I (Current Owner “B”) have bought my flat (in Mumbai) from Previous Owner “A”, who in turn had bought it from the “Builder”.
The agreement between “Builder” and “A” is neither Registered nor has the Stamp Duty been paid on it. (Agreement Date – Dec 18, 1990)
Whereas, the agreement between “A” and “B” is Registered and Stamp Duty has been paid on it. (Agreement Date – Aug 8, 1991)
I (Owner “B”) now wish to sell my flat. I have been told by my broker and other society members to pay the unpaid Stamp Duty and Registration fees for the previous (old) agreement between “Builder” and “A”.
My queries are as below:
1. Is it mandatory to pay such unpaid Stamp Duty and Registration Fees before I can sell my flat ?
2. If yes, how will the Stamp Duty and Registration Fees (along with penal charges, if any) be calculated;
a. on the current market value of my flat ?; or,
b. it will be calculated on the market value of the old agreement date (Dec 1990 in this case) ?.
Your advice / suggestion in this regard shall be highly appreciated.
Please let me know if additional details are required to provide answer to my query.
Regards,
ND
