I had a agreement registered in 2010 of a flat at Ready Reckoner Rate of Rs 1 crore and stamp duty paid was Rs 500000 i.e @5%. The flats area mentioned was 890 square feet. Now while registration of society it was discovered that the area as per municipal plans area is 840 square feet. We want to file a rectification deed for change of area and therefore query is that whether the same is possible through rectification deed and secondly what is the stamp duty value to be paid on the same ?
If in your sale deed is mentioned as 890 square feet, please file an application to the concern local municipal authority to rectify the measurement in the revenue records in view of the execution and registration of the sale deed.
The authority has the authority to do the same.
Yes, this can be done by way of carrying out a rectification deed.
Since this is a very minor defect and involves a factual error as regards to the measurement of the property, the relevant page should be changed, whatever may be the cost of stamp on that page.
So this means we do not have to pay the entire stamp duty on the flat value as per the new recknor rates ?
1) deed of rectification is to be executed to reflect the correct carpet area of flat
2) it would attract nominal stamp duty
you dont have to pay entire stamp duty again .
2) you have already stamp duty on 890 square feet area of flat in reality is 840 square feet . there is reduction in carpet area of flat
3) it would attract nominal stamp duty
Dear Client,
Rectification deed is possible but it is not sure whether the sub registrar office will return the excess paid amount.
Both Seller and purchaser have to present before registrar and it will be mention in the deed that sale deed actually could be possible for 840 area as same is as per Municipal plan. (Attach Plan)
AND the Seller has returned amount paid for rest extra sq mtr to the purchaser and actual consideration paid for 840 area is ........ and 5 % stamp duty payable of the same area is calculated Rs. .......
secondly what is the stamp duty value to be paid on the same ? --- The stamp duty and registration charges will applicable as payable in the conveyance deed. Since, u have already made excess amount , there has to be recovery than paying another amount except rectification fees.
No, you do not have to pay the entire stamp duty again!
deed of rectification has to be filed for carrying out the relevant changes
A nominal stamp duty will have to be paid
You have paid fees for more carpet area and therefore for the rectification a very nominal fees will have to be paid.
Contact a local lawyer.
Regards
The area of extent is going to be rectified and there is going to be no other changes to be made in respect of the sale consideration amount, hence it may not attract any stamp duty.
If the stamp duty was paid for the extent of only 840 sq.feet, then you may have to pay the stamp duty to the additional extent of the extent of 50 sq. ft at the market/government rate
So this means we do not have to pay the entire stamp duty on the flat value as per the new recknor rates ?
It may be necessary to pay the stamp duty for the increased extent which is 50 sq. ft alone
Yes sir.