
Everything you Need to Know About Stamp Duty on Property

Stamp duty is a government-imposed direct tax. It is due on all documented financial transactions under Section 3 of the Indian Stamp Act of 1899.

[{"selector":"#anim-55306e98-76cd-4851-a340-2e02a3f3898c","keyframes":{"transform":["translate3d(-104.14508%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-de8aef4e-794a-4772-9f6f-377be49c9d89","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c17e69a1-fdf9-4909-a307-c9c84db54f3c","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Stamp duty on the property is paid before the completion of the transaction. It is advisable to pay the stamp duty in full and on time to avoid any penalty.

[{"selector":"#anim-dde0a376-1e21-4afb-a69b-6c52e738c6fe","keyframes":{"transform":["translate3d(102.59067%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2471a8fe-ca6d-4d32-8a81-611640116b59","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f43ece8d-9fd6-47dd-8800-8a76c567f632","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Stamp duty is therefore payable when registering mortgage deeds, exchange deeds, gift deeds, lease deeds, Power of Attorney (PoA) agreements, agreements for sale, and sale deeds.

[{"selector":"#anim-7602aea2-6a70-4d4f-a066-115baeefdcc5","keyframes":{"transform":["translate3d(-104.14508%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-42395532-116c-48fb-82fa-8c79d07666fd","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5f9e6bdd-ae87-4fe7-8bc3-a7be50fede84","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

How do we calculate stamp duty?

[{"selector":"#anim-2ecc864b-6405-4341-8b91-8cd3d2642e65","keyframes":{"transform":["translate3d(102.59067%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e74b486b-12e1-4c82-9f5a-d6eac9294573","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-38b7c341-5ef9-4b5f-92c7-476bcd457747","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] During a sale agreement, the stamp duty is tagged at 0.1% of the property's market value, and it is borne by the new buyer. The buyer must pay Rs. 500 in stamp duty. A stamp duty of 0.1% is collected for a loan agreement in Karnataka, as per Article 6 of the Karnataka Stamp Act.

– Stamp duty in Delhi- 4% to 6% – Stamp duty in Ahmedabad- 4.90% – Stamp duty in Hyderabad- 4% – Stamp duty in Mumbai- 5%

[{"selector":"#anim-7fef93d0-beb9-44cc-aa0e-8b94e1ae9067","keyframes":{"transform":["translate3d(-105.18135%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7dc8e586-d95e-4253-87c2-449882feb9fd","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5674823a-e28f-4a3f-aa91-9e9d4b0b36d3","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Conclusion:

[{"selector":"#anim-17839c2e-b08d-4682-a1dc-677a82c931d3","keyframes":{"transform":["translate3d(101.55440%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-13a9818b-84ca-419a-97b1-10790d68b287","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-16f78f6e-aa4e-416e-97c8-ec45f02b296d","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-8cbb5497-f4d0-47d1-8e7d-6f4f35b1d484","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-812b03ee-f1f6-4e3a-8377-fb60716eac5a","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] As law-abiding citizens of India, you should adhere to the policies/regulations laid out by the government and contribute to the economic activities of our nation.

www.omaxe.com

[{"selector":"#anim-9a76894b-8cf2-419f-9cea-442748d68bf7","keyframes":{"transform":["scale(1)","scale(1.5)","scale(0.95)","scale(1)"],"offset":[0,0.33,0.66,1]},"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}]