Stamp Duty on Exchange of Flat

vineet (Querist) 22 March 2009 This query is : Resolved
Dear all,

Suppose i barter my flat with my friend's (i.e. I buy his flat and he buys mine and we settle the net difference b/w us), what will be the impact of stamp duty in the instant case.

Will we have to pay Stamp duty on the net difference only?

If no, is there any way to reduce stamp duty?

Thanks & Regards,

Vineet Somani

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sanjay singh thakur (Expert) 22 March 2009
Dear Vineet
Though your case will largely depend upon stamp duty in your State yet for your kind information you will have to pay Stamp duty as well as Court fee in respect of one deed only (in respect of one flat only) when you go for registration of Exchange Deed. Moreover, if you require two copy of deed of Exchange in that case you will have to pay some extra duty.
Regards.

Shashikant V. Patil (Expert) 23 March 2009
Even though you are exchanging the flats for each others it will be in one and the same deed. You will have to pay the stamp duty on the market value of the flat which ever is higher among the two.

RAKHI BUDHIRAJA ADVOCATE (Expert) 23 March 2009
I do agree with the views of Mr. Shashikant Patil. You will have to pay the stamp duty on the market value of the flat which ever is higher among the two.