Need more information about 1 % LBT during Lease deed registration

Q: I am Narule Chandrashekhar staying in Nigadi Pune .My society lease deed is in process .i have taken the flat in year 2007 .Right now builder is asking for 1% LBT.As per my understanding if builder is already paid the OCTRI on purchased material. Already we paid all cost of flat to builder including OCTRI .Than why again we should pay 1 % LBT during Lease deed registration. Please need your help to clarify these things.

Kiran Gade,

24th September 2013

Legal in Pune

Follow Discussion

Also see discussions for

Pune Legal Legal in Pune

Replies (2)

Hello, you can follow this link for further decision http://www.commonfloor.com/forum/515d32feded98-is-lbt-applicable-on-sale-deed-executed-after-1st-april-2013-for-resale-flats?order=oldest

Wasim Mohammad, Pune

25th September 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.

Vivek Kulkarni,

25th September 2013

Comment