The government of Maharashtra has stated that a member of a housing society that undergoes redevelopment need not pay stamp duty on the allotted permanent accommodation as part of the project. Following this, the member of the housing society undergoing redevelopment is expected to pay only Rs 100 as stamp duty, while the principal agreement between the development and the housing society will be charged as per the conveyance
“The government’s move will be a major relief for both developers and members of existing society going for redevelopment. Earlier the stamp duty used to be paid twice as the developer had to pay on development agreement for rehabilitation component and even the members had to pay the charges on their Permanent Alternate Allotment Agreement (PAAA),” said Hitesh Thakkar, Vice President, NAREDCO Maharashtra
https://economictimes.indiatimes.com/industry/services/property-/-cstruction/maharashtra-govt-says-no-stamp-duty-on-redeveloped-housing-society-apartments/articleshow/102147520.cms
Source: The Economic Times
