pending ppty stamp duty -Registration in Maharashtra
AJIT KAWATKAR
(Querist) 22 March 2011
This query is : Resolved
my relative purchased a ppty in 1991 for rs.2lacs in mumbai western suburb.They were told that since consideration amount is Rs. 2 LACS the stamp duty is NIL.Not aware about the law about mandatory Registration the said is pending till tody.They now want to pay the STAMP DUTY,if applicable & REGISTER it .
Q.1] Does it attract STAMP DUTY [value Rs.2 lacs] ? if yes how much ? what will be the penalty ?
2] what will be the Registration amount ?
3] what all documents are required for the whole process to be regularised ?
Pl. guide !
R.Ramachandran
(Expert) 22 March 2011
It is not the question of just paying the stamp duty. What about the vendor, whether he is alive, and willing to execute the sale deed now? If he is willing, then you may have to pay the stamp duty as per the government rate prevailing for the area in which the property is situate. Since it is being registered for the first time, there may not be any penalty, but the registration charge itself will be quite high. For this you consult a local lawyer.
bhagwat patil
(Expert) 23 March 2011
Weather it is registered with sub- registrar office or not. In 1991 if it were a vacant plot the stamp duty were there if it is a registered society waver was there.pl contact with details.
M V Gupta
(Expert) 23 March 2011
You have not mentioned the nature of the property purchased by ur father. whethr it is a flat or shop etc. pl provide all details so that the requiste information on the stamp duty etc. can be provided. But pl note if the document is filed for registration now u will have to pay stamp duty on the present market value of the property and penalty at the prescribed rate.
Adv Akhtar Ali Sheikh
(Expert) 24 March 2011
You say it is pending, where is it pending?
i.e. is the agreement on certain stamp paper with him or it is presented before the registrar and it is pending for stamp duty.
In the former case you can submit the agreement before the Collector of Stamps- at MMRDA building or at chembur depending about the location, the stamp duty will be determined and on that double the penalty will be imposed now, you have to pay the same and then if the Vendor is available you can make a confirmation deed and annexing this adjudicated document you can register it or if the Vendor is not available, you can make a declaration deed and accordingly annexing the document the same can be registered.
the registration amount will not be much just the 1% of the market value
For further details contact adv.aali@gmail.com
