Recently, Maharashtra State Government circulate new circular, which aims to increase the stamp duty revenue with the help of change in method of calculation of depreciation in old residential as well as commercial building and it has caused a flutter in the real estate industry of Mumbai. As per the statement of legal experts, The […]
stamp duty Archive
March 31, 2015 9:00 am
In Maharashtra, now you can transfer, land, flat or land without paying stamp duty for registration
All the immovable properties such as; land, house or flat can now be transferred to blood relatives or children’s without any stamp duty on registration. It is expected that this will be the major relief for millions of families who are living in Maharashtra, as now onwards they don’t have to pay 5% of the […]
September 5, 2014 12:49 am
Buying a flat or shop near Metro or Monorail?
Are you planning to buy a new flat near Metro line, Monorail line or any other major infrastructure project in Mumbai? If yes, then be ready to cough up an additional 10 % additional development tax on property transactions in such areas. The residential and commercial properties could get costlier as the state government is […]
September 3, 2014 3:51 am
Payment of stamp duty is no guarantee your property is legal
There is a great misconception among the home buyers that once a certain percentage of the cost of the apartment as stamp duty is paid and the flat got registered with the revenue department of the state government, they believe that their property has got all legal/requisite approvals. But this is plain nonsense. Take for […]
August 21, 2014 4:08 am
1 percent LBT on property abolished
A government notification issued by Inspector General of Registration on LBT has ended all confusions over payment of one per cent Local Body Tax (LBT) by property buyers as stamp duty. The State government had increased stamp duty from April 1, 2013. As per the notification, property buyers, whose sale agreements are registered before April […]
May 10, 2014 8:48 am
How much you know about stamp duty?
One of the most important financial decisions you will take in your life is purchasing a house and paying stamp duty is very common practice in purchase dealings. A buyer is responsible for the stamp duty. Always make sure that, in any case, stamp duty should not be bought in the name of a party/person […]