The physical transfer of ownership is not considered valid in the eyes of the law. To validate such a real estate transaction, the buyer must pay stamp duty, as proof of the purchase has been provided. Stamp duty is therefore the tax paid by the state at the time of the real estate transaction and has the transfer certificate properly kept in court. You will need the stamp permit, your PAN card, proof of administrative identity of all parties, including witnesses, two photographs in passport format, noc, no tax certificate, sales certificate, POA, Pattadar Passbook, etc. The path to buying a home does not stop at the physical possession of the property. If you are planning to buy a house in Chennai, then you should know that the state payment has collected stamp duty and registration fees is an important part of the transaction. Any real estate investment agreement is incomplete […] Registration fee: 1% with a maximum amount of Rs.2000/- for each action. In a letter from the Chief Secretary to the State Government to the Comptroller General of Registration on March 18, he stated that with respect to the development of a large building or apartment complex, the proposed allottee, which intends to acquire the apartment, an agreement for the sale of the UDS of land with the owner (the seller) of the land and a separate construction agreement with the developer of the building. Both agreements are registered in accordance with applicable legislation.
With 4 per cent registration fees and 7 per cent stamp duty, Tamil Nadu has one of the highest registration and stamp fees among Indian states. It is important to register the construction contract at the same time as the sale agreement of the undivided share of the state. A government official stated that, among security transactions, intraday transactions brought in more revenue for stamp duty. There are 3 categories: 1.) Stamp duty remains determined regardless of the value of the transaction or the goods/properties mentioned in the instrument. For z.B. Responsible, copy of excerpts, etc. 2.) Stamp duty depends entirely on the value of the transaction mentioned in the document. For z.B. mortgage, securities debts, etc. 3.) Stamp duty depends either on the value of the transaction mentioned in the document or on the actual value of the market. Jawahar Vadivelu, President. B of the brushing company Navia Markets Limited, stated that the new structure had not only streamlined stamp duty rates, but had also made them uniform in all countries.
On October 29, 2020, the registrar recorded a high total of 20,307 documents from 575 sub-repertory. The sale of stamp duty and registration fees that day brought in Rs 123.35 crores. October was a good month for the department with a gain of 1,096 kronor. In Tamil Nadu, stamp duty for intraday trading (which consists of buying and selling shares on the same trading day) rose from 0.006% to 0.003%, while for the provision of shares, stamp duty rose from 0.006% to 0.015%. The Indian government amended the Indian Stamp Act of 1899 (revised law) in 2019, and the corresponding Stamp Rules in 2019 were notified on December 10, 2019 to introduce a uniform stamp duty for securities transactions in different states. However, it is also stated that there are no barriers to the registration of a separate construction contract, as provided for in the circular of 28 October 2013. Section 21 of the Indian Stamp Act of 1899 states that when an instrument is subject to an equity tax or for a marketable or other guarantee, that levy must be calculated on the value of those stocks or security based on the average price of their value at the time of the activity.