Ready Reckoner :: Stamp Duty

COMPARISON CHART OF STAMP DUTY ON LEAVE AND LICENSE AGREEMENTS IN MAHARASHTRA
Effective from 7th May 2005


Duration 12 Months 24 Months 30 Months 48 Months 60 Months
Annual rent plus deposit or money advanced or to be advanced Resi. Comm. Resi. Comm. Resi. Comm. Resi. Comm. Resi. Comm.
Less than or equal to Rs. 2,50,000 750/- 1,500/- 1,500/- 3,000/- 2,250/- 4,500/- 3,000/- 6,000/- 3,750/- 7,500/-
Above Rs.2,50,000 and less than or equal to Rs.5,00,000 1,500/- 3,000/- 3,000/- 6,000/- 4,500/- 9,000/- 6,000/- 12,000/- 7,500/- 15,000/-
Above Rs.5,00,000 and less than or equal to Rs.10,00,000 3,000/- 6,000/- 6,000/- 12,000/- 9,000/- 18,000/- 12,000/- 24,000/- 15,000/- 30,000/-
Rs. 10,00,000 and above 5,000/- 10,000/- 10,000/- 12,000/- 15,000/- 30,000/- 20,000/- 40,000/- 25,000/- 50,000/-


STAMP DUTY FOR SALE DEEDS
Stamp duty and registration values for properties in various cities and states in India are given below.


STATE RATE OF STAMP DUTY REMARKS
Andhra Pradesh
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5% Of the market value or agreement value whichever is higher.
Assam 8.25% For agreement value exceeding Rs.1,50,000/-.
Union Territory of Delhi 3% stamp duty + additional 5% as surcharge under Delhi Municipal Corporate Act, 1957. Of the value.
  6% Of the value. If the Property is registered in women's name
Goa 8% For value more than Rs.1,000/-
Gujarat
  1. For transfers other than in co-operative society in urban area.
  2. For transfer relating to premises in Co-operative Society registered or deemed to have been registered under Gujarat Co-operative Society Act, 1961.


10%


7.5%




On market value of Property.


On market value of Property.
Haryana 12.5% Value exceeding Rs.1,000/-
Himachal Pradesh 8% Value exceeding Rs.1,000/-
Karnataka
  1. For transfer other than in (ii)
  2. For transfer effected by Bangalore Development Authority Act, 1976, relating to a flat as defined in Karnataka Ownership Flat Act, 1972.

10.5%

  1. value upto Rs.5.00 Lakhs – 4%
  2. more than Rs.5.00 Lakhs and upto Rs.15.00 Lakhs – Rs.20,000/- + 6% for amount in excess of Rs.5.00 Lakhs.
  3. More than Rs.15.00 Lakhs – Rs.80,000/- + 8% for amount in excess of Rs.15.00 Lakhs.


On the market value of property exceeding Rs.1,000/-.


On market value.
Kerala
(Property situated within Municipal Corporation)
8.5% value of consideration.
Madhya Pradesh 7.5% Of the market value.
Manipur 7% On market value of property or the agreement value whichever is higher.
Maharashtra
within Municipal limits of Greater Mumbai,Navi Mumbai, Pune & Thane.
  1. for transfer other than in (b)
  2. if relating premises registered under Maharashtra Co-operative Societies Act, 1960, or the Maharashtra Ownership Flat Act, 1963, or the Maharashtra Apartment Ownership Act, 1970.




  1. Up to Rs.5.00 Lakhs - Rs.8,750/-
  2. Above Rs.5.00 Lakhs - 5%
On the market value or the agreement value whichever is higher.
Meghalaya
  1. upto Rs.50,000/- - 4.6 %
  2. more than Rs.50,000/- and upto Rs.90,000/- - 6 %
  3. more than Rs.90,000/- and upto Rs.1,50,000/- - 8%
  4. more than Rs.1,50,000/- - 9.9%
Of agreement value.
Nagaland 7.5% Of the value.
Orissa 14.7% Of agreement Value.
Punjab 6% Of the value.
Rajasthan 10% Of market value of property.
Tamil Nadu 8% Of market value.
Tripura 5% Of the value.
Uttar Pradesh Stamp duty 14.5 % under U.P. Town Improvement Act, 1919. Stamp duty on market value or the agreement value whichever is greater.
West Bengal 7% Of the market value.


*(The average of tax incidence in all disputed cases which were resolved as per Circular No. AC/39/Gen. dated 16.03.02, whichever is higher)
Source:The Economic Times, 18th April 2002