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Tuesday, January 25, 2011 @ 11:13 in Indian Real Estate

How much stamp duty should be paid to register an under construction house?

Question asked by Mr Raffic from Karnataka, India:
I have acre converted land in rural Karnataka. I am building a house there. It was mortgaged to a bank. Now I repaid half amount and released half from the bank. I want register this half to my elder brother with that under construction house. is this can be registered under gift deed. How much I have to pay stamp duty.
Thanks
Raffic
Vatsala Answers:
Yes, you can gift it now at a nominal rate. An amendment has been made to extend the concessional stamp duty to siblings.
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