Dear Lawyers
Instead of earlier 3-tire system stamp duty, I came to know from newspapers that from 01 March 2012 in Maharashtra if the property is situated under Mahanager Palika i.e. Municipal Corporation than FLAT stamp duty is 5%, if the property is under Nagarpalika i.e. Municipal Councils then stamp duty is 4% and if the property is under Gram Panchayat then the stamp duty is only 3% .
The building in which we wanted to buy the Flat is situated in one of the Gram Panchayat villages under Taluka Karjat, District Raigad, which is falling under the Sub-Registrar of Karjat for registration. The lady sub-registrar is insisting that even if the property or building is situated in gram panchayat villages, buyer must pay FLAT 5% Stamp duty on built up area as per valuation of Govt of Maharashtra as per new GR or Circular. The Govt valuation is also hiked drastically. Actual market price is only Rs 1500 per sq ft for a flat. Buyers are buying and Builders are selling at this rate only. Whereas Govt valuation as per Karjat Sub Registrar is Rs 2300 per sq ft i.e. Rs 800 per sq ft above the market price.... Amazing !
Is Sub-Registrar, Karjat, Dist Raigad justified in forcing the buyers to pay 5% stamp duty instead of 3% ?
Is she not hampering the builders and the buyers together by charging extra 2% stamp duty for building situated under Gramp Panchayat areas ?
Please put your views.
Thanks
Fayyaz Ali
