Rakshita 23 June 2015

Registration of underconstruction resale property

Hi ,

I am interested in Buying a Resale underconstruction property worth 63Lacks in PCMC(Pune ). and have a below queries as i m buying for the first time :

1. Current owner of this flat has already paid for registration+stamp duty+VAT +Service Tax. when he purchased it from the builder . Do i have to pay all of it again or only Registration and stamp duty will apply in my case ?

2. For processing of Bank loan in may case is it necessary to pay registration and Stamp Duty before disbursement ?

3. Is there a mandate to complete Stamp duty and Registartion formalities within a stipulated period after Sale Agreement is made or it can be done anytime after sale deed ,if yes what is that period ?

TIA

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4 Replies

c.p.s. ramachary (1500) 23 June 2015

Your vendor paid stamp duty and incurred registration charges. When the vendor transfers the property to you, you have to pay stamp duty and registration charges as the title property is transfered to you. Similarly, service tax, vat etc. as payable by the purchaser according to practice in Su-Registrar's office for which valid receipt will also be given by the Sub-Registrar's office. If no valid receipts are given by the Sub-Registrar's office for service tax. vat etc.

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Rakshita 23 June 2015

Thanks Mr. Ramachary ! Can you also please help me with time period within which registration can take place after sale agreement .