Legal Question in Real Estate Law in India

I am seeking a house in a Meerut. When i inquired i came to know that the builder allotted the house to first party in 2008 (for 18 lakhs) and the first party has not registered the house in his name. Now the first party will appoint me as their nominee through Tripartite agreement and request to builder to do the registry in my name. I have to pay the transfer charges. Builder will do registry in my name and the value of property will remain 18 lakhs whereas according to the present circle rate i have to pay stamp duty on 28 lakhs. Now my question is, is this the right procedure and what precautions should i take.
Thanks

Asked on 3/09/14, 4:08 am

2 Answers from Attorneys

Fca Prashant Chavan Expert Edge LLP

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09.03.2014

Dear Sir / Madam,

A nominee is usually a family member (blood relative) like grandfather, grandmother, father, mother, brother and sister. In common parlance, a person in no way related to the Owner is not nominated as the Owner. I advise and recommend that you should enter into an Agreement for Sale with the first party and pay the prevailing Stamp Duty and register the Agreement for Sale with the Tehsildar / District Registrar to avoid any complications.

Regards,

Answered on 3/09/14, 9:38 am

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