Registration and stamp duty charges for property purchased
Mangai Kanniyan
(Querist) 24 December 2018
This query is : Resolved
A tenant( having lease deed) later himself purchased the same land where he runs the company with his OWN EXPENSES ON CIVIL CONSTRUCTION AND MACHINERIES. The registered document is kept pending because of stamp duty and registration fee issue. What is the % of registration fee and % of stamp duty for the property purchased under SARFAESI ACT? And whether the purchaser has to pay the stamp duty only (1)for the land purchased or (2)for the land purchased and the civil constructions done on his own expense or (3)for the land purchased , civil constructions and also the machineries done on his own expense?
Mangai Kanniyan
(Querist) 24 December 2018
A tenant( having lease deed) later himself purchased the same land where he runs the company with his OWN EXPENSES ON CIVIL CONSTRUCTION AND MACHINERIES. The registered document is kept pending because of stamp duty and registration fee issue. What is the % of registration fee and % of stamp duty for the property purchased under SARFAESI ACT? And whether the purchaser has to pay the stamp duty only (1)for the land purchased or (2)for the land purchased and the civil constructions done on his own expense or (3)for the land purchased , civil constructions and also the machineries done on his own expense?
kavksatyanarayana
(Expert) 24 December 2018
The terms and conditions of the Lease Deed need to be verified to advise. Stamp duty and registration fees have to be paid.
SHIRISH PAWAR, 7738990900
(Expert) 25 December 2018
Whoever sold the property, you have to stamp duty and registration charges as per law of state government.
Mangai Kanniyan
(Querist) 25 December 2018
A land owner mortgaged an empty land(without any buildings) to a financial company. After two years he rented the mortgaged land to run a dyeing factory. The tenant built buildings and erupted machineries on his own expense in the same land with owner permission. After two years when the land owner failed to pay the debts to financial company the land came for auction. The tenant who has invested a huge sum on civil construction and machineries comes forward to buy the auctioned land under SARFAESI ACT to run his company as before. Now the query is whether the tenant (purchaser of the auctioned property) has to pay the stamp duty only for the land which is auctioned or for the buildings also which was constructed by the tenant himself on his own expense??
Kumar Doab
(Expert) 25 December 2018
'Buyer Beware' applies to property deals.
It shall be appropriate to get proper legal opinion from a very able LOCAL senior counsel of unshakable repute and integrity specializing in revenue/property/civil/DRT matters and well versed with LOCAL applicable rules/laws and having successful track record…. and worth his/her salt , before signing or making payment.
This may cost some FEE but can defend long term interest and hard earned monies.
Kumar Doab
(Expert) 25 December 2018
Check with lender/ARC that sold the property. While transferring the property to ARC the stamp duty might not have been charged. Such benefit (if any) might have been passed on bidder e.g; you by discounting the price. You may have to bear the duty, fee, charges for further transaction in your name. Your counsel after detailed study of relevant docs can advise and help you, per applicable rules/laws/amendments if any.
Local SRO for applicable duty, fee, charges on deed for land/building
LOCAL authority under whose jurisdiction property falls for any/all charges as applicable on said property…
LOCAL counsel specializing in revenue matters can help and guide.
Kumar Doab
(Expert) 25 December 2018
In the meantime you may go thru;
Madras High Court
In Re vs Unknown on 23 December, 2009
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 23-12-2009
CORAM:
THE HONOURABLE MR. JUSTICE V. RAMASUBRAMANIAN
Company Application No.1928 of 2009
In the matter of the Companies Act, 1956.
https://indiankanoon.org/doc/1693310/?type=print
Madras High Court
P.Pandian vs The Inspector General Of ... on 29 February, 2016
In the High Court of Judicature at Madras
Dated : 29.02.2016
Coram
The Honourable Mr.Justice R.SUBBIAH
W.P.No.28343 of 2015
and
M.P.No.1 of 2015
https://indiankanoon.org/doc/82772191/
Kumar Doab
(Expert) 25 December 2018
You may take help for any matter from, elders of your family, competent and experienced well wishers, seasoned PIP’s, helpgroups, community leaders, NGO’s, experienced colleagues, associations, religious scholars/leaders, influential persons, Employee’s/Trade union leaders, help groups for spouses (Husband/wife) etc and find a very able LOCAL counsel specializing in concerned filed of law e.g; DRT/Revenue/Civil matters as in your case, and well versed with LOCAL applicable rules, precedence, latest judgments etc …. and worth his/her salt, can advise you after examining all case related docs, inputs, evidences on record.
