पुनर्विकास परियोजनाओं के लिए न्यायिक निकाय की आवश्यकता
पुनर्विकास परियोजनाओं के लिए न्यायिक निकाय की आवश्यकता आज हम बात करेंगे एक बहुत क्रिटिकल मुद्दा है रीडवलपमेंट। रीडवलपमेंट फंडामेंटल राइट, आर्टिकल 300 ए, गाइडलाइन 79 ए और मैनेजिंग कमेट। अब हम आगे बढ़ते हैं। उसके पहले मैं आपसे निवेदन करूंगी कि मेरे यह चैनल को लाइक, सब्सक्राइब और शेयर कीजिए क्योंकि यह फ्री ऑफ कॉस्ट है और आपको यह जो है मुद्दे वो आपके जनरल पब्लिक के काम में आते हैं वैसे मुद्दे हैं। चलो आगे बढ़ते हैं हम रीडवलपमेंट में। रीडवलपमेंट एक बहुत हॉट केक है और ये हर एक तीसरा बिल्डिंग रीडवलपमेंट में जा रहा है। सही बात है। जैसे हमारी लाइफ है तो हम यह जैसे हमारे हिंदू शास्त्रों में लिखा है कि हम शरीर छोड़ के हमारा आत्मा नए शरीर में जाता है और नया जन्म लेता है। तो जो इधर है उसको नया जन्म लेना ही पड़ता है। तो वैसे ही अगर बिल्डिंग पुराना हो जाए तो उसको नया बनाना पड़ता है। तो उसके लिए सबसे पहले जो मूवमेंट शुरू हुई थी वो आइलैंड सिटी ऑफ मुंबई से हुई थी क्योंकि सारे के सारे जो पुराने बिल्डिंग्स थे जो चॉल्स थी वो मसून के सीजन में कॉलेज हो जाती थी उसके लिए कोई कानून नहीं थे और मुरली देवरा जो हमारे बहुत वरिष्ठ नेता थे उन्होंने एक कानून लाया और रीडवलपमेंट ऑफ डाई लेपिटेटेड बिल्डिंग्स। तो इसके तहत उन लोगों को काफी सुविधा मिली और यह शुरुआत में जो थी वो सेस बिल्डिंग के लिए थी और वो चर्च गेट्स कुलाबा से लेके बैंड्रा तक एप्लीकेबल थी। धीरे-धीरे 1991 आया जो डीसीआर 1991 डेवलपमेंट कंट्रोल रेगुलेशन 1991 आया और उसके अंदर सारे प्रावधान किए गए। माड़ा की लैंड को रीडवलप कैसे किया जाए? स्लम को कैसे रीडवलप किया जाए? आर्मी वाली जो है पुलिस हेड क्वार्टर्स कैसे डेवलप किया जाए? बीएएमसी की जो प्रॉपर्टीज है उसको कैसे डेवलप किया जाए? और जो हाउसिंग सोसाइटी है उसे कैसे डेवलप किया जाए? यह सारे प्रावधान मैंने अपनी बुक कमेंट्री ऑन डेवलपमेंट कंट्रोल रेगुलेशन 1991 जिसकी 15 एडिशंस आ चुकी है आई थी वो उसके अंदर हमने मैंने डिस्कस किया है। आगे बढ़ते हैं 1991 के बाद क्या हुआ? इसके बाद 2009 के तहत एक 79 ए का गाइडलाइंस आया। यह गाइडलाइंस थी कोऑपरेटिव सोसाइटी क्योंकि मेजरिटी जो रीडवलपमेंट है वह कोऑपरेटिव हाउसिंग सोसाइटी जो अभी लागू होता है पूरे बंबई में और इसके तहत थर्ड जनवरी 2009 में एक गाइडलाइंस आई वो गाइडलाइंस के तहत रीडवलपमेंट के प्रोजेक्ट्स तैयार करने होते थे मैनेजिंग कमेट को इसके अंदर बहुत सारी कंप्लेंट्स आई कि जो मैनेजिंग कमेट है वह रीडवलपमेंट प्रोसेस में मेंबर्स को कॉन्फिडेंस में नहीं लेती। ट्रांसपेरेंसी नहीं है। आर्बिटरी अपॉइंटमेंट्स होती है। बिजनेस जो होता है वह कंडक्टिंग बिजनेस मतलब कि वह चाहे एजीएम हो, एसजीएम हो तो वो लोग सही जवाब नहीं देते हैं। ऐसे करली बिहेव करते हैं जैसे वो लोग जमींदार है और बाकी के जो फ्लैट ओनर्स हैं वो उनके स्लेव्स है, टेनेंट्स हैं। तो ऐसे भी बिहेव करते हैं और वो लोग वीडियो उतारते हैं तो वीडियो वो लोग शेयर नहीं करते हैं मेंबर्स के साथ में क्योंकि वो अपने पास ही रखते हैं। रजिस्ट्रार में जाते हैं तो वो […]
Read moreFORFEITURE AND WITHDRAWAL FROM AGREEMENT TO BUY A FLAT
BLANKET CONSENT An agreement with the builder includes pre-printed clauses that secure the interests of the promoter or builder. In a way it’s a business because the promoter is investing huge sums of money, and he wants its security. Godrej Projects Development Limited vs Anil Karlekar on 3 February, 2025 A question arose in the matter of Godrej Properties at Gurgaon, Haryana. Mr. A books a flat and pays a sum of Rs.51 lakhs approx. But upon issuing letter of allotment, the buyer instead of taking possession of the flat agreed he opted for cancellation of the Agreement. He cited the recession in the real estate industry and sought a full refund of the money. A legal notice was served and subsequently flat buyer filed a consumer complaint. The NCDRC disposed of the Consumer Complaint by directing the Appellant to deduct only 10% of the BSP ( Base Sale Price) only towards cancellation of the Complainants’ Apartment and refund the balance amount Rs.34 lakhs along with simple interest @ 6% per annum from the date of each payment till the date of refund within three months. The standard clause in the purchase agreement was : Agreement entered into between the Parties, which read thus: “2.6 It has been specifically agreed between the Parties that, 20% of the Basic Sale Price, shall