Title deed from MUDA

Q: Hi, i like to ask a question to the expert that, in 1977 our company had got allotted a commercial site from MUDA, at that point of time our company was a partnership firm, as per the MUDA terms and conditions we had constructed the building and had let out , in 1986 we got converted our partnership firm to pvt ltd firm, for the reasons known, MUDA didnt issues us the title deed, mean while company went into the liquidation proceeding and same was revived in 2009. after checking up the documents we found that MUDA did not issued us the Title deed to our company, so we applied for title deed, now it was informed that we should pay a penalty of 20% of market rate, with is irrational. can any one suggest the whether MUDA claim is correct or wrong.

Note : we just charged a partnership firm to pvt ltd company

Mahesh M,