Stamp Duty payable on Sale Agreement

Q: Hi,
Most of the owners who have booked their flat in smondo-3 would have receied mail/call to pay the stamp duty of 20000 thousand. My friend who had taken an apartment in another property paid only 500 rs, I am wondering is it a must to pay the complete stamp duty charges of 20k now, or can we push it till we do the final registration.

Thanks
Kamlesh

Kamlesh Lakshmanan, Apartment Resident

6th February 2011

Patel Neotown Smondo 3, Electronic City Phase I, Bangalore

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Replies (4)

How much is the stamp duty on agreement sale of movable property? Is it increased, any idea?

Vinu S,

12th April 2016

Comment

Yes Vinu it has increased, Stamp duty on agreement sale of movable property increased from 2% to 3%.

Dhiraj,

12th April 2016

How much is the stamp duty and registration charges in Bangalore?

abhyudaya.s, Bangalore

23rd June 2015

Comment

The buyers have to pay 5.6 per cent stamp duty in urban areas and 5.65 per cent in rural areas as the surcharge in such areas is 3 per cent. The registration charges is 1 per cent of the total or registered property value.

Gajendra V, Bangalore

23rd June 2015

How to calculate stamp duty and registration charges?

abhyudaya.s, Bangalore

24th June 2015

In Bangalore, there are different classification of buildings based on which the parameters used to calculate the stamp duty and registration charges also differ.

In case of multi-storeyed apartments, the super built up area is used for calculating the stamp duty and registration charges. For plots, the square feet area of the plot is multiplied by the guideline value of the area, and in case of independent houses, the total constructed area is considered for calculating the total property value.

Rakesh, Bangalore

24th June 2015

Due to a mistake while printing the gazette notification dated March 31, 2010 amending the Karnataka Stamp Act, wherein the stamp duty on the sale agreement is wrongly mentioned as one per cent instead of 0.1 per cent

Read here:-
http://www.deccanherald.com/content/66841/stamp-duty-paid-excess-refunded.html

http://www.saralvat.com/articles/karnataka-budget2010.php

Rahul,

23rd February 2011

Comment

Hi,
Last year April state government of Karnataka introduced "Karnataka Stamp Act, 1957" and as per that the Stamp Duty is payable on Sale Agreement (without possession) is 1% on the market value equal to the amount of consideration subject to a maximum of Rs.20,000/-. Sale agreement will be executed on this stamp paper (franking amount) and the same would be adjusted from the actual “ stamp duty & registration charges” at the time of apartment registration.
Regards
Royam

Royam Prasanna , Apartment Resident

15th February 2011

Comment