A division bench of the Bombay High Court in its recent judgment of Adityaraj Builders v. State of Maharashtra & Ors inter alia held that once requisite stamp duty has been paid on a development agreement entered into between a developer and co-operative housing society, the ancillary Permanent Alternate Accommodation Agreements (“PAAAs”), executed between the developer and the individual members of the co-operative housing society, are not liable to be separately assessed and stamped beyond the requirement under Section 4(1) of the Maharashtra Stamp Act, 1958.
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