ss_india2001 (TA) 31 January 2011

Stamp duty for resale in karnataka

Hi,

I am purchasing an apartment from a vendor who has a sale and construction agreement with the builder. He hasn't done registration. I am doing an assignment agreement with the vendor and then sale deed with the builder.

In the agreement between vendor and builder, the sale cost of the apartment was 10L and construction cost was 20L. Total cost was 30L. My purchase price is 40L. The current guidance value of the property is 13L. Should I be paying the stamp duty of 7.7% on the 40L. Or I should be paying 7.7% on 13L.

Thanks

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3 Replies

adv. rajeev ( rajoo ) (practicing advocate) 31 January 2011

As per the karanataka stamp act you will have to pay

suresh (Advocate) 31 January 2011

hi,

That is your choice you can for 40 lakhs or 13 lakhs, provided you should not pay the stamp duty below the guide line value as stipulated under the guideline.

regards

Suresh.N.V.

ss_india2001 (TA) 31 January 2011

Hi Suresh,

In case of paying registration on guidance value 13L, wont it be a problem when registrar asks for assignment agreement which mentions 40L as the sale amount.

thanks

sachin