100 Rs stamp paper agreement or plot registration or any other best
2 years ago
Hi,
Two years back I have a deal with a well-known builder and paid him 10lakhs (online transfer) the deal is he (builder) has to return 20lakhs within 2 and half years, as proof (builder), submitted his two blank cheques once he returns the amount I need to return his two cheques back, but now it's been 3 years he hasn't paid. Now the builder says he is either ready to write in 100Rs stamp paper agreement or Register the plot in my name and once he is ready to return the amount with interest I need to hand over the Agreement or the plot registration the builder.
I would like to hear from the experts which option is better The (builder) is ready for anything please suggest.
Thanks in Advance
Getting agreement is of no use because it gives you only cause of action to file a civil suit which goes for years together. Better have fresh undated cheques without amount therein thus you can put cheque bounce case and easily recover.
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Pardeep Kumar Dhiman Dhiman
Responded 2 years ago
Ab aate hai dusre bindu par agar builder jis plot ko vah aap ke naam karna chahta hai to uske dwara apne naam registered documents kara lo.
Ye sab se achha vikalp hai.
Advocate Sinjari Bandyopadhyaya
Responded 2 years ago
It is necessary to know whether the Plot which the Builder is willing to transfer in your favour is his own property or not. If it is his own property then it is necessary on your part to search in the concerned Registry Offices to find out whether any mortgage and/ or transfer had been registered in respect of that property after the date of purchase of the property by the present landowner. It is also necessary on your part to find out through searching whether that Owner is recorded Owner in the Record of Rights.
It is necessary on your part to scrutinize all the property documents of that Land Owner and its legal perspective. Because as the Builder's present financial condition is poor therefore you have to be more cautious about your deal.
It is advisable not to accept the proposal to execute any agreement on 100Rs stamp paper .
Ayantika Mondal @ Prime Legal
Responded 2 years ago
Both options are equally viable, you can opt for whichever you want, and which suits you and is more hassle free to you. Plot registration would require lot of hassle and documentation, so it is advisable to go for the agreement option.
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Agreement on Rs. 100 stamp paper is also adequate and legally valid, and plot registration as well. You can opt for both, however it is advisable to you opt for agreement on 100 rs stamp paper, as it will prevent you future hassle of registering the plot in favor of the builder.
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