Latest Answer: Documents required for buying ready-to-move-in properties - you should check the original sale deed and entire chain of documents right from the Mother Deed and Possession Letter up to the current sellers sale deed. You should also check society membership and whether property tax and all utility & maintenance bills are paid up to date.
For under-construction property - In case of under-construction property, you must check whether the builder has received all approvals. You should carefully study all terms and conditions of Allotment Letter and Builder - Buyer Agreement.
Q:Very recently in the West Bengal state budget a bill was passed wherein Stamp Duty payable at the time of execution of Agreement for Sale would be 2% and the balance Stamp Duty of 5% along with Court fees will be payable at the time of execution of Deed of Conveyance.Now, if an investor buys a property and pays 2% stamp duty upfront and then sells it to a third party before completion of the project what will be the implications of the recent amendments. As in what will be the liability of the Stamp Duty on the 3rd party at the time of execution of the Deed of Conveyance?
Latest Answer: No, they have clearly mentioned that in order to get the benefit of the reduced rate, the registration has to be done within 4 years from the date of agreement on payment of balance stamp duty. So, you have long four years to pay the balance Stamp Duty.
