Legal Question in Banking Law in India

Dear Members,

I have purchased a property from AllahabadBank(M.P) under Sarfeasei act 2002.I just wanted to know whether we can get exemptions from stampduty and registration duty .

We have been issued sale certificate from bank


Asked on 11/16/09, 6:03 am

2 Answers from Attorneys
Seshadri Srinivasan www.lawconcern.com

No stamp duty exemption is available.

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Answered on 11/16/09, 9:35 am
J. Radhakrishnan independent Practice

Please check up the State in which the Sale Certificate is issued. If under the State Stamp Act there is exemption or no duty provided under that Article, no stamp duty need be paid. No Registration is also necessary. But the Authorized officer of t he Bank should stand copy of the Sale certificate t o the concerned Registrar office to be noted in Book No.1.

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Answered on 11/16/09, 10:24 am


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