Legal Question in Real Estate Law in India
Dear Experts,
Can Mr. Y get an exemption of stamp duty in below given case?
Mr. X bought a propery (house) and registered same then He want to sale same within 6 months of registration.
Mr. Y is interested to buy the same property, then in this case can Mr. Y get an exemption of stamp duty at the time of registration in his own name within 6 months from earlier (Mr. X's) registration.
Because the stamp duty was already paid on same property by Mr. X at the time of his own purchase.
(Property Situated in Maharashtra, Mumbai)
Pls reply with any provision/ sec. if any.
Thanks in adv.
2 Answers from Attorneys
Can Mr. Y get an exemption of stamp duty in below given case?
Mr. X bought a propery (house) and registered same then He want to sale same within 6 months of registration.
No.
Mr. Y is interested to buy the same property, then in this case can Mr. Y get an exemption of stamp duty at the time of registration in his own name within 6 months from earlier (Mr. X's) registration.
Because the stamp duty was already paid on same property by Mr. X at the time of his own purchase.
No.
Check local stamp laws applicable and act accordingly.
In Maharashtra, there is a provision for credit of stamp duty paid by an investor for purchase of flat/unit. See Article 5 of Maharashtra Stamp Act.
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