Redeveloped houses will not draw stamp duty fees, govt issues notification after HC order
While PAA will draw no stamp duty fees tenants will have to pay stamp duty on the extra area obtained from developers by the tenants, the stamp duty fees will be charged.
The notification from state was issued after Bombay High Court in March this year said that the PAA agreements are executed by a developer with individual members of housing societies or other persons already in occupation and whose houses are being redeveloped. Therefore they are entitled for zero stamp duty.
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The department of stamp duty and registration of Maharashtra has issued a notification stating that Permanent alternate accommodation (PAA) agreement houses provided to tenants of redeveloped buildings will not draw stamp duty fees henceforth.
While PAA will draw no stamp duty fees tenants will have to pay stamp duty on the extra area obtained from developers by the tenants, the stamp duty fees will be charged.
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The notification from state was issued after Bombay High Court in March this year said that the PAA agreements are executed by a developer with individual members of housing societies or other persons already in occupation and whose houses are being redeveloped. Therefore they are entitled for zero stamp duty.
