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Remission on Sale/Assignment by means of Co-operative in f/o Member


WHEREAS the Governor is of the opinion that there are practical grounds for doing so;

NOW, THEREFORE, in workout of the energy conferred by way of clause (a) of sub-section 9 of the Indian Stamp Act, 1899 (2 of 11899) and sub-section (2) of area seventy eight of the Registration Act, 1908 ( sixteen of 1908), the Governor is thrilled hereby to remit the Stamp Duty and Registration prices chargeable underneath the above cited Acts, on the quantity of difference, if any, between the fee of development of the property of a Cooperative Housing Society in the State to be decided on the foundation of the audit file of the Cooperative Housing Society which include the extra fee incurred by using the person contributors closer to interior works etc. as counselled via the registering authority worried and the existing market fee of the property as per evaluation made by means of the registering authority, for the motive of execution of deed of conveyance/transfer of the property through the Cooperative Housing Society in favour of its individuals who bought or in any other case received their plots of land and constructed flats/houses themselves via the stated Cooperative Housing Society and no longer by using any promoter.

WHEREAS, the Governor is additionally thrilled to figure out that the advantage beneath this order may be handy for the flats/ homes which have already been built via the Cooperative Housing Society on or earlier than 31.12.2015 if the registration of archives underneath the stated Acts is achieved on or earlier than 31.12.2017.

FOR the flats/houses which are built or to be built on a subsequent date i.e., after 31.12.2015 thru a Cooperative Housing Society as stated above, the gain beneath this order may also be on hand if the registration is finished inside twenty-four months from the date of completion of the building work.

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

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