Legal Question in Real Estate Law in India

I'm a"member-landlord" of Plot-owners co-op hsg socty, in Nashik &develop the same with Devmnt. Agrmnt.[Rs.10/ppr. Notarised]+POA.in 1989.the developer constructed a bldg.there[12 flats+3 shops]out of which i received 2 flats FREE in lieu of my open plot;the remainning 10 flats+3 shops he sold to outsiders.The poss'n was given to all in 1993.I have only POSS'N LETTER.NO Agrmnt. for sale/sale deed.Q1]being a landlord am i suppose to pay/exumpted from stamp duty ®istation?Q2]if yes & since i dont have any Agrmnt.except the Devmnt.Agrmnt.,POA where in all the terms are mentioned;can be used as Agrmnt.for sale/Sale Deed?Q3]is it possible to undertake Apartmnt declaration-®. without me having any Agrmnt.?please guide.


Asked on 8/26/09, 3:24 pm

1 Answer from Attorneys
Shrichand Nahar S.V.Nahar, Advocate

If your Society permits formation of an Apartment Declaration i.e. Condominium, then you are not required to pay any stamp duty and registration charges in respect of flats and shop retained by you in your own name or in the name of persons holding the plot.

There is pointed authority on this point of the Bombay High Court.

You need to be careful in drafting the Apartment Declaration to cover various aspects. Consult a lawyer well versed in such matters.

Read more
Answered on 8/27/09, 12:44 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in India