be considered and treated as earnest money under this Agreement (“Earnest Money”), to ensure the performance, compliance and fulfillment of the obligations and responsibilities of the Buyer under this Agreement. It has been made clear by the Developer and the Buyer has understood that the Sale Consideration and Statutory Charges as mentioned in Schedule VI hereto have been computed on the basis of Super Built Up Area of the Apartment. The Buyer agrees that the calculation of Super Built Up Area in respect of the Apartment is tentative at this stage and subject to variations till the Completion of Construction. In case such variations are beyond +/- 5%, then the Developer shall take prior consent of the Buyer. 8.4 On and from the date of such termination on account of Buyer’s Event of Default as mentioned above (“Termination Date”), the Parties mutually agree that- (i) The Developer shall, out of the entire amounts paid by the Buyer to the Developer till the Termination Date, forfeit the entire Earnest Money and any other dues payable by the Buyer including interest on delayed payments as specified in this Agreement. (ii) After the said forfeiture, the Developer shall refund the balance amount to the Buyer or to his banker/financial institution, as the case may be, without any interest; (iii) On and from the Termination Date, the Buyer shall be left with no right, title, interest, claim, lien, authority whatsoever either in respect of the Apartment or under this Agreement and the Developer shall be released and discharged of all its liabilities and obligations under this Agreement. (iv) On and from the Termination Date, the Developer shall be entitled, without any claim or interference of the Buyer, to convey, sell, transfer and/or assign the Apartment in favour of third party(ies) or otherwise deal […]
Read moreCONVEYANCE AND ASSIGNMENT THE DISTINCTION
ONCE THERE IS A DEED OF ASSIGNMENT EXECUTED BY THE LESSOR IN FAVOUR OF THE LESSEES CAN THERE BE DEEMED CONVEYANCE? Why am I writing this blog? You must be wondering! No noting without cause. Nowadays, in the name of redevelopment societies are collecting huge funds like 20-30 lakhs for Deemed Conveyance. But I am saying it’s wrong? The answer is this society already had a Deed of Assignment executed and registered in its name way back in 1970s. Now this is connivance or illiteracy of the committee that depends on documentary evidence. But this is no less serious offense. Why? It amounts to embezzlement of society funds by way of misrepresentation and fraud. ANALYSIS Let us analyse the question herein is to ascertain as to whether the deed in question is a deed of assignment of lease hold rights. Article 63 of Schedule 1-B of the Indian Stamp Act or would be an outright sale so as to be termed as ‘Conveyance” and would be covered by Article 23 of Schedule 1-B of the Indian Stamp Act. The word ‘sale’ has not been defined under the Indian Stamp Act, 1899. Section 2 (10) of the Act defines “Conveyance” as including a conveyance on sale and every instrument by which property, whether movable or immovable property is transferred inter vivos and which is not otherwise specifically provided for by Schedule 1-A or Schedule 1-B, as the case may be. Now let us see the difference in common parlance: Deed of Assignment: This document transfers interest in property from one person or entity to another. Purpose: It’s used when someone wants to transfer their interest in a property to someone else, such as in property sales or lease assignments. Nature of Transfer: It involves transferring existing property rights, not creating new ones. The Transfer is conditional subject to the terms of Lease Agreement and in case of breach the Lessor/Owner steps in. Execution: It requires the consent and signature of the person or entity giving up their rights. Stamp Duty and Registration: Depending on local laws, it may or may need to be stamped and registered with the land authority. Deed of Conveyance: This document transfers property ownership from a