Stamp duty is a charge payable on the sale agreement, on or before the date of registration of the agreement. It is one of the most crucial documents as it provides legal status to the property transaction.
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How to calculate stamp duty
Stamp duty is levied only on the total saleable value of the property, which is calculated by first multiplying the size of the property with its guidance value or the market value given by the builder. Then, car parking charges and floor rise, or preferential location charges (PLC) are added to give the total saleable value of the property.
Saleable Value = Basic Cost (Size of property x Guidance Value) + Parking Charges + Floor Rise Premium & Preferential Location Charges (PLC), if any.
How to pay stamp duty?
Stamp duty is a one-time charge paid under Section 3 of the Indian Stamp Duty Act, 1899. It can be paid through: