Legal Question in Real Estate Law in India

We bought a flat in Mumbai in 1984. At that time stamp duty concept was not in place. Recently I read that all those who had not paid stamp duty for old flats must pay by a certain date or face a heavy fine. As we bought property before 1985, we think that this rule is not applicable to me. But some of my neighbours in our society are paying this stamp duty now, although they bought their flats before 1985 as well. Please guide me, if there is any G.O. passed by the government or decision taken by revenue department with regards to properties older than 1985.

Thanks in advance for your help.

Regards,

Abhi


Asked on 12/03/10, 12:49 am

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

In those days, land used to be purchased in the name of a society and then that society used to construct by appointing contractors. The other method employed used to be duly registered agreement between builder and flat purchasers on a nominal stamp of Rs.5/- or Rs.10/- and upon completion of construction, builder used to execute and register sale deed with payment of full stamp duty.

In either of these methods employed prior to 10.12.1985, then no stamp duty was attracted on the agreement in favour of flat purchaser.

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Answered on 6/05/11, 12:38 am


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