seller to a buyer. Purpose: Confirming Agreement for Sale to establish the buyer’s legal ownership. Nature of Transfer: It creates new property ownership and rights, transferring everything about the property to the new owner. Execution: Both the seller and the buyer must sign it. Requires to be stamped and registered mandatorily. Registration: It typically needs to be registered to show the change in property ownership. In short, Deeds of Assignment transfer existing property rights, while Deeds of Conveyance create new property rights and prove ownership. The word ‘Sale” has been defined under Section 54 of the Transfer of Property Act, 1882 which reads as under:- “Sale is a transfer of ownership in exchange for a price paid or promised or part-paid and part-promised.” “Lease” has been defined under Section 105 of the Transfer of Property Act, 1882 and also in sub-section (16) of Section 2 of the Stamp Act, 1899 which […]
Read moreCAN WE TRANSFER A FLAT IN A HOUSING SOCIETY WITHOUT OBTAINING A PROBATE? IF YES HOW?
A person generates wealth for his survival, comfort and luxury. He earns wealth for growth of his family and children. When becomes old same children start talking of inheritance of his wealth while he is living. There are various provisions of law to bequeath property : a. after death of a person, which is WILL or Vasiyat. When you make a WILL your inheritance is governed by Indian Succession Act 1925. This is very common practice and people always make WILL during their lifetime. This WILL or Vasiyat operates or say becomes live after death of make of WILL. This is where entire drawback or lacuna lies. Court even permits registered WILL in a way rewrites last wish of the deceased. Is it correct to do that? Once challenge to the WILL is permitted the Probate application is converted into Suit. Which takes decades to come up for hearing. Resultant the parties to avoid litigation and waste of time settle the claim in most of the matters. The question arises is whether this was the last wish of the deceased? Answer is No. But it happens. b. Next is inheritance governed by personal law. i. For Hindus its Hindu Succession Act 1956. There are two school of thoughts Dayabhaga which is prevalent in West Bengal where son gets inheritance in fathers property only on death of the father. While in rest of India Mitakshara School of Law is followed. In this a child in the womb gets coparcenary rights in the family property. c. Hindu WILL requires to be probated. ii. Islamic Law 1. The Holy Quran 2. The Sunna – that is, the practice of the Prophet 3. The Ijma – that is, the consensus of the learned men of the community on what should be the decision on a particular point 4. The Qiya – that is, an analogical deduction of what is right and just in accordance with the good principles laid down by God. Muslim law recognizes two types of heirs, Sharers and Residuary. Sharers are the ones who are entitled to a certain share in the deceased’s property and Residuary would take up the share in the property that is left over after the sharers have taken their part. A will executed by a Muslim testator is not subject to the compulsory probate requirements under law. This would be a subject matter of Mohammedan personal law (which differs in its application among Shias and Sunnis). However they do file for probate for transfer of plot of land and other properties in Mumbai. d. In case of a Parsi section 213 (2) of the Indian Succession Act 1925 states that in case of a Parsi dying after the commencement of the Act, a probate is necessary if the WILL in question is made or the property bequeathed under the WILL is situated within the “ordinary original civil jurisdiction” of the Bombay high court. e. For WILL made by a Christian probate is not mandatory under Indian Succession Act 1956. COMMENTS: To obtain probate it takes long-time. Now a days 3-4 years even if not contested. So, […]
Read moreWHAT IS THE PRINCIPLE OF OWELTY ? WHEN DO THE COURTS APPLY IT IN THE CASE OF CO-OWNED PROPERTY?
