Legal Question in Real Estate Law in India

stamp duty

I purchased a plot in 1994 on allotment basis from punjab urban developement authority costing Rs. 2,00,000.00 and built a house over it after due approval of authorities. So far no convayance deed has been made. Now the govt. authority is asking me to complete the convayance deed within three months failing which the plot will be resumed.

How much stapm duty will be levied on the convayance deed. Will it be on the present market value or the value paid to govt. in 1994 PLUS 2% per month interest [subject to a maximum of 200% of the same]


Asked on 11/06/08, 7:05 am

2 Answers from Attorneys
Shrichand Nahar S.V.Nahar, Advocate

Re: stamp duty

If you get your old agreement or allotment letter adjudicated as principal instrument by paying stamp duty of 1994 and applicable penalty, then you will be charged with minimum stamp duty on conveyance.

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Answered on 11/07/08, 5:57 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: stamp duty

The stamp duty may be on the original price. You may contact the authorities concerned in response to their notice and do the needful.

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Answered on 11/06/08, 10:12 am


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