Legal Question in Real Estate Law in India
stamp duty
we are planning to buy a property in india . the seller has not paid stamp duty, (the property was internally transferred to sister concerns in their company earlier)
what are the procedures .what are the risks of the buyer
4 Answers from Attorneys
Re: stamp duty
The title of the property will not pass till the document of sale registered as the documents of sale of the property havin value more than Rs.100/- is required compulsory registration. If you do not know the amout of stamp duty than move an application alongwith copy of the proposed sale deed to collector of stamps for ascertaining the stamp duty.
It is seller or buyer as their agreement, is liable to pay stamp duty
Re: stamp duty
transfered by what means? - need more details!
Re: stamp duty
Apply to the concerned Collector of Stamps and have stamp duty paid. You also need to register the document as it is for transfer of immovable property having value of more than Rs.100/-.
Re: stamp duty
Your querry do not mention as to on which document the stamp duty has not been paid. What are the documents of ownership in favour of the person you are buying property from. I presume that you are NRI since you said you are planning to buy property in India so the deal must be big. In All such deals the papers of ownership of the seller must be closely scrutinized. It is advisable that all the documents of title of the property with seller are examined by a good lawyer or you send those to me after scanning.