When is a property jointly owned and cannot be partitioned by metes and bounds what remedy is available to parties? In the case of a property that is jointly held by the family, or which may be inherited by the family which consists of more than one sibling of the deceased how to partition the property? One alternative is division by metes and bounds. This can be done by parties under a registered agreement by executing a Deed of Partition or if there is more than one property then it can be done by executing a Deed of Family Arrangement and followed by executing a Deed of Conveyance or the document which is needed in the matter applicable to the facts and circumstances of the case. It could be of the nature of a Deed of Release, Deed of Relinquishment, Deed of Gift, or Deed of Exchange as the case may be. The same should be done by way of a registered deed. Now when in the following events : for example, a bungalow is jointly owned by the respective families of four brothers who passed away. The legal heirs of three brothers want to sell their undivided share in the property. But one branch of the deceased brother is objecting to the sale; another example, a bungalow cannot be divided or partitioned by metes and bounds because the legal heirs are more, and the area is less; the objecting party does not reside in the said inherited property; In such a case land is locked so even the generation of income from the same. What to do in such a case? In such cases, courts apply the principle of Owelty: what it is? OWELTY : In regard to partitions, the ground upon which the jurisdiction of courts of equity, was maintainable as it constituted a part of its appropriate and peculiar remedial justice. It is, that courts of equity were not restrained, as, courts of law were, to a mere, partition or allotment of the lands and ‘other real estate between the parties according to their respective interests in the same, and having regard to the true value thereof; but courts of equity might, with a view to the more-, convenient and perfect, partition or allotment of the premises, decree a pecuniary compensation to one of the parties for owelty or, equality of partition, so as to prevent an injustice or avoidable inequality.” ‘Lawrence -on Equity Jurisprudenoe (1929), Vol. I pp. 1227, 1228, s. 1147, also contains the following passage:- , The ordinary method of partition is to decree a physical severance of the separate interests, no sale being authorised unless a fair, partition is otherwise impossible, or at least prejudicial. There was no power of judicial sale at common law. The Court ordering physical partition may make its decree effective by compelling mutual conveyances by the parties of their respective interests. Owelty of partition may be awarded to equalize the shares of the parties and may be decreed to be a lien on the excessive allotment. Though only when necessary to a fair partition, and it should be […]
Read morePREVAILING LAW RELATING TO THE TRANSFER AND TRANSMISSION OF SHARES ON THE DEATH OF A MEMBER SHORTCOMINGS
This blog comes in wake of a judgment I came across of the Bombay High Court in the matter of Karan Vishnu Khandelwal Omdham Cooperative Housing Society Ltd. Vs Deputy Registrar -K-West In this matter facts of the case were as under: Mannalal Surajmal Khandelwal (deceased) was owner of a flat no.1 and by virtue thereof, was entitled to share certificate. The deceased during his lifetime registered a nomination in the name of Petitioner- his grandson. The nomination was acknowledged by the managing committee of the society in it’s meeting held on and made an entry in the nomination register. Mr. Mannalal Khandelwal died intestate on 20thJanuary, 2011, leaving behind, Rajendra Mannalal Khandelwal (Son- Respondent No.2); Krishnakumar Mannalal Khandelwal (Son); and Petitioner- son of Vishnu Mannalal Khandelwal (predeceased son of deceased). That upon demise of Mannalal Surajmal Khandelwal, Respondent No.2 – Rajendra M. Khandelwal, made an application to the society, inter alia, seeking transfer of membership and the share certificate in his name. Along with the application, he submitted a No Objection cum Declaration’ and indemnity bond made and executed by Krishnakumar Mannalal Khandelwal. This way, the Respondent No.2 claimed 2/3rdshare and interest in the flat and sought transfer of proportionate interest in flat and claimed membership. The application was rejected by the society on 8thAugust, 2018. Whereafter, the Respondent No.2 preferred an appeal under section 23 (2) of the Maharashtra Societies Act (‘MCS Act’ for short), being Appeal No. 09 of 2019 before the Deputy Registrar. The Petitioner sought intervention in the said appeal. The Intervention was allowed. The Deputy Registrar vide order dated 8thFebruary, 2021 allowed the appeal and held that since the Respondent No.2 has acquired 2/3rdright in flat No.1, to