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mumbaitenant (a)     04 November 2009

conversion of tenancy into ownership and then form a society

We are tenants of a old builidng and propose to buy the buidling from the landlord and then form a society. I have the following quries

1. what  should be the strcutire of the  transactions viz. should the landlord sell to us and then we convey it to the society?

2. what would  be the stamp duty implications  on the  above.

Thanks and regards

 

 



Learning

 2 Replies

Meenakshi (Lawyer)     04 November 2009

 Obviously from what i understand that you will have to buy the building from the landlord . which means transfer of property in your name . after having the property in your name you can then do whatever you like with the property demolish,reconstruct or even construct it in a society as per your needs..For that you will have to rester it under societies act...Thanks And for rest you will anyways have to consult a lawyer to make necassary documents like Sale agreement, Affadavit etc.

mumbaitenant (a)     05 November 2009

Thanks... Yes we  will buy the building from the landlord.

On  the stamp duty will we have to  pay stamp duty twice once when we purchase as the tenants and then when we form teh society???

 

 


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