Dear Sir,
- A developer solely owns a piece of land and proposes to build 50-60 residential residential apartments in Tamilnadu, say Madurai.
- A Purchaser who plans to buy an apartment from the developer
- Both enter into agreement for undivided share of land (UDS) and construction.
- The developer executes sale deed in favour of Purchaser for proportionate share of UDS (Undivided share of Land) and constructs the apartment according to agreement.
Now the question is whether, the value of stamp in the sale deed should be only for the proportionate UDS or for the cost of construction too?
If the land is owned by a third party (in which case a tri party agreement will be made), will the applicability of stamp duty in sale deed of UDS be same as compared to the scenario where the land is owned by the developer?
Thank you
regards
Shiva
