Legal Question in Banking Law in India
I have bought an Property from Bank auction, under SARFAESI, i have 2 questions:
1) At what rate would the stamp duty be calculated Current Circle Rate or Auction Value for Registration.
2) The Sale Certificate is issued in my name, and I have not completed Registration, now I am selling it to another person, will the bank get the sale certificate registered in the next persons name. Thanks and regards!
Asked on 9/03/15, 2:23 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
03.09.2015
Dear Sir / Madam,
Stamp Duty is applicable on the Current Circle Rate of Auction Value, whichever is higher. Completion of registration in your name and thereafter selling it to another person, is advisable and recommended.
Regards,
Answered on 9/03/15, 4:20 am
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