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Real Estate Forum on Buying property in Bhagwan Nagar, Nagpur

Real Estate Property Discussion Forum and Guide to Real Estate Queries in Bhagwan Nagar, Nagpur

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Q: what is the percentage of VAT , stamp duty, service tax in 12.36%?
Latest Answer: Good evening Hitesh and Meghna!!! The decision to hike stamp duty is very important for Nagpur Metro Rail Corporation Limited (NMRCL) as it will get half the revenue generated by levy of the 1% surcharge. The remaining 50% will go to Nagpur Municipal Corporation (NMC) or Nagpur Improvement Trust (NIT) depending on whose land the property lies. And secondly, this revenue will help NMRCL in repaying the 500 million Euro loan it has taken from German government agency KfW and the under consideration 130 million Euro loan from Agence Francaise de Developpement (AFD), a French institution.
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