Percentage of stamp duty for partition within family

Rajashekar Raghavan (Querist) 05 July 2015 This query is : Resolved
what is the percentage of stamp duty should be paid for registering and settling of property among family members whose individual shares may go to crores in gov guideline value. the property is in tamil nadu. help would be appreciated.

Follow Query

Report Abuse

M V Gupta (Expert) 06 July 2015
You have to check the position under the Tamilnadu stamp Act. Generally the duty is payable on the present market value of one of the shares where the partition is done in equal proportion. If the shares are unequal, then on the market value of the largest share of the property. Under Maharashtra Stamp Act, Article 46 of Schedule I, the duty is 2%. Registration charge of 1% of duty subject to maximum of Rs. 1000/- also is payable.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now