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What is the stamp duty charged on equitable mortgage in banks?
27-Dec-2023 (In Banking / Finance Law)
Sir,pl. Advise the stamp duty to be charged if there are more than one title deed equitable mortgage in a loan account , at what rate stamp duty will be charged.for example in a loan account of rs.50 lac, two title deeds mortgages in the account then what will be the stamp duty.
There is no stamp duty payable for equitable mortgage. However if the bank wish to register the charge over the property in the revenue record, an amount of Rs.3000 will be deposited for recording the same.
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Adv. Nitish Arora
Jalandhar | 25+ Answers
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