Legal Question in Real Estate Law in India

Stamp Duty - reg.

Dear Sir,

I would like to know regarding Stamp duty payable on registering UDS of land with Owner.

For instance : -

� X � is a builder constructing 4 flats in 2400 sq.ft., and �X� is the owner of 2,400 sq.ft., and �X� has obtained Sanctioned Plan for putting up 4 residential flats in his 2,400 sq.ft.,

Now I have entered into Agreement of Sale for purchasing 600 sq.ft., of UDS of Land out of entire 2,400 sq.ft., from �X�

However, X himself is a reputed Builder and hence I entered into Construction Agreement with X for putting up ground floor flat G-1 as per sanctioned Plan in Rs.20/- Stamp Paper.

�X� agrees me to convey 600 sq.ft., of UDS of Land out of entire 2,400 sq.ft., within in 3 months and at this juncture,

600 sq.ft,. UDS of land - 5,00,000/-

1,200 sq.ft., - 3 bed room flat going to be constructed based on Construction Agreement with X - 10,00,000/-

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Asked on 8/17/07, 1:32 am

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

Re: Stamp Duty - reg.

Please consult a lawyer with the drafts. It is needed to see whether your transaction is in accordance with the Transfer of Property Act as also local acts like stamp act, flats act etc.

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Answered on 8/17/07, 3:17 am
kavitha balakrishnan kpp associates

Re: Stamp Duty - reg.

nothing to worry...

you shall pay stamp charges for the UDS and the construction if any shown in the document!

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Answered on 8/22/07, 2:50 am
Balasubramanya Beeranna Balasubramanya&Ramesh Associates

Re: Stamp Duty - reg.

The Stamp duty is 10% including Registration in Bangalore but that depends on the prescribed value as brought out by the Government, normally in each state it starts from 7% to 10 % as per the market value of the land and building.

B.Balasubramanya.

Advocate.

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Answered on 8/21/07, 12:05 am

Re: Stamp Duty - reg.

It vary from state to state.Consult a lawyer of your area who has expertised on given subject.

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Answered on 8/17/07, 12:57 pm


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