that extent, his interest be noted in the society record. In consequence, the Deputy Registrar acknowledged 2/3rdundivided right of the Respondent No.2 and 1/3rdundivided right of the Petitioner in flat No.1 and directed to make entries in the society records. In revision, the Divisional Joint Registrar upheld the order of the Deputy Registrar and dismissed the revision application of the Petitioner. Feeling aggrieved by that order, the Petitioner has filed this petition. MATTER BEFORE BOMBAY HIGH COURT WHEN ERROR OF LAW OCCURRED The matter when came up before the Bombay High Court, the court observed that Registrar passed the impugned order in haste may be at the behest of respondent No.2. Therefore, the impugned order not only suffers from gross irregularity being passed in breach of principles of natural justice but also against the law, and therefore, deserves to be quashed and set aside. While passing the Judgement Bombay High Court relied upon Indrani Wahi Vs. Registrar of Co-operative Societies (Civil Appeal 4930/2006), held that the cooperative society was bound by nomination made by the deceased and it was bound to transfer the shares to the nominee While passing the Judgment Hon’ble Court it relied upon the provisions of Section 154-B(2) of Maharashtra Cooperative Societies (Amendment) Act, 2019. In any event, by. It reads under: “154-13. On the death of a Member of a society, the society shall transfer share, right, title and interest in […]
Read moreMAHARASHTRA CO-OPERATIVE SOCIETY ACT LACUNAE ABUSE OF POWER AN ANALYSIS AND SUGGESTIONS
“Nearly all men can stand adversity, but if you want to test a men’s character, give him power.” Said Abraham Lincoln This aptly applies to the Managing Committee of a society. Once the power comes neighbor becomes your Master. There are many incidents where the committee manipulates bills and contracts, and even in redevelopment cases three honorary office bearers Secretary, Chairman, and Treasurer have weightage in the finalization of the deal. We see litigations and stalling of projects of a housing society. Human tendency is such that they think of self-gain, instead of taking care and executing responsibilities that they have taken with utmost care and truthfulness. Corrupt minds see financial benefits in every deal. They forget that while doing this they prejudice the property and interests of other flat members. Election: 1 With the new election rules, an election is held similarly to the way in which how elections are held in any Assembly and Parliament. Cartel is formed and elections are won. It has killed the neighborhood’s love, respect, and honor. One family and one flat provision are also violated royally. Even if distant relatives or cousins have a cartel. This creates a monopoly in management. Suggestion: Like Multi Co-operative society, provide that same member or any other joint member from one flat cannot contest the consecutive election. The flat owners/member must take a break or drop out from the next election to give an opportunity to other flat owners/members. So, after serving for 5 years the said member/flat owner cannot contest election for immediate subsequent another term. This will reduce the monopoly of a few flat owners and their families, and their friends. For the convenience of the readers and lawmakers reproduced below is the provision of the Multi-State Cooperative Societies Act,2002 below which restricts reelection after two terms. Prohibition to hold the office of chairperson or president or vice chairperson or vice president in certain cases (1) No member of a board shall be eligible to be elected as the chairperson or president or vice-chairperson or vice-president of a multi-state cooperative society if such member is a Minister in the Central Government or a State Government. (2) No member of a board shall be eligible to be elected as the chairperson or president of a multi-state cooperative society, after he has held the office as such during two consecutive terms, whether full or part: Provided that a member who has ceased to hold the office of the chairperson or president continuously for one full term shall again be eligible for election to the office as such. Explanation:- where any member holding the office of the chairperson or president at the commencement of this Act is against elected to that office after such commencement, he shall for the purpose of this section, be deemed to have held office for one term before such election. Proposed Suggestion : A similar principle must be applied to the housing society. A.2 A Managing Committee was disqualified for 5 years, and an administrator was appointed. Managing Committee manages to suppress the facts from members of the society and manages that the […]
Read moreCAN SOCIETY CHARGE MAINTENANCE CHARGES ON AREA WISE BY WHICH LARGER FLAT OWNERS CONTRIBUTE A LESSER AMOUNT THAN SMALLER UNITS?
