Real Estate Forum on Stamp Duty In Indore

Latest Answer: Indore, the land of food, culture, modesty, charm and outright hospitality is a place which feels like the home. Indore has very rich roots & with the time, has become one of the most livable city in India.Though Indore being a TIER-II city it has it all right from Education, Technology, Research, Art, Fashion, Media, Finance, Commerce & Entertainment, the city has got it all covered.Prospective growth of the IT sector has fuelled the growth of residential real estate in the city. The residential property Flats in Indore is in boom for its facility of 2BHK, 3BHK, 4BHK flats at supercorridor indore in DCNPL hills vista.

Latest Answer: Hi Aashish, You have to pay 8% as stamp duty and 1% as registration charges.

Latest Answer: Hi Rumit, For any sale to attract VAT, it should involve transfer of goods from one person to another. In case of under-construction properties, its the transfer of ownership rights from the developer to buyer in the form of a sale agreement, in select states. This tax is governed under the ‘works contract’ in the VAT law. For instance, VAT is charged at the rate of 1% of agreement value in Mumbai and Pune and 5% in Bangalore, but there is no VAT levied for apartments purchased in Noida-NCR, Chennai, and Kolkata.

Latest Answer: Hey, the stamp duty is 7.5% of the market value of the property. The market value of the property is not the actual value at which it is being sold to you. The market value is calculated by following a set of guidelines, which are available with sub-registrar. You can find out the same by visiting the sub-registrar’s office under whose jurisdiction the property falls. The registration fee is to be paid at the same sub-registrar’s office when you are registering the final documents like sale deed. The amount is 0.8% of the market value of property. You can’t register your property papers without paying the stamp duty first.