Me and my family are original land property owners, we obtained 4 discounted flats from builder in the new constructed building, year 1983 possession. Stamp duty and registration were not done. Conveyance wasn't given by builder. Per judgement by court in 2015, and new laws, 3 notices sent, and deemed conveyance handed to society. Do we still have to pay stamp duty and registration, if we do, do we pay per new rate, or old rate, pre 1985 rule.. each flat area is approx 450 carpet area, built up 650.. does 400% penalty apply for original land owners
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1) you must have entered into development agreement with builder for redevlopment of your land
2) the development agreement must have mentioned 4 flats allotted to you and your family
3)there must not be any sale deed executed by builder in your favour as you are the land owners
4) submit agreement entered by you with the builder for adjudication as to stamp duty payable
5) on basis of adjudication by collector pay stamp duty with penalty if any
1. Stamp duty is to be paid according to the prevailing rate if the conveyance deed has not been executed.
2. Registration charges also have to be paid according to the existing rate.
3. Better consult a local lawyer as this involves local lawyers.
