Stamp duty will not be paid by Housing Loan
Through a notification, Reserve Bank of India asked all the commercial banks in India to exclude the stamp duty and registration charges from the evaluation of the value of any property.
So from now onwards the stamp duty amount needs to be paid by the buyers. Banks will not add the amount in the home loan.
The stamp duty amount normally ranged in 7% to 10% of the total property cost.
According to real estate analyst this decision will effect the buyers in taking the buying decision as they have to spend more liquid money in taking possession of their apartments.
The builders are worried about reduction of sells for the small and mid sized apartments.
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Source Livemint
Apartments price, buying apartments, home loan, Home loans in India, property cost, Property registration, Reserve Bank of India, small and mid sized apartments, Stamp duty, value of property
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[...] Stamp duty will not be paid by Housing Loan [...]
[...] Stamp duty will not be paid by Housing Loan [...]