The Chandigarh Administration has given a one-time relaxation by extending the time period for execution of conveyance deed till June 30, 2019, at the actual amount paid by cooperative societies.
As per the scheme, people living in over 10,000 flats of group housing societies are allowed to register the conveyance deed at the rate of allotment, which is Rs 750 per sq yd for 1993 allotments and Rs 2,850 per sq yd for the land allotted in 2001.
Presently, societies which had not got their land registered so far were supposed to pay stamp duty at present collector rate, which was Rs 70,424 per sq yd.
“This decision will also open the process of transfer of flats, which has been on hold for many years. Now, residents of societies will become owners of their flats by paying nominal charges. Previous governments sat on this issue, but we have implemented it,” said local MP Kirron Kher at a press conference held to make the announcement.
As per the new scheme, the present occupants of flats have to pay only Rs 2.50 to Rs 3 lakh as one-time charges for all allotments up to 2001, including those of 1993. Further, one time charges of the 2002 and subsequent allotments has been fixed at Rs 2 to Rs 2.50 lakh in addition to stamp duty at the present rate.
With regard to family transfers within blood relations/inheritance, it has been decided that no stamp duty/unearned increase should be chargeable on transfer within blood relations as exempted by notifications issued in this regard.
What new scheme envisages
The present occupants of flats have to pay only Rs 2.50 to Rs 3 lakh as one-time charges for all allotments from 1993 to 2001. Further, one-time charges of the 2002 and subsequent allotments has been fixed at Rs 2 to Rs 2.50 lakh in addition to stamp duty at the present rate.
