Stamp Duty Changes in Hyderabad

Q: I’m looking to buy property in a Hyderabad locality soon. What is the stamp duty that I can expect? Are there any other charges that I should know about?

Krishna Rao, Hyderabad

19th June 2014

Real estate News in Hyderabad

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See, when you are going to buy any kind of property, the first thing you should be doing is verifying the title deed for any discrepancies. The title deed is what needs to be transferred from one owner to another. In this process, the first charge will be the 7 percent stamp duty on the sale agreement, the second charge will be the mandatory 2 percent transfer fee, and third charge will be the o.5 percent registration fee. This present model is applicable under every municipal corporation in the state. So, the total percentage of the transaction that you’d have to end up paying to the Government would come up to 9.5 percent.

Kamala Reddy, Hyderabad

23rd June 2014

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Hi, as you may know, the stamp duty is the taxation amount levied on certain legal documents. When it comes to buying property, you can expect stamp duty on the documents signifying your sale agreement. The stamp duty for Hyderabad was rather high in recent times, due to which the real estate sector had become quite expensive to invest in. However, in recent times around November 2008, the State Government was forced to reduce stamp duty on major transactions. This was due to the Central Government, which provided a large amount of funds to the State Government under the Jawaharlal Nehru National Urban Renewal Mission scheme.

Shiva Kumar, Hyderabad

21st June 2014

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