Karnataka Stamp Duty Act
Querist :
Anonymous
(Querist) 18 March 2011
This query is : Open
Hello,
I am planning to buy a under construction flat in Bangalore. The sale agreement is not yet executed. What i came to know from sources that stamp duty on sale agreement has been reduced from current 1.0% to 0.1% w.e.f April 01, 2011 as per amendment by state government.
This means if I go to register sale agreement after March 31, 2011 I will pay 1/10th of the amount as stamp duty.
Please tell me if there is any change on stamp duty on registration of sale deed also?
Should value (cost of apartment) registered in sale agreement be same as value in sale deed?
If these 2 values are unequal what are the implications on financial transaction and how it affects when I am going to sell this property later?
Is registration of property (in buyer's name) is same as registering the sale deed?
Thanks