Mahindra Lifespace Developers Ltd

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Stamp Duty & Registration : Payment of stamp duty followed by the registration of the agreement is an important act, when one enters into an agreement with a developer/seller. Both, the developer/seller and the purchaser need to be present at the sub-registrar's office for registering the agreement.

Stamp Duty : Stamp duty is a State subject and hence would vary from state to state. The stamp duty in many states is paid as per the True market value as assessed by the Stamp Office. When an agreement is to be stamped, it needs to be unsigned and undated and after the Stamp Office affixes stamps on the agreement, one may execute the agreement.

Registration of an agreement : The agreement should be registered with the Sub-Registrar of Assurances under the provisions of the Indian Registration Act. Stamp duty should be paid prior to the Registration.

a.	An agreement to buy / sell the land.
b.	A construction agreement for construction of the home, as per agreed upon plans / specifications.

As mentioned above, the agreement has to be registered with the Sub-Registrar Of Assurances. You may wish to execute the Power Of Attorney favouring your nominee. A draft of the same is enclosed herewith.