Q: Intend purchasing a 5-year old society flat in Gurgaon. Society is NOT FREEHOLD as of now. Seller and society informs that the existing member will resign and I would be issued a New Share Certificate and Allotment Letter. Kindly clarify -
1/ whether I will be the treated as first member or secondary member;
2/ When Society becomes freehold, stamp duty will be construction cost or Circle Rate prevalent at that time.