HI, It is mandatory to pay stamp duty as per the stamp duty valuation fixed by the Registrar of your area under the stamp duty act of your state. Currently, Stamp Duty in Orrisa is 7% and Registration Charges are over & above Stamp Duty and is levied @ 1% of Total Property Value as per sale deed.
Hi Sasmita, Stamp duty is payable on market value or agreement value whichever is higher. Stamp duty must be paid at the time of execution of the agreement. Penalty for late payment of the stamp duty is 2% per month on deficit stamp duty amount, subject to maximum two times of the deficit stamp duty amount.
Current rate of Stamp Duty is 7% and Registration fees is 1 % of the market value or agreement value whichever is higher. There is also VAT (Sales Tax) applicable at 1% of agreement.
My builder is asking me for cash payment for apartment registration. Though he has mentioned actual amount of the flat/apartment. Someone told me in odisha we can not pay registration fee by chq. Is it true?