Legal Question in Real Estate Law in India

Stamp Duty - reg.

Dear Sir,

I would like to know regarding Stamp duty payable on registering UDS of land with Owner.

For instance : -

� X � is a builder constructing 4 flats in 2400 sq.ft., and �X� is the owner of 2,400 sq.ft., and �X� has obtained Sanctioned Plan for putting up 4 residential flats in his 2,400 sq.ft.,

Now I have entered into Agreement of Sale for purchasing 600 sq.ft., of UDS of Land out of entire 2,400 sq.ft., from �X�

However, X himself is a reputed Builder and hence I entered into Construction Agreement with X for putting up ground floor flat G-1 as per sanctioned Plan in Rs.20/- Stamp Paper.

�X� agrees me to convey 600 sq.ft., of UDS of Land out of entire 2,400 sq.ft., within in 3 months and at this juncture,

600 sq.ft,. UDS of land - 5,00,000/-

1,200 sq.ft., - 3 bed room flat going to be constructed based on Construction Agreement with X - 10,00,000/-

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Asked on 8/17/07, 1:49 am

3 Answers from Attorneys
Shrichand Nahar S.V.Nahar, Advocate

Re: Stamp Duty - reg.

Please consult a lawyer with the drafts. It is needed to see whether your transaction is in accordance with the Transfer of Property Act as also local acts like stamp act, flats act etc.

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Answered on 8/17/07, 3:16 am
kavitha balakrishnan kpp associates

Re: Stamp Duty - reg.

usually the builders first sell or agree to sell the undivided share of the land vacant to evade the construction cost! then there shall be an agreement to build at a later date the flat.

this is only to evade tax ... stamp duty.

when the building is shown in the document the construction cost have to be accounted!

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Answered on 8/22/07, 2:45 am

Re: Stamp Duty - reg.

It vary from state to state.It is better that you consult a lawyer of your area who has expertised on the given subject matter.

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Answered on 8/17/07, 12:55 pm


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