I am buying property from an investor , he has booked a flat in May,2010 for 20L but he did not made the registration of the property till date, today ready rackner rate of the property is 30L , He is registering the property in March,2015. so he is paying the stamp duty of 30L and register a property of 20L in March,2015.
I am buying from him this property for 40L, so he is asking me to pay stamp duty of 10L to the government and give the stamp duty of 30L to him as he has made investor agreement, he is telling that he is liable to get refund of 30L.
I am confused since actual purchase of the property has happened in May, 2010 . But he is registering today. So his property holding is more than 1 year , though he has not registered but he has paid the payment in installment as per the progress of the construction and he has also paid ST (Service Tax) since 2010 till day during all his payment. So it is very much relevant that the purchase of the property is not less than 1 year. So this may be a problem when he claim the refund for the SD.
Do you advice me to pay stamp duty of only 10L only and give the stamp duty of 30L to him OR Pay stamp duty of 40L and ask him to get the stamp duty refund from the government.
Or Not to go for this deal.
Waiting for your reply.
Thank you.
