Exchange of flats
YOGESH SHAH
(Querist) 10 December 2015
This query is : Resolved
Dear Sirs,
Following are the facts of the case:
I want to exchange my flat with another member.
My flat's area is 540 sq.ft.(60.22sq.mtr.),on 4th flr.
Another flat's area is 386 sq.ft.(43.05 sq.mtr.) on 5th flr.
CTS No. 1727B Zone: 89/412
As area both flats are not equal, there will be monetary consideration also to the extent of Rs.10 Lacs.
Kindly advice the amount on which stamp duty shall be payable. Pls give working, if possible.
As there will be only one original copy of registered exchange deed which will be with owner of flat whose area is more. What can be done if other party also want original copy of exchange deed as he might face difficulty at the time of further sale.
Kindly advice. Thanks & Best Regards.
P. Venu
(Expert) 11 December 2015
The query is that of procedure. You may contact local SRO and/or the document writers.
Rajendra K Goyal
(Expert) 12 December 2015
The person having bigger flat can sell it to person having smaller flat for consideration of smaller flat and extra money. Stamp on full value of bigger flat would be paid. However, discuss full exercise with local lawyer in view of local law.
K.S.Srinivas
(Expert) 14 December 2015
Approach Sub-Registrar office in your area.
T. Kalaiselvan, Advocate
(Expert) 19 December 2015
This involves procedural aspects hence proper clarification can be had from local Sub-registrar's office especially because the stamp duty differs from one state to another.
