MAHAGUN MASCOT REGISTRY---------MAHAGUNPURAM

Guys,

For the benefit of all our community member's, below is the complete analysis of the charges related to registry [with reference to my case]

Charges may appear in possession letter:

1) Meter Charges: 12500 + 10.3% Tax

2) Legal/Admin Charges: 12000 + 10.3% Tax

3) Any other due

4) Interest on late payment

Apart from these, you need to pay Court Fee of amount INR 10,200 in cash. This is new to me. Those who have already done registry, please put a light on this. Is it any kind of bribe? Will this amount vary in case of joint registry?

Registry amount is calculated as below:

1) 8% : Male Holder

2) 7% : Joint Holder

3) 7% less 10K : Female Holder

Component included into registry (In possession letter)

1) Basic Cost : This include basic rate + PLC

2) EDC

3) FFC

4) Legal and Admin charges

5) Meter Charges

6) Club Membership

7) Parking

8) Extra power backup etc...

I checked with 2-3 lawyers in Ghaziabad Tehsil (who specifically do registry of properties), and according to them registry of a flat is always done on Basic cost (including PLC) + Parking charges.

So, no doubt adding item no 2, 3, 4, 5, 6, and 8 above does not make sense. 

Otherwise also, these amount does not corresponds to 'Ownership'  of a 'Property'. So, I was also very clear from the day 1, about Registry includes only Basic cost+ Parking.

Now, coming on to difference in registry amount due to difference in the component included.

For my case, the difference in registry amount is approx 17,000. i.e. If I go with an independent lawyer, I may gain 17,000 as saving. But below  are the risk:

1) The lawyer indicated towards bribing Govt official in order to smooth processing on time. I anticipated this amount around 10,000; in which case the saving reduces to 7,000 only.

2) I heard that the text on stamp paper may have certain clauses specific to Mahagun as a seller. I am not very sure on this. But, if this is the case, you need to be fully sure that the stamp paper include all terms mandatory as per Mahagun. In case of failure, it may result to more trouble.

3) In case of any issue with registry arising later, an independent lawyer may not be available to help. While, we can always catch Mahagun for the same.

My Conclusion:

After going through all this, I have decide to go with Mahagun to have peace of mind. Also, I think the gain is not significant.

PS: Please add your experience too for the benefit of community members.