Legal Question in Real Estate Law in India
Stamp Duty for Mumbai
My Father has purchased flate in 1971 the carpet area is 800 sqft. Our Is co-operative registered society. Our society has consturcted the building and we have paid the construction cost to the builder hence there is no agreement with the builder. Only the society has given the share certificate to each flat owner. So at the time of selling the flat we have to transfer the flat in the buyer's name.
Please advise us in this case are we supposed to pay the stamp duty as per current.
3 Answers from Attorneys
Re: Stamp Duty for Mumbai
Thanks for referring an interesting question of law involved in the matter. I had carefully gone into the facts narrated by you in your reference.
As you say that your father purchased flat in 1971 , you have paid cost of construction to the builder , your co-operative society issued share certificate and now you want to transfer the flat in buyer's name.
You ar transferring the property today i.e. in 2008 not in 1971 so stamp duty has to be paid at rate appliable at the time of regisration of transfer not at the rate applicable in 1971.
In case you find any difficulty, please don�t hasitate to recommunicate your problem.All possible assistance will be provided you.
Re: Stamp Duty for Mumbai
duplicate question.
Re: Stamp Duty for Mumbai
No stamp duty in your case.
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