Rajesk (fda) 17 December 2012

Difference of stamp duty - sales deed & booking agreement

Hi,

I am about to purchase a resale property. The current owner did his booking agreement in 2008. He got the possession in 2010.

But the builder has still not executed Sales Deed.

I will be doing an agreement for sale with the current owner. After completing the entire payment (coz of loan), I will be doing a deed of assignment with the current owner.

I got to learn that builder will be doing a Sales Deed in 2013 with me (& other flat owners). And that I will be liable to pay the difference of stamp duty.

This has made me worried. Coz the current owners has purchased it in 2008 at lower rates. Today in 2012, the ready recknor valuation has almost doubled.

Does this mean that I will have to pay the difference (at the time of sales deed with the builder) of 2008 & 2012 rates?

I will be doing Agreement for Sale with current owner in 2012 at current rates.

Request you all to help me on this at the earliest.

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3 Replies

nilesh chawda (tax consultants) 21 December 2012

it a state subject s oalw of the relevant state will apply

Nitin (Manager) 21 December 2012

See,

Mr. Rajeshk

make it very clear that the imposition of stamp duty on any instrument is imposed at present time.

It is very clear that every instrument once executed needs to be stamped immediately with 3 months

therefore, present stamp duty will be applicable, especially when the case relates to any of the immovable properties.

Warm regards

Rajesk (fda) 21 December 2012

Property is in maharashtra.

Yes, I agree that stamp duty needs to be paid at the current market rate only. I will be doing my agreement for sale with the current owner & will be paying stamp duty at the current rate.

When the builder does a sales deed with me in the future, what will be considered as paid stamp duty?

Mine (which I will do at the current rate)?

Current Owner (who has paid in 2008 at the rate prevalent at that time)

E.g.

Owner paid Rs. AAAAAA in 2008 as stamp duty.

I pay Rs. BBBBBB in 2012 as stamp duty.

In 2013 when builder does a sales deed with me, stamp duty is to Rs. CCCCCCC

So the difference to be paid will be

Rs. CCCCCCC - Rs. BBBBBB?

Rs. BBBBBB - Rs. AAAAAA?