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Prashant (Engineer)     29 March 2011

Stamp Duty- Sale of property

Hello,

Please tell me how much  % stamp duty is to be paid on sale agreement and sale deed for an "APARTMENT" in Bangalore according to recent change in state government proposed law.

Is it same as conveyance of 7.5% or has come down to 5%?

What is the risk if value shown in sale agreement is not equal to that in Sale deed.

Will it affect future sale of APARTMENT if values mentioned in sale agreement and sale deed do not match.

I am going for a bank loan for this deal. Please tell me how the stamp duty will be divided on sale agreement , sale deed, and Deposit of title deed (DTD).

Please clarify.



Learning

 2 Replies

adv. rajeev ( rajoo ) (practicing advocate)     29 March 2011

The duty shall be payable at the rates specified under clause(2) of article 20 on the amount of value of consideration as setforth in the instrument.

adv. rajeev ( rajoo ) (practicing advocate)     29 March 2011

I think it is 6% of the value.


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