Regarding stamp duty

pran (Querist) 25 August 2015 This query is : Resolved
Hi,

I am staying in Dombivali(w).

I am living in Chawl.
Now 1 builder is approached us for development of that chawls into buidling.

Current Room is on Our name alredy.

So for getting the Rooom in Building should we pay the stamp duty?
If yes who have to pay i.e Bulider or we have to pay?
Which other Taxes have to pay to municipal corporation.

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H.M.Patnaik (Expert) 15 March 2016
There wo'nt be a separate agreement.It will form part of the Redevelopment agrement to be executed with the Builder wherin it will be stated that by way of consideration for the agreement you will get a Room or constructed space in the redeveloped property.Hence, in my opinion,since the new property is replacing the existing one and there is no change of title, no stamp duty would be necessary.

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