Legal mortgage
Labli
(Querist) 16 July 2015
This query is : Resolved
Dear Sir,
1)We are in the process of creating a registered mortgage in maharashtra.
2) In the mortgage deed, properties of maharashtra, chattisgarh and uttarakhand are to be included to secure the loans of various banks and mortgage deed is to be registered in maharashtra under section 28, sub-section 13 of Registration Act, 1908.
3) Further, maximum applicable stamp duty of maharashtra will be paid accordingly.
4) In this regard please confirm:
i) When stamp duty paid in maharashtra and mortgage deed is registered in maharashtra then do we have to pay again the stamp duty in the states of chattisgarh and uttarakhand.
ii) If sub-registrar of maharashtra sends an intimation of the aforementioned mortgage to the sub-registrar of other states mentioned above, then whether any stamp duty is payable in chattisgarh and uttarakhand also.
Please confirm.
J K Agrawal
(Expert) 17 July 2015
When a property is situated in other state but the instrument registered in some other state first you are to pay stamp duty @ the duty payable in state where the document is registered. It is Ok in all respect.
But if you use this document to enforce your rights, you are to pay the stamp duty of the state where the property situate.
In almost all states there is a relax that you will be given set off of already paid duty. It means you are not to pay double duty but to pay the duty at higher rate of the both states.
Dr J C Vashista
(Expert) 18 July 2015
I agree with the expert advise of Mr. J K Agrawal, however, the title document of the immovable property has to be registered with the SR where the property is situated.
