Governments’ sweet decision to reduce the charges on stamp duty will bring smile to both home buyers and developers.
Lets’ get this straight:
- Stamp duty on sale agreement reduced from 0.25% to 0.1% limited to a maximum of Rs 20,000
- Stamp duty on joint development agreements and GPA at 1% of market value limited to a maximum of Rs 1.5 lakh
- Stamp duty on agreements relating to shares, debentures and other marketable securities reduced from Rs 200 to Rs 50 and on note or memos given to brokers, depositors and fixed at 0.01% limited to a maximum of Rs 50
- Stamp duty on DTD reduced from 0.25% to 0.1% limited to a maximum of Rs 50,000
- Amendment to Stamps Act to plug evasion of stamp duty in transfer of apartment or a flat
- Provision for adjustment of duty when property is sold to GPA holders Rationalisation of fee for cancellation of deeds
- Stamp duty on amalgamation and demerger of companies reduced from 5% to 3%
- Levy of stamp duty at 1% on TDR agreements
- Rationalisation in stamp duty on lease and licence of properties for duration of less than 1 year: stamp duty of 0.5% and a maximum of Rs 500 for residential buildings levied. From 1 year to 10 years, 1% on average annual rent and advance; from 10 years to 20 years, 2%; above 20 years and up to 30 yrs
Courtesy: Times Of India.
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Almond Tree project aim to win the customers heart its wonderful project.
Almond Tree is a customised , and iam waiting for my turn.
yeah, the government initiative came at the right time i was planning to invest in one of the properties in Bangalore North, Edifice Almond Tree seemed quite interesting pick from the choosen few, though yet to develop looks good for future as city heading north, also construction at par with the best few.
believe a good choice selecting to invest in Edifice Almond Tree, have been closely watching it since quite a time, rates floating on a higher scale though the area dont stand par presently, but future looks awesome as city heading north.Duple apartment looks better.