Hello Sir,
I have purchased a 6 year old flat in PCMPC municipal corporation, Pune (Maharastra). The Ready Reckoner valuation of the property is 41 lacs and Agreement value is 47 lacs.
As per the rule, Stamp duty is 6% in PCMC. So I should pay 6% of 47,00,000 = 2,82,000/-, as 47 lacs is higher than 41 lacs.
FYI, 10% depreciation is applicable as the bldg is more than 6 years old.
My QUESTION: Will my Stamp Duty be 282000 - 10% of 282000 = 253800/-? Is depreciation applicable on the agreement value or applicable ONLY on ready reckoner valuation?
