No Stamp Duty on Transfer to Blood Relations

The Punjab government has ended stamp duty on registration deeds of transfer of immoveable property to blood relations, i.e., children, grandchildren, brothers and sisters. With the new provision, the beneficiaries will be able to save Rs1 lakh as stamp duty on the transfer of any immoveable property worth Rs20 lakh. They would save Rs7.5 lakh if the property was worth Rs1.5 crore. However, other charges, including registration fee, infrastructure cess, etc, will continue to be levied. This burden is around 4% in urban areas and 1% in rural areas. 

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Plot-flipping in Jaipur?
Successful allottees of the recently-launched housing schemes are queuing up at the Jaipur Development Authority (JDA) office for refund, since many of them could not arrange funds to purchase the plots. 
 
According to JDA officials, a majority of successful allottees of big plots are seeking refunds. JDA is organising camps to issue the allotment letters.  
 
Apparently, successful allottees of larger plots are not able to find buyers. Also, JDA has higher fixed reserve price for larger plots compared to the market price. Private developers are selling plots cheaper in the same area.
 
Soon after the lottery, JDA’s website was flooded with advertisements of successful allottees trying to sell these plots.  

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Mulund Developer To Pay Rs3 lakh
The Mumbai Suburban District’s Additional Consumer Forum recently directed Nirmal Developers (Mulund) to refund Rs3,08,807 to a Chembur resident after the firm failed to pay back the flat booking amount to the complainant. The Forum asked the firm to refund the amount with 12% interest from the date when the complainant had paid the booking amount. The Forum further asked the firm to pay Rs50,000 as fine and Rs5,000 towards litigation charges.
 
In 2007, CV Ramchandran had booked a flat worth Rs26 lakh in the firm’s Eden Gardens and paid Rs3,08,807 as the booking amount. The “Complainant claimed that as per the terms and conditions, (the builder) had promised to hand over the agreement for sale once it received the booking amount. However, it failed to execute the agreement,” reads the Forum’s order. Mr Ramchandran also claimed that the firm had induced him to book a flat by concealing the fact that the project was being developed on forest land.

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