Legal Question in Real Estate Law in India

Amnesty scheme

Our soc took land on 30 years lease from MHADA in Powai, Mumbai area. Members paid about 26-Lacks to MHADA registerd the document paying stampduty about 2-Lacks. Conveyance for the land is in the name of the SOC.SOC got the building constucted through a contracter. members shared expenses towards land & construction. SOC issued Alloutment letters to each member on SOC letter head. Please let me know whethere thease alloutment letters are required to be Registered & samp duty is required to be paid. Is it covered under Amnesty scheme?

Thanks.


Asked on 9/15/08, 1:50 am

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

Re: Amnesty scheme

It all depends on the time of admission of members.

If all the members holding flats were member of the society at the time of lease of land and thereafter contract of construction was given, then no stamp duty is payable.

In case of new members, who joined society after lease of land and during construction of building, stamp duty under Article 25 of the Bombay Stamp Act is attracted.

If stamp duty is payable, same can be paid under the ongoing Amnesty Scheme.

Read more
Answered on 9/15/08, 2:24 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in India