyone under the Transfer of Property Rights Act.
