Legal Question in Real Estate Law in India
Stamp Duty Amnesty scheme
I have purchased a flat in mid 1985 in Mumbai and registered it.Dlat is approx 870sq ft. No stamp duty was payable at that time. Am I liable to pay it now and how does one calculate the amount.
2 Answers from Attorneys
Re: Stamp Duty Amnesty scheme
You are governed by the law of relevant time. If no duty was payable then, nothing is payable now.
Re: Stamp Duty Amnesty scheme
No stamp duty payable on the agreement prior to Dec'85.
However, where conveyance in favour of the society is pending or in case of apartments, conveyance is pending, it is advisable to pay stamp duty on the agreement prior to Dec'85. Else, that purchaser will be required to pay stamp duty on such conveyance at current rates.
You need to calculate stamp duty on the actual value or stamp duty value, whichever is more.
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