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does a person have to pay different stamp duty for a flat on a higher floor as compared to the lower floors?
Q: does a person have to pay different stamp duty for a flat on a higher floor as compared to the lower floors? (for eg a person staying on the 2nd floor has to pay less stamp duty as compared to a person stayig on the 10th floor?) or is there any difference in market value of the flats in the same building ?( for eg different market value for a flat on the 2nd floor as compared to the 10th floor?)
Hi Shubham, As per, PLC (Preferential Location Charges), prime locations are front park, pool facing, rear park facing, road facing and corner facing. The rate for a house may vary according to these and are billed under preferential location charges (PLC). In Maharashtra, a buyer of upper floor has to pay more than the lower floor. And stamp duty and registrations are charged on total property cost. So higher the flat cost higher the stamp duty.
Yes, i am agree with Sunil. In Maharashtra, people pay higher PLCs to stay on the top floor while in Delhi pay higher PLCs for apartments in the ground floor. A PLC is an additional cost that a buyer pays, for choosing a better location in an apartment complex. PLC is charged on a per sq ft basis, on the super built-up area of the apartment. Typically, each floor has a different PLC.