Obtain proper legal opinion in writing!
Avoid acting on your own on hearsay.
One should not fall for IT’s and entities loitering at online portals to allure unsuspecting querists. There are many threads on such instances at LCI also.
Online discussions are not substitute to in person discussions with a very able counsel of unshakable repute and integrity specializing in concerned field of law.
One should not fall for IT’s and entities loitering at online portals to allure unsuspecting querists……the personal details of unsuspecting querists/citizens get stored in databanks/compromised……hacked.
Not only your counsel ( if other very able counsel opine that 1st counsel’s advise was bad, misleading) many posing as Lawyers (actually Liar) have been raking up disputes at online portals including LCI on subjects like ; WILL, Nomination, Gratuity etc etc with their misleading, illegal advices and conduct..and have failed due to untiring efforts by some sincere and good natured Experts that indeed want to help and contribute at such portals. Such entities operate by forming gangs ( ikdi, dukdi, tikdi, chokdi and even more)….and attempt to deflect, divert to other members of their gangs to fleece the unsuspecting querists. Many of such entities have never been to courts and might have never won in any case and may not be able to count even on their fingertips. In the end multiple fake ID’s of such IT’s and entities get permanently blacklisted, shunted out at online portals and outside online portals and even society………and that is exactly what they deserve. Make a note of such entities and if the need be act to confine them to correctional centers; Jail, and let their cost and consequences be, heritable. Why such IT’s and entities litter nuisance at online portals: to hide their own weaknesses, and to satiate their insatiable itch and due to their infectious greed. One should stay away from such infected entities and hence away from such infection. You may post if anyone has ever asked /is asking for money from you have paid.
Such IT’s and entities keep on poping up at online portals with fake and new ID’s after their old ID’s are permanently blacklisted/shunted out and money fleeced from unsuspecting is finished.
There are such very able counsels at each location.
Check for such counsels at LOCAL; O/o Official Liquidator, DRT, Revenue/Civil Courts, HC, SC,..
You can also try for FREE legal Aid from Legal aid center (DLSA) that is usually within LOCAL courts complex..preferably from a very able counsel specializing in Revenue/Civil matters.
Your counsels may opine that you can appear on 1st date, and obtain copies of petition etc to reply later ….and inform the court that you shall be engaging a counsel and appear thru your counsel….Or your counsel can appear and obtain copies of petition etc and reply later or your new counsel can appear for you.
Your counsels can advise after examining all docs/record/inputs pertaining to your matter and help you. You can also search threads on similar query in SEARCH option ON left Hand side of threads in Forum/Experts section. Having learnt a lesson, remember to consult beforehand for your matters or any matter about which you are not properly informed.
There have many instances of such entities operating with multiple fake Id’s at online portals.
The FEE of all LOCAL counsels at all LOCATIONS is not high/unreasonable as mis-believed by many.
Many counsels even at State Capital/Metro towns do not demand unreasonable high FEE.
IT is rather at online portals that unsuspecting querists are mislead as per many publications, by IT’s and Entities that pose as some Lawyer (actually LIAR) and flaunt/advertise firms that are not Law Firms (Actually LIAR’s Firms) to believe that LOCAL counsels are not knowledgeable..are incompetent.
In Reality the LOCAL counsels win cases in LOCAL courts at all LOCATIONS.
You can go thru/search the cases contested by any Lawyer at court website.
Rest; Your own very able LOCAL counsel as already advised above, can advise you in person, after examining all docs, inputs in person.
Obtain proper legal opinion in writing.
Dr J C Vashista
(Expert) 26 December 2018
What did you purchase in SARFAESI auction, i.e., whether it was only plot or plot with apurtinents ?
You shall have to pay stamp duty as well as registration charges on the amount of consideration, at the rates applicable in the State.
Kumar Doab
(Expert) 26 December 2018
Same Query;
http://www.lawyersclubindia.com/experts/Registration-and-stamp-duty-fee-699091.asp
http://www.lawyersclubindia.com/experts/Stamp-duty-and-registration-charges-clarification-699086.asp
Why to post as AQ!
