• The value of the contract must be calculated on the basis of the overall needs of the university – a difficult task for each department. The following rules apply: it should also be mentioned that states apply different fees for the registration of the same instruments in India. For this reason, stamp duty on the registration of real estate in India varies from state to state. Home buyers in Delhi pay 6% stamp duty on real estate registration, up from 2% in Mumbai currently. In Jharkhand, accommodation costs are 3% of the value of real estate. While stamp duty is a tax calculated on the basis of transaction value, the registration fee is the cost that users pay for the deposition service of a contract or deed in government records. With simple words, the government keeps a record of documents for a fee. This process confers a high inviolability on documents that would otherwise not be legally binding. In accordance with the Constitution, stamp and registration duties are subdivided into taxes levied on the EU list and on the list of states. Under the Stamps Act, it is open to states to determine stamp duty so that rates reflect the specific policy of that state. In Indian states, stamp duty varies between 3% and 10% of the value of real estate in the states. In Mumbai, India, when I go to buy the apartment, then every broker/seller talks about “flat cost” and “agreement value.” I don`t know what the difference is between them. Registration on behalf of a woman: Some states grant significant discounts on stamp duty for buyers of female real estate.

    So if you are looking to save stamp duty, you can buy the property on behalf of a female family member. If you have chosen several sites for your real estate purchase, you can compare stamp duty on different sites to decide which site offers the lowest value of stamp tax. In addition to real estate values, several other factors also determine the stamp duty that the buyer must pay when registering the sales documents. These include the “contractual value” which is the value indicated in the deed of sale. The home loan is given on this amount. Registration and stamp duty are paid on this amount. If you sell the apartment in the future, the difference between the sale price and the value of the contract is your capital gains. For all intents and purposes, the contractual value is the price you paid to get this apartment. The market value is determined by the annual value of the reporting rate (READY Reckoner, ASR), which is established and published annually on December 31, in accordance with the Maharashtra Stamp Act (59 of 1958) and the Maharashtra Stamp (Determination of True Market Value of Property) Rule of 1995. The assessment of real estate is not only a day of evaluation, but it requires a thorough study and understanding of the subject with relative acts, rule and regulation (notification / bulletin) of the directive and with the latest changes. According to this method, the details of the contract are mentioned in such a document and signed by the executed persons. It must then be registered with the sub-registry within four months.

    In this type of stamp duty payment, the seller must purchase stamp paper for his sales instrument from a licensed seller of an amount equal to the required value if the value of the stamps does not exceed Rs 50,000.

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