Development agreement
Manoj
(Querist) 05 December 2011
This query is : Resolved
Good Morning to All experts
The land owners i.e. X have executed an development agreement in favour of partnership firm namely 'Y' giving them rights to carry out construction work,to take necessary development permission, B. U. Permssion, to receive payments from members. I must state here that the partnership firm consist of the two land owners as partners.
(1) The Dev. Agreement is executed in Gujarat and the stamp of Rs.100/- is used on the Agreement. Is this valid
(2)If not what is the stamp duty applicable in gujarat on development agreement.
Raj Kumar Makkad
(Expert) 05 December 2011
1. Yes. This stamp duty is valid is Gujarat for executing the development agreement.
2. No scope.
M.Sheik Mohammed Ali
(Expert) 05 December 2011
yes, its valid the stamp paper, i do agree with experts
prabhakar singh
(Expert) 05 December 2011
I agree with Mr.Makkad.A development agreement in such form and shape is valid.
ajay sethi
(Expert) 05 December 2011
Agreement - Construction / Development / Sale / Transfer (Imm. Property)
5(g-a)One rupee for every hundred
rupees or part thereof of the
market value of the property
which is the subject matter of
such agreement
the stamp duty in gujrat would depend upon the provisions of article 5 g a. it would not be on Rs 100 stamp paper
Manoj
(Querist) 06 December 2011
Good morning to all. thanks to all experts
prabhakar singh
(Expert) 06 December 2011
My yesterday experience indicates you still have questions???Any way very good morning !!!
