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Stamp Duty and registration of 400 sq ft house in South Mumbai

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I am the owner of a 1 BHK flat in South Mumbai 390 sq ft. This flat was allotted as a member of a cooperative society for which I paid construction cost of Rs 126000/-. I received possession in 1992 and since resid. I have not registered the allotment letter and paid stamp duty. Should I pay the stamp duty and register my flat as there was no agreement of sale.

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