Registration cost saving on resale property purchase
09-Feb-2023 (In Property Law)
Hi,
I and my wife together are buying a resale property in Bangalore. Its a 3BHK flat in a township project in East Bangalore with sale price around 1Cr.
The seller has got the flat registration done in Sep'2020.
When I checked online, its seems currently I need pay the following amount during property registration:
1. Stamp Duty : 6.5% (6.5 Lacs for 1Cr sale price)
2. Registration Charges : 1% (approx 1 Lac for 1Cr Sale Price)
3. Processing Fee : 0.5% (approx 50K for 1Cr Sale Price)
Total : Approx 8Lacs
The seller got the registration and stamping done few months back at a much lower price than what I have to pay now.
Is there any way to bring down the cost of registration and stamping ?
Adding few more info if that helps in my case:
1. Woman buyer involved
2. First home for self occupancy
3. Bank loan being availed the home purchase
4. Builder handover of property was done approx 2 years back. 2 year old property.
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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