Stamp duty payable on equitable mortgage

Adv. Abhay Gandhi (Querist) 21 January 2018 This query is : Resolved
A property situated in Rajasthan which will be mortgaged in Uttar Pradesh by way of equitable mortgage.
the stamp duty payable on the equitable mortgage shall be on basis of laws of Uttar Pradesh or Rajasthan?
Please answer as soon as possible with clarification that where it is written.

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Guest (Expert) 21 January 2018
If it is going to be a Registered Mortgage the mortgage to be done only in the concerned Registrar Office where the property is situated following the requirements..

Guest (Expert) 21 January 2018
Even for Un Registered Mortgage is concerned the Law of the State where it is situated only would apply.

Guest (Expert) 21 January 2018
Even for any legal disputes in future any Suit could be filed only in the State where it is situated.

kavksatyanarayana Online

(Expert) 21 January 2018
Registration of Equitable mortgage is optional. the registration shall be at Rajasthan where the property is situated. The stamp duty payable on Equitable mortgage is 0.15% of loan amount (maxi Rs.5 lacs) and registration fee at Rs.1%.

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