Co-operative housing society redevelopment in mumbai
kumar gangadharan
(Querist) 13 June 2015
This query is : Resolved
Dear sir,
I have the following query. Kindly clarify.
After completion of redevelopment of a Co-op Hsg Society building are the existing members liable to pay any stamp duty on the redeveloped flat. (Building located in Mumbai City Suburban area)
For example if an existing member with 500 sq ft area gets 20% + as per redevelopment agreement. The area of the new flat of the said member (post redevelopment) will be 500+100 = 600 sq.ft. Is the member liable to pay any stamp duty on the entire 600 sq. ft or only on the difference of 100 sq. ft. Please clarify. Thanks.
Dr J C Vashista
(Expert) 15 June 2015
Since the members of the CHS have handed over possession of their flats for redevelopment to the builder, which were already owned by them (say with an area of 500 sq. ft.), they need not pay any further stamp duty for additional space made available to them (say 600 sq. ft.)in the existing land.
