Lease stamp duty calculation
AAK
(Querist) 13 August 2013
This query is : Resolved
Dear Experts.. need your support
Query is
The lease deed needs to be registered in Karnataka.
1] The lease tenure is 9 years.
2] The monthly rent is Rs.38400/-
3] Security Deposit is Rs.3,84,000/-
4] Escalation at 15% on every 3 years
can any one please let me know the exact stamp duty needs to be paid on the instrument?
prabhakar singh
(Expert) 13 August 2013
The value of the deed would be:
For first 3 years:(38400*12*3)+
For next 3 years:(44160*12*3)+
For last 3 years:(50784*12*3+
Security Deposit is Rs.3,84,000/-
=13,82,400+15,89,760+18,28,224+3,84,000
=Rs 51,84,384/=00
And as the lease is for above 10 but below 20 years the duty would be two rupees for every one hundred rupees or part thereof on the total amount or value of; the average annual rent, premium, fine and money advanced.
