Legal Question in Real Estate Law in India

Each state in India has different stamp duty for women and men . Which State the property is located ? Please clarify.........Please check Sanjay Kalra and Associates on the internet to know more about your query and the legal services we are rendering for our clients from all over the World.

yes you need to .. its better to make a gift deed and transfer the property...

with regards

uttam

[email protected]

05.02.2013

Dear Sir / Madam,

(Cyberabad / Madhapur, Hyderabad, Andhra Pradesh)

Stamp duty is charged on the instruments used in the transfer of property � that is, on the conveyance documents that transfer ownership of the property. In general, the only factor affecting the amount of stamp duty is the value of the property.

Stamp duty applies to residential property such as houses or apartments. It is also payable on non-residential property, that is, land or housing sites without residential buildings - see 'Rates' below. If your agreement to buy a site is linked to a construction contract, stamp duty may be payable on the full amount of the site plus the construction contract.

Transfers between spouses, civil partners and cohabitants

In general, the following transactions are exempt from stamp duty:

All transfers/leases of property between spouses and civil partners (unless the transfer is a subsale � a sale carried out within the process of a larger sale)

Property transferred between former spouses/civil partners under a court order, following a divorce or the dissolution of a civil partnership

Property transferred by a cohabitant to his or her cohabitant, on or after 1 January 2011, under a Property Adjustment Order

While the above transactions are in general exempt from stamp duty, the exemption does not apply if any other person is a party to the instrument.

The applicable rate of Stamp Duty is -

For Residential property :

Property value Rate

Up to Rs. 10,00,000 1%

Above Rs. 10,00,000 2%

Exceptions

For people buying their homes under local authority tenant purchase and similar schemes, a maximum amount of Rs. 100 is charged.

There is no stamp duty payable on certain transfers between spouses, civil partners and cohabitants � see above.

For Non-residential (Commercial) property :

Since 7 December 2011 there is a single rate of 2% on all non-residential property and the first Rs. 10,000 is no longer exempt from Stamp duty.

Regards,

FCA Prashant Chavan

Mumbai

(You can also mail me for any further on-line advice at [email protected])

Yes, stamp duty is payable. One needs to see the wordings of the documents and the location of property before specifying the Stamp Duty payable.

As prescribed by concerned stamp laws.