Dear Sir / Madam, Do we have to pay any additional stamp duty for 'deemed conveyance' of a housing society. All the society members have already paid the relevant stamp duty while registering their flats. Thank you and Regards, Vinayak Thorat
A Society can file application affixing Court Fee of Rs. 2000/-, with the relevant documents, for obtaining “Certificate of Deemed Conveyance”,
at time of registration of certificate of deemed conveyance stamp duty and registration charges are payable
what will be the approximate charges for executing a 'Deemed Conveyance' of a housing society with 16 flats. Stamp duty is already paid by flat owners relevant to their flat cost.
1. Deemed Conveyance is done for the "PLOT OF LAND" and is never done for the constructed building. Regular Stamp Duty & Registration Fees shall apply.
2. Conveyance of individual Flats is done under Transfer of Property Act, WHEN Flat owner pays individual Stamp Duty and Registration Fees while registering Flat in his own name and here Society is not a party to the Sale Deed.
3. Property Card mentions only the area of Plot of Land and not anything constructed on it.
Yes,Definitely.
What have you paid was stamp duty for the flat.
Now you are paying stamp duty for the land upon which your flat,structure and Society is resting.
Deemed conveyance is a process to acquire the ownership of land in the name of Society and every land transfer attracts stamp duty to the treasury of the State Government wherein you enjoy infrastructure provided by the State and Central Government.
You need to pay difference of tax already paid and today's' stamp duty. So need to check all 16 flats stamp duty paid and today's stamp duty charges.
Plus this should be paid by Builder or 50-50% by both Builder and Society.
No stamp duty payable. Deemed conveyance deed is not actual transfer of ownership. Maximum 100rs to 50rs stma duty payable and single deemed conveyance deed will execute.
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Article 25 of Bombay stamp act provides stamp duty payable would be based on market value less stamp duty already paid by individual flat owners for purchase of flat
No additional stamp duty is required if proper duty is paid on all the agreements pertaining to the flats in the building
If you desire to have the deemed conveyance drafted by me then my professional fee will be Rs. 15000/-.
Submit an application in Form -7 to the District Dy. Registrar, Co-operative Societies (Competent Authority)
Along with the form, add the court fee stamp of Rs 2000.
- The stamp duty on the Deemed Conveyance is only Rs.100/-.If all the flat owners have paid the stamp duty and registration of their respective flats on the last transaction for each flat.
- Further , in case there are some flat owners who have not paid the stamp duty , then the same will have to be paid after obtaining the deemed conveyance, at the time of registration of the Deemed Conveyance deed.
Nothing more have to be paid.
Like regular Conveyance, even on Deemed Conveyance, the stamp duty will be only Rs. 100/-, if all the flat owners have paid the stamp duty and registration of their respective flats on the last transaction for each flat.
In case there are some flat owners who have not paid the stamp duty or have escaped the duty, the same will have to be paid after obtaining the deemed conveyance, at the time of registration of the Deemed Conveyance deed by the legal bodies and the same can be recovered from such flat owners.
Like regular Conveyance, even on Deemed Conveyance, the stamp duty will be only Rs.100/-, if all the flat owners have paid the stamp duty and registration of their respective flats on the last transaction for each flat.
The Deemed Conveyance Deed is submitted to the Office of Competent Authority for Approval. The Competent Authority forwards the Deemed Conveyance Deed to the District Stamp Office for Adjudication. If all the Members of the Society have paid the Stamp Duty on their respective Flat/ Shop Agreements & there is no balance FSI, the Deemed Conveyance Deed attracts only Rs. 100/- Stamp Duty.
The stamp duty has to be paid for a conveyance deed. Once that is paid there is no reason for payment of deemed conveyance deed.
If the society is going into redevelopment and the heirs are not handing over the property then a deemed conveyance deed has to be done.
When the developer i.e. the builder and the landowners are ready to sign the deed, the housing society can process the conveyance deed. When the builder or their heir create a hurdle is when the housing society can opt for deemed conveyance. The housing society needs to file an application in the prescribed format before the sub-registrar. Once submitted, the competent authority, within a reasonable time which is not more than 6 months. After verifying the authenticity of the documents, the plea of the builder is heard. Once the competent authority is convinced that the society’s case is stronger, he/she issues the instrument of deemed conveyance
No you don't have to pay stamp duty again and developer is bound for execution of conveyance deed if stamp duty is already paid to him.
