Franking requirements for construction contract

Gargi Ranade (Querist) 30 November 2011 This query is : Resolved
We are entering in to contract with the Construction Company for construction of factory building in mumbai.

Kindly let me know what will be the stamp duty payable for such contract Agreement.

Is it ok if we make agreement on Rs. 100 stamp paper?

Kindly let me know article which mentions the stamp duty payable for this miscellaneous agreements.

Thanks & Regards,

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M.Sheik Mohammed Ali (Expert) 30 November 2011
best thing engage a lawyer he will help you. any indian contract act will come for agreement terms. more than 20 rupees stamp paper is enough.

Gargi Ranade (Querist) 30 November 2011
Thanks alotfor your prompt reply.
Regards,
Gargi

Rajeev Kumar (Expert) 30 November 2011
I would advise you to contact with ajay sethi who is in Mumbai.

ajay sethi (Expert) 30 November 2011
(g-a) if relating to giving authority or power to a
promoter or a developer, by whatever name called,
for construction on, development of or, sale or
transfer (in any manner whatsoever) of, any
immovable property.
Five rupees for every five hundred
rupees or part thereof of the market
value of the property:

Guest (Expert) 30 November 2011
i do agree!!

Shonee Kapoor (Expert) 02 December 2011
Mr. Sethi has rightly advised for Mumbai, however check with local advocate for your area.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com