We have reached an agreement on the sale of commercial real estate. At the time of the agreement buyer paid serious money from 1lakh, the agreement mentions that the transfer will be concluded within five years from the date of the agreement on the payment of the balance consideration. Now we both want to be extended by two years. The contract has not yet expired. In addition, one of the clauses in the agreement says that on cancellation the seller must refund the serious money with the interest of …..% what does that interest mean? 3. No stamp duty is due if the sales contract is renewed. Should we re-register and re-register new agreements? The purchase paid 80k as stamp duty at the time of the agreement, if renewed, it must again pay the stamp duty? 4. The revocation clause implies that the serious money must be repaid with the interest in the agreement. You can renew the same agreement by approving on the back of the first or second page of the original agreement with witnesses who certify approval. 2. In calculating the capital gain, the date of execution of the sale benefit is relevant, not the date of the sale agreement. 1. You can run and save an endorsement.
3) If and when the balance is made, ready for sale in favour of the buyer If these contractual terms have been agreed, the seller is bound by this condition. Capital gains tax is only calculated after the recorded sales return has been withdrawn. All you have to do is change the agreement and sign it. Section 17 of the Indian Stamps Act makes it mandatory for the sale agreement, which sets out the conditions between a landlord and a tenant who wishes to renew the lease of a commercial or residential property. There is little or no legislation with respect to such an agreement, so that the parties can do more or less what they choose. 1. Yes, if the initial agreement has been registered, then the agreement must be registered for the extension of time as well. 4. Repayment of serious money with interest at a specified rate means that you must repay the incorrect money he deposited, as well as the interest charged to the potential buyer in the event of termination of that contract. This means that there is a registered agreement for the sale. You must therefore register the declaration of extension of the deadline. In general, the term % refers to fixed-rate bank interest rates.
3.The time extension agreement does not attract stamp duty. No stamp duty may be paid on the extension if it is confirmed only on the back of this agreement. 1) Wait for the expiry of the contract and then renew it by mutual consent on the same terms for the period of 2 years 4) in case of termination of the contract, you must repay the Rs a Lakh of you with the agreed interest rate 1.