Nowadays an ultra-vires method of chargability has been adopted by several societies. The committee uses its majority power and misguides the General Body of members and passes the resolution. Chargeability on unit-wise results in higher contribution by small flat owners and lower contribution by larger flat owners. Maintenance charges are the foundation to run the expenses of the society. Now first let us see the provisions in the Act of 1960 and the byelaws. Byelaws are contracts between the management and society. Any breach of byelaws amounts to a breach of contract and breach of trust. Any discrimination made is a serious breach of equal rights granted under the constitution of India. BYE-LAWS PROVISIONS FOR CHARGABILITY OF MAINTENANCE: LEVY OF CHARGES OF THE SOCIETY The contribution to be collected from the Members of the Society, towards outgoing and establishment of its funds, referred to in these bye-laws as ‘the charges’ may be in relation to the following : (i) Property Taxes, (ii) Water Charges, (iii) Common Electricity Charges, (iv) Contribution to Repairs and Maintenance Fund, (v) Expenses on repairs and maintenance of the lifts of the Society, including charges for running the lift. (vi) Contribution to the Sinking Fund, (vii) Service Charges, (Viii) Car Parking Charges, (ix) Interest on the defaulted charges, (x) Repayment of the installment of the loan and interest, (xi) Non-occupancy Charges, (xii) Insurance Charges, (xiii) Lease rent, (xiv) Nonagricultural tax. (xv) Education and Training Fund (xvi) Election Fund (xvii) Any Other Charges. The Service charges of the Society referred to at 64 (vii) above shall include the following: Salaries of the office staff, liftmen, watchmen, malis and any other employees of the Society. Where the Society has independent Office, the property taxes, electricity charges, water charges etc. for the same. Printing, Stationery and Postage, Travelling Allowance and conveyance charges to the staff and the Members of the Committee of the Society. Sitting fees paid to the Members of the Committee of the Society, Subscription to the Education Fund of the Maharashtra Rajya Sahakari Sangh Ltd. Annual Subscription of the Housing Federation and any other co-operative institution to which the Society is affiliated. Entrance fees for affiliation to the Housing Federation and any other cooperative institution. Audit Fees for internal, Statutory and reaudit, if any. Expenses incurred at meetings of the general body, the Committee and the Sub-Committee, if any k. Retainer fees, legal charges, statutory enquiry fees. Common electricity charges. Any other charges approved by the General Body at its Meeting. However such charges should not contradict the provisions of the Act, Rules and Bye-laws of the Society. 66. The Committee shall apportion the Share of each Member towards the charges of the Society on the following basis: Property taxes: As fixed by the Local Authority Water Charges: On the basis of the total number and size of inlets provided in each flat. iii. Expenses on repairs and maintenance of the building/buildings of the Society: At the rate fixed at the general body from time to time, subject to the minimum of 0.75 percent per annum, of the construction cost of each flat for meeting […]
Read moreCAN SOCIETY REFUSE TO TRANSFER A FLAT ON AN UNREGISTERED AGREEMENT?
CAUTIONARY The Committee of Society should not use the law for harassment but for betterment. We have a question before us. Let us analyze There was a leading case of Kalpita Enclave vs Kiran Builders. This was under Section 7 of the Maharashtra Ownership Flats Act,1963. In this case, two flat purchasers had filed suit under Section 7 of said MOFA, which was objected by the builders. Subsequently, MOFA Section 4 was amended and 4A was inserted. 1[4A Where an agreement for sale entered into under sub-section (1) of Effect of section 4, whether entered into before or after the commencement of the Maharashtra Ownership Flats (Regulation of the promotion of construction, registration sale, Management and transfer) (Amendment and Validating Provisions) Act 1983, remains unregistered for any reason, then notwithstanding anything required to contained in any law for the time being in force, or in any judgment, decree be or order of any Court, it may be received as evidence of a contract in a suit registered for specific performance under Chapter II of the Specific Relief Act, 1963, or of as evidence of part performance of a contract for the purposes of section 53A of the Transfer of Property Act, 1882, or as evidence of any collateral 1882. transaction not required to be affected by registered instrument.]. Subsequently, Maharashtra Textile and Co-operation Ministry came out with a Circular dated 16th October 1991 not to effect transfer by the Society till Stamp Duty and Registration charges are paid. However the unregistered document is not invalid and can be received in evidence as per Section 4A of the MOFA Act,1963. The market value concept came into force on 1st January 1986 and all documents prior thereto are out of the purview of the market value. Concluding Remarks: In current times society is bound to transfer flat upon payment of stamp duty and registration charges. But old documents are out of the scope of the valuation. Documents which are executed up to 31st December 1985 are not liable for market value. Even documents prior to 1986 and subsequent which is unregistered are not invalidated by their non-registration. SHRUTI DESAI 7th September,2022
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