Stamp duty

shyam lal (Querist) 25 June 2021 This query is : Resolved
I wish to Gift my share of immovable property,hence it has to be registered and stamp duty has to be paid according to the value of the property,Query is which department /agency's valuation amount would be excepted by the stamp/registrar department.

Follow Query

Report Abuse

Quick Summary

When gifting immovable property in India, stamp duty is payable based on the property's value. The Sub-Registrar's office, where the property is located, determines this valuation. They typically use the government-fixed 'guideline value' or 'circle rate' for the area. While this guideline value aims to reflect market value, it can sometimes be lower or higher than the actual market price. You can obtain an official valuation slip from the Sub-Registrar for a small fee.

Advocate Bhartesh goyal (Expert) 25 June 2021
Every Sub Registrar determine the valuation of property himself as per circle rate of property fixed by Govt.in his area.

Message likes : 1 times

kavksatyanarayana (Expert) 25 June 2021
The Sub Registrar in whose jurisdiction the property lies can give you a valuation. In most Indian States, a Market Value slip will be given officially by collecting a normal fee of Rs.10/- or so as it varies from one State to another State.

R.Ranganathan (Expert) 27 June 2021
Value for stamp duty will be as per guideline value fixed by govt. Verify from the Sub Registrar of the place where your property is situated.

T. Kalaiselvan, Advocate (Expert) 29 June 2021
The State government is authorized to fix the Property Guideline value for all the areas in the State.
For a residential area that is not formed into streets, the guideline value of such properties is fixed upon the survey number of the property.
Property Guideline value is the estimated market value of the property as per the records maintained by the Government. Under ideal conditions, the property guideline value should reflect the true market value of the property. However, in most of the cases, the property guideline value is lower than the market value of the property; but can also be higher than market value in exceptional cases.

Message likes : 1 times

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries