Construction of Flats/ Houses by Co-Operative Housing Society
Finance, Land Purchase
Update: No. 283-FT dated 07.03.2018
GOVERNMENT OF WEST BENGAL
FINANCE (REVENUE) DEPARTMENT
No. 47-F.T. Howrah, the 10th January, 2014.
Whereas the Governor is of the opinion that there are reasonable grounds for doing so;
NOW, THEREFORE, in exercise of the powers conferred by clause (a) of sub-section (1) of section 9 of the Indian stamp Act, 1899 (2 of 1899) and sub-section (2) of section 78 of the Registration Act, 1908 (16 of 1908), the Governor is pleased hereby to remit the Stamp Duty and Registration fees chargeable under the above mentioned Acts, on the amount of difference, if any, between the cost of construction of the property of a Co-operative Housing Society in the State to be determined on the basis of the audit report of the Co-operative Housing Society including the additional cost incurred by the individual members towards internal works, etc., as suggested by the registering authority concerned and the present market value of the property as per assessment made by the registering authority, for the purpose of execution of deed of conveyance/ transfer of the property by the Co-operative Housing Society in favour of its members who purchased or otherwise acquired their plots of land and built flats/ houses themselves through the said Co-operative Housing Society and not by any promoter.
Whereas, the Governor is also pleased to decide that the benefits under this order might be available for the flats/ houses which have already been constructed through the Co-operative Housing Society on or before 31.03.2013., if the registration is done on or before 31.03.2014.
For the flats/ houses which are constructed or to be constructed on a subsequent date i.e. after 31.03.2013 through a Co-operative Housing Society as mentioned above, the benefit under this order may be available, if the registration is done within twenty four months from the date of completion of the construction work.
The benefit given under this order will not be applicable in case of 2nd or subsequent transfer of the property by a member of any Co-operative Society.
By order of the Governor,
SHEO KUMAR RAM
Joint Secretary to the Government of West Bengal
No. 47-FT dated 10.01.2014, Source