Hry to crack whip on those delaying property registration

REGISTRATION ACT, 1908 DOES NOT PROVIDE FOR PAYMENT OF STAMP DUTY FEE AT CURRENT COLLECTOR RATE FOR PENDING CONVEYANCE DEEDS

- Hitender Rao

CHANDIGARH: The Haryana government will make it mandatory for real estate developers, builders and co-operative housing societies to complete the registration deed of the properties transferred to the allottees. This will also include properties which were transferred by the builders and societies to the allottees years ago but were not registered.

For allottees who fail to register deed of conveyance within a specified period, the state government is planning to impose a tough stipulation whereby the allottee will have to pay stamp duty at the current collector rate. "The prospects of paying a higher stamp duty at current collector rates will spur allottees to go in for registration of conveyance deed. Instructions in this regard will be issued by the revenue department," said an official.

Registration of conveyance deed under Section 17 of the Registration Act, 1908 is compulsory to make the transfer of property and its ownership valid.