Stamp duty challan rate revision

Originally posted by : Sagar Kulkarni
	Hello,I am about to purchase a new flat, i just read a news that stamp duty has been reduced to 2%. I am already done with negotiation part with builder and gave him cheques as per previous rate 6%. Builder is saying challans are processed but since the news of 2% came out today, can these challans be revised? agreement is yet to be executed. am I eligible for this change? can i ask builder to revise the challans? How it would be?please guide, thanks in advance.

@ Sagar Kulkarni,

Stamp duty is a state subject which differ from one state to another, hence local laws shall apply. It would be better to inquire from concerned Sub-Registrar / local document writer or a lawyer.

You have stated to have just negotiated consideration with builder which do not require any stamp duty.

However, if the builder / vendor / seller is executing and registering Sale Deed in your favour then only stamp duty is to be paid to government but not to the builder.

It looks like a case in Maharashtra. In whose name the challan is purchased? In this case you should ask the Builder to get the earlier challan cancelled and get refund in favour of that person. Refund is online and complicated process and takes 4 to 6 months. Meantime you buy another challan in case of urgency.