buying a property

Sudeshna Basu (Querist) 18 June 2010 This query is : Resolved
Dear Sirs,
My father is a retired person and ants to buy an old house costing Rs 40 lacs. Please tell me the approximate amount of Registration and other taxes he has to pay.
Thanks and regards,
S Basu

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Daksh (Expert) 18 June 2010
Mr.Sudeshna Basu,

You have not mentioned the state as the rates vary from state to state. For practical reasons it is advisable to consult the local Sub Registrar office in this regard.

Best Regards

Daksh

Sudeshna Basu (Querist) 18 June 2010
The property is in Kolkata, West Bengal

V.T.Venkataram (Expert) 18 June 2010
The stamp duty cost will be 6% of the property value for stamp duty + 1.1% of the property value for registration fees

Source :-
http://www.doingbusiness.org/Subnational/ExploreTopics/RegisteringProperty/Details.aspx?economyid=362

Vineet (Expert) 18 June 2010
Dear Mr Basu

I agree with Mr Daksh. It is not only rate of stamp duty but market value as per relevant circle rate and method of valuation for which a local lawyer dealing in property registration matters shall be helpful.

soumitra basu (Expert) 20 June 2010
1. Go to sub-registrar office and fill up a form by stating the details of the property and proposed purchase price.
2. The registrar will handover you a computerised generated form where the stamp duty and registration fees will be clearly mentioned.
3. The information shall be valid upto one month from the date of the information.

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