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Remission on Sale/Assignment utilizing Co-operative in f/o Member

WHEREAS the Governor thinks that there are practical grounds for doing so;

NOW. THEREFORE, in the exercising of the energy conferred utilizing clause(a) of sub-section 9 of the Indian Stamp Act, 1899 (2 of 1899) and sub-section (2) of area seventy-eight of the Registration Act, 1908 (16 of 1908), the Governor is thrilled hereby to remit the stamp responsibility and registration prices chargeable beneath the above-mentioned Acts. on the quantity of difference. if any. between the fee of the building of the property of a Cooperative Housing Society in the State to be decided on the foundation of the audit documentation of the Cooperative Housing Society along with the extra price incurred by way of the man or woman contributors in the direction of interior works etc. as cautioned utilizing the registering authority involved and the existing market price of the property as per the evaluation made via the registering authority for the reason of the execution of the deed of conveyance/ switch of the property utilizing the Cooperative Housing Society in favour of its individuals who bought or in any other case obtained their plots of land and constructed flat homes themselves thru the stated Cooperative Housing Society and no longer with the aid of any promoter.

WHEREAS. the Governor is additionally thrilled to figure out that the gain below this order may be accessible for the flats/houses which have already been developed thru the Cooperative Housing Society on or earlier than 31.12.2018.

FOR the flats/houses which are built or to be built on a subsequent date i.e. after 31.12.2016 a Cooperative Housing Society as referred to above. The gain below this order may additionally be reachable if the registration is carried out within twenty-four months from the date of completion of the development work.

THE gain given beneath this order will no longer be relevant in case of the 2nd or subsequent switch of the property with the aid of a member of any Cooperative Housing Society.

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