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Girish   18 May 2022

Stamp duty

Our housing society owns the land 70% and rest 30% ownership is by the landlord as part of deemed conveyance order issued by the govt/authorities. One portion is occupied by society and the other by landlord separated by a common wall. We jointly plan to redevelop the premises. Owner wishes to transfer (not sale) the land so that s single common structure/building can be newly constructed which will be shared/occupied by both society members and the owner/landlord. Owner/Landlord will become a new member of the registered cooperative society as part of this transition.

Will there be any stamp duty levy on the transfer of land by landlord to society? If yes, who is liable to pay that ?

 



Learning

 3 Replies

P. Venu (Advocate)     18 May 2022

Any suggestion depends upon the terms and conditions of the agreement.

SHIRISH PAWAR, 7738990900 (Advocate)     18 May 2022

Hello,

As per me, 6% stamp duty will be required if the landlord intends to transfer his share of land to society. There is no law/rule for liability of payment of stamp duty. Parties mutually decide who will pay the stamp duty and act accordingly.

Girish   19 May 2022

Thank you Venu and Shirish for your quick respponse. Much Appreciated.


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