Poa related query

Advocate Jagadish T G (Querist) 13 September 2024 This query is : Resolved
Need solution for below case Urgent basis:

Case details :
1. POA to be executed for property purchase in Bangalore.
2. How much stamp duty would apply in Karnataka if outside blood relative (Friend).?
3. This is for a Joint Ownership (Owners are Husband and Wife stayed outside India) of the property so in that case would 2 POAs would be required? and if yes will double stamp duty would apply?

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Quick Summary

This discussion clarifies the stamp duty and registration charges for a Power of Attorney (POA) for a property purchase in Bangalore. For a POA executed for a friend, the stamp duty is Rs. 500 and registration is Rs. 200. For joint ownership by a husband and wife residing outside India, only one POA is required, and the same stamp duty and registration fees apply. The stamp duty on the property itself varies based on its market value, ranging from 2% to 5%.

T. Kalaiselvan, Advocate (Expert) 13 September 2024
In a POA deed, the Stamp duty for Regarding the registration of the execution of one or more papers is Rs. 100/- and the registration charges also is Rs. 100/- and the stamp duty for Allowing multiple people to act in a single transaction is Rs. 100/- with the fees for registration is also Rs. 100/-

The stamp duty for a property in Bangalore, India is based on the property's market value, and is typically between 2% and 5%:
Properties under Rs. 20 lakh: 2% stamp duty
Properties between Rs. 21 lakh and Rs. 45 lakh: 3% stamp duty
Properties above Rs. 45 lakh: 5% stamp duty
In addition to stamp duty, there is also a registration fee that is typically between 1% and 3% of the property's value.

kavksatyanarayana (Expert) 13 September 2024
As per new rates, the stamp duty for POA is Rs.500/- and the registration fee is Rs.200/-. One POA is sufficient as the husband and wife are the joint owners. One stamp duty is sufficient and like fees also.

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