Driven to desperation, residents are forking out once again for their individual agreements. Many though are not in a capacity to pay again
This paper has been following the issue of a March 2017 circular which says that residents of redeveloped buildings need to pay stamp duty to register their individual agreements. The circular does not recognise that stamp duty has already been paid at the time of the Development Agreement (DA) between builder and housing society committee. The committee represents all the members. Once the project is over, residents are shocked to learn that they have to pay stamp duty all over again to get their homes registered.
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The problem has sparked to life and resonated across the city, after an Andheri activist petitioned the Inspector General Registration head office in Pune. A housing expert stated in a report in this paper that it was not ethical to expect people to pay stamp duty twice. A large number of people have already moved into their homes, without paying stamp duty. They are now living in anxiety without a clear title to their name.
This must be clarified now because it is evident that people are stretched to pay this. Why should locals have to go to court, spend money, time and resources when they are already spending so much shifting into their new homes? The bigger question of course is that of injustice. You cannot and should not pay twice for something. Driven to desperation, residents are forking out once again for their individual agreements. Many though are not in a capacity to pay again.
We want this issue on a party manifesto. Mumbai is battling so many real estate problems. from rent to the BPT issue. We want political representatives to take cognisance of this and represent the lakhs across the city suffering because of double stamp duty. Bring clarity and most importantly bring justice. Resolve the issue now.
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