Dear Friends,
I have come across this query for quite a long time. As per the Bombay Stamp Act prevalent and in force as of now, the stamp duty on Development Agreement and Sale Deed in Maharashtra is same i.e. 5% of the consideration stated in the document. However earlier the Development Agreement was stamped at 1%.
There has been an amendment to section 4 of Bombay Stamp Act, 1958 (pertaining to Principal document) wherein the word Development Agreement is now included. As such, in case of a land in respect of which Development Agreement is registered when stamp duty was 1%, would it be right to claim this rebate of 1% paid earlier on Development Agreement, in case of a sale deed executed today between the same parties. Such that today the sale deed is executed only with 4% duty since 1% was paid earlier on Development Agreement??
