Sale Agreement Stamp Duty In Chennai

On October 29, 2020, the registration department saw a record registration of 20,307 documents with 575 sub-registrar offices. The sale of stamp and registration duties that day brought Rs 123.35 crores. October was a good month for the department with a salary of Rs 1.096 billion. Suresh Krishn, the president-designate of the Confederation of the Real Developers Association of India (Credai), said Moneycontrol said it was just a clarification. Tamil Nadu follows a dual system of agreements since land and buildings are registered separately in the concession agreement. In May 2020, TN`s registration department clarified that new and ready-to-move homes and buildings should not pay stamp and registration fees. This only applied to the first sale of the property and only the undivided part of the land (UDS) would be subject to stamp duty and registration fees and not to the super built area. The Inspector General of Registration of 11 May issued an order stating: “If a document is presented only for the registration of the (first) sale of unlisted shares of land, the registrars are responsible for not requiring or insisting on the inclusion of the building in the object of sale, and only when the competent authority has issued a certificate of completion of the project.” You need a stamp receipt, your PAN card, government cards from all parties including witnesses, two passport photos, NOC, no contribution certificate, certificate of sale, POA, Pattadar passport booklet, etc. Last August, revenue from stamp duty and registration fees rose to CRO 792.65, UP FROM CRO 786.84 CRO IN THE SAME PERIOD LAST YEAR, according to data from the Registration Department. Whether rural or urban, men or women, there is no distinction in fees, in all chennai. The stamp duty to be paid (7% of the value of the real estate market) and the registration fee (1% of the value of the real estate market) are the same at the registrar/sub-registrar of the jurisdiction in which the property was purchased.

“For the building in which the certificate of completion was obtained, the sub-registrations insist that the deed of transfer or the deed of sale of UDS in land also include the sale of built-up land . . .

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Author: swillans