Registeration Stamp Duty

REGISTRATION AND STAMP DUTY

REGISTRATION
The registration fees nis 1% (one percent) of the market value which ever is higher, subject to maximum of rs. 30, 000/- -w.E.F. 01.04.2003

PROCESS OF REGISTRATION:

• For registration purpose both the parties (transferor & transferee) has attend the office of registrar/sub-registrar of the zone; & has tosign the registartion endosement on the original document before the registration authority.
• For any reasons both the parties could not attend at a time, the purchaser/transferee can lodge the documents with the registration authority & completer the process. However the other party has attend the office of registrating authority within (4) four months from the date of lodging of such documents, & has to sign the registration endorsement before the registrar/sub registrar.
• It is advisable that both the partiesshould attend registration at-a-time, for convenience of all concerned.

PREPARATION OF DOCUMENT FOR REGISTRATION

• The original agreement/ document must be printed or typed preferably on one side of 90 gsm either on plain or ledger paper.
• Thin butter paper should be provided between two pages, when document is printed or typed on the both the sides of the paper. This service is available at registration office.

CHECK LIST DOCUMENT REQUIRED FOR REGISTRATION:

• Original document + 3 photo / xerox copies.
• Passport, election, card, indentity card or such proof for identification of the parties attending registration.
• Two witnessess.

STAMP DUTY

• The stamp duty is charged & payable on market value as per rates prescribed in ready reckoner published by the govt. From time to time to time or as per agreemnetvalue which ever is higher.
• The amount of stampduty is exclusive of registration fees.
• For commercial & industrial premises i.E. Shop/ industrial unit/ basement the rates of stampduty is 5% (five percent) of the market value or agreement value which ever is higher.