MOIZ WANGRELWALA (Finance & Accounts) 18 July 2010
I am purchasing a house on tenancy basis in South Mumbai and I need to pay stamp duty on the tenancy agreement.
I have heard that on tenancy agreements the stamp duty is payable on area of the property taken on tenancy. I need to know the rate at which stamp duty is payable on the same.
Can anybody plz help me?
Thanks,
Moiz W.
Baskaran Kanakasabai (entrepreneur) 18 July 2010
pl. log on to this link and go through the FAQs. You will be able to get sufficient information you need. If you have more queries, you can contact the authoritiy concerned through the same website and get authoritative and uptodate information you need.
Adv Akhtar Ali Sheikh (Property Law Consultant) 25 August 2010
the stamp duty will be 5% on 90% of the market value of the property after deducting the depreciation available which you may get upto 40%. e.g.
Stamp duty = Carpet Area (in Sq. Mtr.) x 1.2 x reckoner rate/sq. mtr. x 1.05 (if higher than 4th floor i.e. 5th floor and up) x 0.9 x (1-Deprciation/100) x 5%
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
