Is LBT applicable on sale deed executed after 1st april 2013 for resale flats

Q: I am in process of buying a resale 2 bhk flat in PMC area, can anyone please tell me if LBT is applicable on sale deed executed after 1st april 2013 for resale flats. If yes what is the percentage of the same

Ganesh, Apartment Resident, Pune

4th April 2013

Buying property in Pune

resale flat

property tax

stamp duty

sale deed

increase in stamp duty

local body tax

lbt

what is lbt

local body taxes in maharashtra

Follow Discussion

Also see discussions for

Pune Buying property Buying property in Pune

Replies (13)

We purchased our flat befire 1 Apr 2013, and in process of Society Registration, does it attract 1 % LBT , (our builder is asking 1% of agreement value from each flat owner) or it will be 1 % of the Society Registration fees only ??

Saandiip Koturwwar,

7th October 2013

Comment

Yes u will have to pay 1 perc LBT even if ur buying a resale flat. Till 31 March u were required to pay 5 perc stamp duty on the market value of the property.. but i guess from 1st April now 6 % stamp duty is required to be paid on the market value.

Balwinder Singh,

12th September 2013

Comment

hi, what about if we are executing deemed conveyance deed ?

Ajit Kolhatkar, Pune

6th October 2013

My lawyer told that at the time of Sale Deed I have to pay nothing...now with this 1% hike in Stamp duty effective from 1st April, he told me that I will have to pay the extra amount of stamp duty.

Supratim,

20th August 2013

Comment

I purchased flat in the month of March and got it registered , I like know Is LBT applicable on this transaction as my housing society is asking for 1% LBT for conveyance deed. Is LBT applicable for this

sachin wachasunder, Pune

3rd June 2013

Comment

I have purchased flat in Mar-2012 and executed agreement to Sell, now want to get 'Deed of Apartment' done in Jun-13, will 1% LBT applicable ? Is any document / link clearly available which states this ? Regards, Deepak Patil, GQT Apartment

Deepak, Apartment Resident, Pune

28th June 2013

is there also lbt on deed of apartment ? i done all the formalities only deed of apartment remains. i m going to do it in next month. plz.

sunil, Pune

26th April 2013

Comment

As per my knowledge Deed of Apartment is same as the Sales deed and in that case you will have to pay Local Body tax. Please update me if i m wrong

Sunil Kulkarni, Pune

15th May 2013

Yes, you have to pay lbt. Its same for everyone i think .

Priyanka Vats, Pune

25th June 2013

I bought a 1BHK flat at Akurdi in Jan 2010 and paid all required stamp duty while registering " Agreement for Sale", than also registered "Assignment Deed" in April 2010, now by builder wants me to register for "Apartment Deed" as I am applying for home loan extension, now in Jan 2014 do I need to pay 1% LBT ? if Yes, than on which amount? First Sale amount by builder to first buyer in 1999 or on resale value at which I purchased in 2010? One advocate says there was a circular on this -No LBT on old agreements and builder says that circular was also revoked!!! No clarity till date . can any one guide me on this, please..
Abhay Shah

Abhay Shah, Pune

20th January 2014

i hve purchased 2bhk flat in kharadi pune. I have done agreement to sell on 1st march 2013. At that time i paid all stamp duty and registy charges. .n0w tomoroww on 26th april i want to do sale deed of property. .n0w they are demanding 1% LBT . .is that applicable as i already paid all charges. .plz reply asap . .its very urgent. .thx in advance.

jasmin.marthak, Apartment Resident

25th April 2013

Comment

yes....the advocate throgh which i got the sale deed done, told me that even if you had paid all the stamp duty money before 1st April ypu have to pay extra 1% of as the sale deed is executed ain front of registrar after 1st April...

Ganesh, Apartment Resident, Pune

25th April 2013

these ppl only know better, how yo suck money from common man... :(

Ganesh, Apartment Resident, Pune

25th April 2013

My lawyer told that at the time of Sale Deed I have to pay nothing...now with this 1% hike in Stamp duty effective from 1st April, he told me that I will have to pay the extra amount of stamp duty..:(

Supratim,

20th August 2013

THANKS GANESH APARTMENT FOR THE REPLY...u are correct...its really big rob from the government..bullshit...thank you supratim....ek he vikalp MODI 4 PM

jasmin.marthak, Apartment Resident

21st August 2013

Dr Santsh Kulkarni
, Latur I purchased a flat in 2010 in Pune. Agreement to sell was done and I paid stamp duty then. Sale deed was also done by paying 17500. However, I could not register it with the registrar office before 31 March, 2013. Still should I have to pay LBT (1%) for registration of the sale deed done before 31.3.2013?

Dr Santsh Kulkarni, Latur

25th April 2013

Comment

I purchased a flat in 2010. Agreement to sell was done and I paid stamop duty then. Sale deed was also done by paying 17500. However, I could not register it with the registrar office before 31 March, 2013. Still should I have to pay LBT (1%) for registration of the sale deed done before 31.3.2013?

Dr Santsh Kulkarni, Latur

25th April 2013

Comment

Documents required are: Proof of Ownership of property by new owner (either registry or will), Affidavit with photograph from new owner attested by executive magistrate requesting the change of ownership, Copy of House Tax Assessment Notice/House Tax Receipt, Certified Location Map (clearly indicating location of property), Identity Proof (2 different Identity proofs are needed), Attested Copy of passport size photograph, and No Objection Certificate(if required).

Nitesh Patil, Pune

5th April 2013

Comment

NOC (if required) -- Please let me know in what scenario NOC is requried and from whom

Ganesh, Apartment Resident, Pune

5th April 2013

and format of same

Ganesh, Apartment Resident, Pune

5th April 2013

Vivek, I agree with you.. I would suggest you to visit the the PMC office or local ward office under whose jurisdiction your property comes and you can get all the forms and detailed procedure as per your needs.

Sunil Kulkarni, Pune

5th April 2013

Comment

Thanks for your reply

Ganesh, Apartment Resident, Pune

5th April 2013

Thanks for your reply, it is very disheartening to shell out 1% extra for a matter of one week delay :(
Can anyone please help me with documents required for change of name in property tax records (PMC area).
If any NOC is required please let me know the format of same.

Ganesh, Apartment Resident, Pune

5th April 2013

Comment

@Ganesh..you are right. That means I have no choice but to give 1% stamp duty extra at sale deed....not a small amount for a middle class people like us ...Government should have the courtesy to inform the public in advance before taking such decisions.

Vivek Kulkarni,

20th August 2013

Yes. You will have to pay one percent extra stamp duty. I confirmed it with registrar's office today. Before 1st april, it was 5% on the agreement value now it is 6% (including 1% lbt).

vishal, Pune

5th April 2013

Comment

Thanks for your reply

Ganesh, Apartment Resident, Pune

5th April 2013

We have done ‘agreement to sale’ for a flat in March 2013... but Sale deed is pending, which will be done after paying final payments to the vendor/seller in April last week. Do I need to pay LBT ?... How do I pay it now, as I have already paid 5% stamp duty when we registered the flat ?

Apshankar, Pune

7th April 2013

If your sales deed is not registered in that case they will ask you to pay 1 % more at the time of registration

Priyanka Vats, Pune

15th May 2013

Yeah i have some flats available in Pune area. Otherwise, you can click on Apartments in Pune. Post your requirement and you will know the list of properties within a day.

4th April 2013

Comment