Legal Question in Real Estate Law in India
am i suppose to pay stamp duty &rgstration chrges?
i was/am land owner with clear t'tle. in 1990 i entered into an Development Agrmnt.Terms:-Rs.X -cash as consideration & Y-Sq.Ft flat free .Remainning developed portion to be sold in the market as D'per's profit. The D'evmnt Agrmnt. on stamp ppr. Rs.20/- Not Registered but Notarised. the developer has given me POSSESSION in 1993 by getting my signature on Rs.10/-st. ppr. but NO SALE AGRMNT. has been signed �istered. Some views it is NOT nessessary because i have not purchased it but Got it as COSIDERATION. kindly suggest Legally Correct solution so that iwill be able to Avail of the PRESENT AMNESTY SCHEME in Maharashtra.
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3 Answers from Attorneys
Re: am i suppose to pay stamp duty &rgstration chrges?
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Re: am i suppose to pay stamp duty &rgstration chrges?
It will depend on nature of common body of purchasers of all units to be formed. If it is a Condominium, you may not be required to pay any stamp duty and registration charges.
Re: am i suppose to pay stamp duty &rgstration chrges?
Your question is contradictory. In the very opening you have stated that you are the land owner with clear title.
The sale agreement, if any, may be required by other persons to whom you may have sold the property, including the developer. and they may need consider about registeration of their documents.
As far as you are concerned, the construction is raised on your own land. therefore, no registration may be required.
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