Rajesh (xyz) 18 May 2013

Stamp duty rate on mortgage by deposit of title deeds

Dear all,

In my opinion the applicable rate of stamp duty on mortgage by deposit by title deeds in Delhi is as per clause 6 (1) of schedule 1-A.

Can someone confirm this and the latest rate for the same.

Thanks and Regards

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4 Replies

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 18 May 2013

0.5 percent of the amount

secured by such deed, subject

to a maximum of fifty thousand

rupees.

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Rajiv Bhatnagar (Partner) 18 May 2013

Agreed with Rama Chary Cell

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Rajesh (xyz) 19 May 2013

Dear Sir,

Thanks for your reply.

I would really appreciate if you could clarify whether a Letter Evidencing Deposit of Title Deeds/ Memorandum of Entry executed by banks on creation of equitable mortgage is an instrument under the stamp act and whether the the same rates are applicable to the same.

I am in confusion because i have read this high rate of duty in the stamp act but NONE of the banks seem to be following it.