How To Calculate Stamp Duty And Registration Amount Payable On A Property?
Question asked by Mr. Vishal Dalmia from Bangalore:
Hi, I have booked a 2BHK flat and measuring 1296 SQ FT (super built up) in Bangalore (Karnataka) on Bannerghatta Road near Meenakshi Temple. Possession for the flat is due in DEC this year. Can you please let me know on Stamp Duty and Registration amount payable on the property and how it is calculated? Other details of the flat are as below.
Apartment Value = 1296 * 2775 Rs = 35,96,400/-
Parking = 2,00,000/-
Club Membership = 50,000/-
Electricity/Water = 1296 * 135 Rs = 1,74,960/-
Total = 40,21,360/-
Above Rs 40,21,360 has been split up as below with respect to Agreement
Sale Agreement Value = 12,06,408/-
Construction Agreement Value = 28,14,952/-
Apart from this I need to pay following amount during possession time
Maintenance for 3 years = 1296 * 80 Rs = 1,03,680/-
Legal Charges = 20,000/-
Thanks and Regards
Vishal R Dalmia
Apartment Value = 1296 * 2775 Rs = 35,96,400/-
Parking = 2,00,000/-
Club Membership = 50,000/-
Electricity/Water = 1296 * 135 Rs = 1,74,960/-
Total = 40,21,360/-
Above Rs 40,21,360 has been split up as below with respect to Agreement
Sale Agreement Value = 12,06,408/-
Construction Agreement Value = 28,14,952/-
Apart from this I need to pay following amount during possession time
Maintenance for 3 years = 1296 * 80 Rs = 1,03,680/-
Legal Charges = 20,000/-
Thanks and Regards
Vishal R Dalmia
Vatsala Answers:
You are required to pay approximately 8.5% (this could vary by a few decimal points depending on where the property is situated) as stamp duty and 1% as registration amount on the value of flat shown in the sale deed. The value should not go below (but can go above) the guide line value revised periodically by the government. This amount need not include the maintenance charge, legal charge, club membership, electricity and water meter charges, etc. Some builders get the sale deed registered for the minimum guide line value and other show the full consideration received. The exact location of the building is required to be ascertained to determine the guideline value. Vatsala
http://www.atoneplace.com
Popularity: 100% [?]
Comments: 1 | Continue reading...
Tell A Friend