Stamp duty
Gurgaon introduces registering property with e-stamping facility. E-stamping and on-line registering is already practised in Delhi. Land registration is described as matters concerning ownership, possession or other rights of land and kept as records. The state Government of Haryana has requested to make provision for regular issuance of stamp papers from treasury and bank. It [...] Continue Reading »
With the increasing property deals of high value in the state, it has been forecasted that the stamp duty collection is also going to boost up. As per Inspector General of Registration and Controller of Stamps, revenue generated from stamp duty will be around Rs 2000 crore in the financial year 2012-13. However, the property [...] Continue Reading »
A bad news is in store for tenants and owners of flats in Mumbai! Stamp duty is going to be dearer for flats in the city after the recent announcement of budget by state finance minister on 20th of March. The hike in stamp duty will be applied for both rentals as well as leave-and-licence [...] Continue Reading »
Paying stamp duty on property transactions is going to be easier now. The task of going around multiple offices will be eased very soon. To make the stamp duty collection system easy, Maharashtra cabinet has approved a new model under which authorized banks will collect stamp payments. With this the whole system will be secured against [...] Continue Reading »
Pune- A special drive launched by the state government last month to issue deemed conveyance for the housing societies has got poor response as the drive is plagued with innumerable problems from calculation of the stamp duty to the lack of awareness among the owners regarding the importance of society formation. Every society requires deemed conveyance [...] Continue Reading »
Citibank, the leading foreign bank had put a flat for sale in 2008 in Malabar Hill‘s IL Palazzo building and Vinod Khanna, bollywood actor was the highest bidder with a record bid of Rs 1.20 lakh a sq ft for the 2,550 sq ft flat. But the actor did not go through the flat at that time. [...] Continue Reading »
Slowdown in the real estate sector has badly affected Punjab’s revenue collection from stamp duty and registration fee. There has been a decline of 15 per cent in receipts, compared to the same period in the previous financial year. Property dealers have been badly affected due to the slowdown of market as deals have decreased. [...] Continue Reading »
After circle rates were increased in Noida by 10 to 20 per cent, the administration has announced another rate revision of 10- 25 per cent. Circle rate is the minimum rate at which a property can be bought or sold, which is being decided by the government authorities. The authorities maintained that the hike was [...] Continue Reading »
Each beneficiary of Pimpri Chinchwad Municipal Corporation’s housing scheme for economically weaker sections (EWS) will save Rs 36,000 as the state government has waived the stamp duty on conveyance. Now that the stamp duty on registration of EWS houses built under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) scheme has been waived, the beneficiaries [...] Continue Reading »
Even though the real estate sector has not been doing very well, the Andhra Pradesh government is planning to revise the market values of agricultural and urban lands from August 1. The move is taken to increase the revenue to the department of Registration and Stamps by raising the registration fee and stamp duty, which will [...] Continue Reading »
