Legal Question in Real Estate Law in India

I had purchased a flat in 2011 at Bhopal (M.P.)and taken loan from SBI.....During the process builder has prepaired a sales deed on plan paper and the same was submitted to SBI for loan purpose. Sales deed was perpaired on 30.07.2011 and registary was done in Dec'11. Now we got a notice from Ragistrar office that sales agreement should be prepaired on stamp paper and the value of the stamp should be 1% of sales agreement. In that letter they have adviced us to deposit 1% amount on 29.06.2013. Discussed with builder, he is saying that during agreement time this rule was not formed now a days it is the rule and buyer has to pay the amount.

Please confirm us following :

1. Who has to pay the amount for sales agreement (buyer or seller or both 50-50%)

2. If during 2011, this rule was not formed then today Registrar office can claim us the stamp duty.


Asked on 6/26/13, 10:20 pm

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

27.06.2013

Dear Sir / Madam,

1. The stamp duty on the Agreement value of the flat was payable on the date of registration in December, 2011. If there is no consensus between you and the builder on who has to bear the Stamp Duty and it has not been documented in the Agreement for Sale, it is better you pay 50% of the Stamp Duty and the builder pays the remaining 50% of the Stamp Duty.

2. The Indian Stamp Act is prevalent since 1850, and the Registrar's Office can claim the Stamp Duty for the transaction.

Regards,

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Answered on 6/27/13, 4:54 am


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