Stamp duty only on UDS; Building Value not to be included (For first sale)

Real Estate Update (Tamilnadu):

In projects where undivided share or land (UDS) is transferred to the buyer by the owner and separate agreement is entered for construction -

                - Inspector General of Registration, Tamilnadu has clarified that stamp duty shall not be                         demanded on the value of building and shall be restricted only to sale of UDS

                - This is applicable for first sale of UDS including projects where completion certificate is                    issued by the competent authority

                - No bar on registering separate agreement for construction between the buyer and builder

(Reference Letter No. 11672/C2/2020 dated 11 May 2020)