Legal Question in Real Estate Law in India

I am flat owner(NRI) in registered co-operative housing society in SURAT -GUJARAT state. The share certificates issued to me in the year May'2001. During this time the prevailing law didn't insisting to carry out dastavej and thereby preventing to pay stamp duty thereof.

The builder who is promoter of society is still secretary of the society.All type of bill municipal tax ,water and electricity bill,maintaitanance is paid by me and on my name.

Now i want to sale my house.On inquiry buying party find my name is not in indexation or some where.

To enter the name in local city survey,I have contacted earliery to city survey office but they said if u want to sell this ,no need to do it now ,later who purchase can trasfer enter their name directly.

Now buyer is asking for dastavej Do i have to carry out dastavej at prevailing rate of jantri with the builder and then only they will enter my name if index .

I am confused as the issue of share certificate in the year 2001 restrict to execute dastavej, and thereby to pay stamp duty.

You are requested to kindly guide me with relevant law prevailing in this connection.Thanks.


Asked on 6/04/12, 9:07 am

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

You may consider getting your old agreement stamped with payment of penalty/interest - which may prove to be less than stamp duty as per current values/rates. Further, there may be Income Tax issues in respect of document at present value/rates.

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Answered on 6/04/12, 10:14 pm


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