Royam Prasanna , Apartment Resident
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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

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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 RoyamHi, 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
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