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Resale Agreement, Stamp Duty and Rumors…

Things we should know....
Stamp Duty, Agreement Registration

RESALE AGREEMENT, STAMP DUTY AND RUMORS…

Recently Bombay high Court passed important judgment is respect of Stamp Duty to be charged  on Old Agreements. Due to Social Media the news of the above judgment went viral. But due to above viral news rumors spread in Mumbai that now we don’t have to pay stamp duty on old agreements. For removing such rumors and doubts we need to understand the abovesaid judgment passed by the Hon’ble High Court.

In one of the case on person purchased one property by paying only Rs. 10/- towards stamp duty. The said property was purchased by another person in Auction and paid required stamp duty on purchase agreement as per today’s stamp duty rates.  But Sub Registrar office refused to register the new sale agreement by alleging that Rs. 10/- only paid on old sale agreement. Hence party connected approached Hon’ble High Court.

Now for Example:         

Mr. Ramesh sold one Flat to Mr. Suresh in year 1970.

And

Now in year 2019 Mr. Suresh sold the above flat to Mr. Jitesh.

 

In above case can Sub Registrar office could object registration of the new agreement on issue of stamp duty ???

If answer is yes then agreement executed in year 1970 becomes invalid.

Since State as well as Sub registrar office did not give sufficient answer to above , Court passed the said judgment.

So now Citizens will not be in trouble while reselling their old property if no stamp duty is paid on old agreements. But that does not mean that you don’t have to pay stamp duty and registration fees on resale agreement. Stamp Duty is big source of revenue to the Government.

Hence, as per above explanation citizens needs to understand that they have to always pay stamp duty on resale agreement on any property and Sub Registrar office could not refuse to register the resale agreement by objection that No stamp duty or less stamp duty is paid on old sale agreement.

Most of the old agreements face issue at the time of registration of Deemed Conveyance. Now the above judgement will help citizens.

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