Stamp Duty process:
Register the Land for Sale in Salem:
Stamp duty is one of the type of that should be predictably
be paid on some tool related to property business deal in India. If the buyer
is avoid paying the tax that will create big issue to the buyer. British
introduced in Indian stamp act in 1899. It is very relevant and compulsory
through with amendment departments made various durations.
Central and state governments charge the stamp duty for
business deal that came under their purview. The government of central fixes
the duty of stamp for Bills exchange, cheque, promissory Notes, landing Bill,
letter credit, insurance policies, sharing transfer, debentures and receipts.
And the state government charges the stamp duty for gift deed, Sale deed, Mortgage
and Lease deeds, License, settlement and deed of partition.
Unfortunately, the stamp duty percentage is approximately
not similar in all over the state of India. All the state government has
separate own stamp duty rule and consequently, before that the buyer getting
involved into transaction, the buyer should be check everything is very well
and fine the stamp duty rate suitable to your property described above all are
come under state government rule’s. Stamp duty is not for the transaction and
it will be for you land for Sale in Salem.
It should be noted one that material cannot be registered to
the relevant stamp duty paid and without the material registered has no
evidentiary charge for the purpose of authorized resource. The Tamilnadu
government has brought the major charge to duty of stamp and the process of
various amendments.
Actually the stamp duty was determined at the percentage of
6 for all the selling transactions. The stamp duty was levy on Undivided Share
property. If the built area is equal to 10 apartments cover 5000 sq ft, the UDS
for all the building will be 500 sq ft. The developer entered in to separate
construction agreement when the sale deed for the UDS was registered. This
should be providing the loop outlet for the developers to avoid the stamp duty
for the built up area.
