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What is the Stamp Duty to be paid on sale of property
14-Sep-2023 (In Property Law)
Want to sell a property in AECS layout, Kundalahalli The property will sell for less than circle rate What are the stamp paper implications in this case
Residential property
A simplified stamp duty system was introduced on 8 December 2010 - see Rates below. Before that date there was a complex system of exemptions and reliefs for stamp duty on residential property. These earlier rules are summarised in Further information below.
“Residential property” includes houses and apartments. It also includes sites with agreement to build.
If you buy a site in connection with (or as part of) an arrangement to build a house or apartment on it, then stamp duty will be charged at the residential property rate on the total of the site cost and the building cost
If you buy a site with no connected arrangement to build a house or apartment on it, then stamp duty will be charged on the site cost at the non-residential property rate
A simplified stamp duty system was introduced on 8 December 2010 - see Rates below. Before that date there was a complex system of exemptions and reliefs for stamp duty on residential property. These earlier rules are summarised in Further information below.
“Residential property” includes houses and apartments. It also includes sites with agreement to build.
If you buy a site in connection with (or as part of) an arrangement to build a house or apartment on it, then stamp duty will be charged at the residential property rate on the total of the site cost and the building cost
If you buy a site with no connected arrangement to build a house or apartment on it, then stamp duty will be charged on the site cost at the non-residential property rate
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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