Stamp duty on registrations to go up

A delay in payment of stamp duty after property registration will now result in the state imposing a fourfold fine on the defaulter instead of the previous twofold. Experts in registration matters said people may face a certain rise in stamp duty on property registrations, sale deeds and other agreements as the government had changed the method of calculation of stamp duty.

"Instead of calculating in parts of some thousands, the stamp duty will be charged at a percentage of the total value of that property as per the new amendment," a veteran in the sector said.

The stamp duty of Rs 100 on certain transactions such as undertakings, agreements or administration bonds is to be increased to Rs 500 on each transaction. In this season of increase in costs, the relief is that now transfer of property to a blood relation will attract a very nominal stamp duty.

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