Latest Answer: Right Hitesh........the Urban Development Department has finally cleared the proposal yesterday to increase stamp duty by 1% in Metro Rail corridor. The corridor is the area lying within 500 metres on both sides of the Metro track. The duty will now be 7.5% instead of 6.5%. The 1% registration charge (maximum Rs.30000) will remain unchanged. The stamp duty in the city except the area under Metro corridor will remain at 6.5%.
Latest Answer: Not required to execute any deed or document for creation of mortgage by deposit of title deeds. The Bank generally ask for declaration of director for the creation of the mortgage. In loan agreement it is not required to mention that how the mortgage will be created. If you mention in loan agreement that the mortgage will be created on immoveable property to secure the laon amount than it is sufficient.
Q:I have purchased flat from Paranjpe Schemes in 2010. Registration,stamp duty paid agreement to sale was completed in 2010 itself. Now for conveyance deed in July 2013 they are asking to pay 1% of value as stampduty in lieu of LBT . Is this legal?
Latest Answer: As on date 27/07/2013 Work is going on in full swing in both Phase I And II. For Exotica A/B Wing First Floor is almost ready. C/D/E basement Third floor work is going on. For Building 4 Work is almost reach to Plinth level. SRA work is fully stopped. Internal road work ( Conctrate ) is going on in Phase I.
Q:If we do the register lease agreement for 30 years and lets assume average monthly rental is Rs 10 Lakhs. How much will be the stamp duty attracted in this case?
Also how to calculate stamp duty on agreements which work on revenue sharing model?
Regards