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Is there new law of 2% increase in registration in Uttar Pradesh
14-Sep-2023 (In Property Law)
I have sanctioned home loan for purchase a flat. Initially provisional agreement to sale has been executed. Now builder want to execute registered sale to agreement as per new law. My query in this regard, it's necessary to execute registered agreement to sale with 2% stamp duty, as applicable in Uttar Pradeah. The builder also told us at the time of actual sale agreement will be proceed, less stamp duty will be paid at that time I. E. Actual minus 2%. Is the implimentation of such increase in price directed by law?
Stamp duty is sine qua non for registration. Stamp papers have different stamp values and each type of document or deed has to be executed on a stamp paper of a stipulated value. This value is based on the type of deed or document, location (within the State of Uttar Pradesh) and/or value of the transaction/property, and must be stamped accurately to make the said document legally valid and enforceable in a court of law.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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