Agreement to Sell Registration
An Agreement to Sell or Deed of Agreement is a memorandum of agreement which constitute of terms and condition of sale of immovable property by a seller to a buyer. These terms and conditions are inclusive of the amount at which the property is being sold and date of all the payments. It creates better understanding between the buyer and seller.
The Agreement to Sell facilitates the culmination of the transaction without creating any dispute or misunderstanding between both parties. This agreement clarifies and protects the interest of both parties and clear out the terms and conditions under which a buyer is purchasing the property and under which a seller is intending to sell it.
Once the buyer agreed upon buying the property, then he/she must make sure that the vendor does not sell the same property to another purchaser. For preventing it, both buyer and seller must sign a deed or contract for binding them. The deed or contract which binds the seller and buyer is known as “Sale Agreement” or “Agreement to Sell.” The agreement is required to be registered at the office of the concerned sub registrar within whose jurisdiction the property is established, after the payment of stamp duty.
Stamping & Registration of Agreement to Sell in Delhi
- Both the parties are required to be present before the sub registrar office for the presentation of the agreement to sale, along with their two witnesses with their identity (ID) proof.
- Paying stamp duty equivalent to that on the registration of a sale deed. The registration fee is 6% in case of men and 4% in case of women.
- The registration fee @ 1% of the value of the property as per the circle rate, is required to be payable.