Cancellation of Agreement/Refund Of Stamp Duty

[smsuhail]

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Hi
Two months back, I had taken a token amount of Rs 51,000/- from my buyer towards confirmation of sale of my flat. My buyer needed to get home loan to buy my flat. As there were certain issues with my society over NOC, we made a agreement but did not registered the sale. My buyer has also not paid me any other partial payments. Now I wish to cancel the deal as my society is creating endless problems. I informed my buyer that I will refund him the token amount. He says that I also need to pay him the Stamp duty charges which he paid towards the agreement. He said if I don’t pay the same, he will send a copy of agreement to my society saying that the sale deed has been done between us, so that I cannot further sale my flat in future. His bank had also done a survey visit to my flat. Also he has told me that he will take legal action against me. Please guide me with your advice. All I want is to cancel the agreement and return his token amount.

[euphoria_82]

Hello Mr. Suhail,

Why are you backing off from selling your flat now? Is it ONLY because of the NOC issue which your society is not issuing you or some other complications ?

Mere non issuance of NOC should not stop you from selling your flat to a desirous buyer.. Earlier Mr.Karavade & Mr.Hemant have guided you well abt selling your flat without a NOC.

Had I been your buyer, even I wud have asked you to pay me the Stamp Duty charges (which I assume must be around a lakh), as it is you who is backing off from the deal. So its better you just sell off without a NOC and move on.

[smsuhail]

Hi Samir

Thanks for your reply. Yes, I understand that NOC is not necessary to sell the flat, but I do any OTHER complication now. The purpose of selling this flat was to buy a bigger flat. This was only possible by selling another flat (owned by my Mother-in-law). All of sudden, there are family issues over that flat.

I am so fed up all of this, that I just wish to roll back the entire decision. I wish to remain peaceful in my own flat. I understand that the decision of cancellation is mine. That’s exactly I wanted to understand from the experts of this forum as to what is my obligation.

First off, my buyer is saying that I need to pay him the stamp duty expense, roughly around 94 thousand. He says that he will return it back to me once he gets the refund. He says he will return me back the net amount in case if there are any deductions. He says that we will make a MOU for this. He says that if I do not agree for this, he will send a copy of agreement to my society. By doing that, he says that I will not be able to sell my flat in future without his consent. He will also take legal action against me.

My stand for the above is simple. I do fully agree that the man's money is blocked due to me and I must help him here as from humanity ground. I will surely give him that stamp duty amount. What I want to know is whatever he said as stated above, is true in legal angle or not ?.

Secondly, what should the MOU contain ? . Should I take a post dated cheque from him of the same amount ? (94 thousand) ? Should I obtain the receipt of cancellation of stamp duty from him ?

Please advice. Awaiting answers as early as possible.