Stamp Duty and Registration at the time of property purchase!

By sheetalchhabra | July 28, 2014

Stamp Duty

Most people buy a property at a certain stage of their lives. Apart from all hassles of searching for a property, applying for a Home Loan etc., there are other few things (like Stamp Duty and Registration charges) that are unclear to most of the buyers. It is important for the readers to know that while transferring ownership of property, a buyer needs to pay taxes in the form of Stamp Duty and Registration charges to their respective state government. These charges, however, vary from state to state. Some states collect different stamp duty from their rural and urban areas, whereas few other states provide discounts to female buyers of the property. Let us understand how the whole process of stamp duty and registration of property works.

Stamp Duty:

Stamp Duty is a tax levied for the transaction performed by way of a document like Sale Deed, Conveyance Deed etc. Technically, a Stamp Duty is paid for any Document or Instrument by which any right or liability is, or intends to be, created, transferred, limited, extended, extinguished or recorded. The stamp duty relating to immovable properties has to be paid on documents like Conveyance Deed, Sale Deed, Gift Deed, Partition Deed, Power of attorney etc.

The payment of proper Stamp duty on the above mentioned documents confers legality on them. Such instruments get evidentiary value and can be admitted as an evidence in Court of law. The instruments that are not properly stamped are not admitted as evidence. Without the payment of this stamp duty, your solicitor will not be able to officially register your new house in your name, even when the house is transferred within the family.

How a Stamp Duty is calculated?
In India, different states have their own criteria for calculating Stamp Duty. And most of the times, it depends on the document type that needs to be stamped. For example: In Maharashtra, documents are divided into three broad categories for the purpose of Stamp Duty Calculation:

Category (i) Documents wherein the Stamp Duty is “Fixed”
For Ex: Adoption deed, Affidavit, Divorce, Cancellation deed, Entry of Memorandum of Marriage, Indemnity Bond, Letter of license, Notarial Act, Power of attorney, etc.

Category (ii) Wherein Stamp Duty “Varies and depends upon the value mentioned in the document”
For Ex: Agreement relating to deposit of title deeds, pawn, pledge or hypothecation, Clearance List, Lease , Article of association, Mortgage deed, Security Bond, etc.

Category (iii) Wherein Stamp duty “varies and depends on the consideration mentioned in the document or True Market Value, whichever is higher”.
For Ex: Conveyance, Agreement for sale, Gift, Exchange, Partnership Deed, Partition, Development Agreement, Transfer, Trust, etc.

Note: The True Market Value is determined as per the provision of the state defined act prevailing in that particular state.

Appropriate time for paying the Stamp Duty:
Generally all the instruments should be stamped before or at the time of execution i.e. stamp duty is to be paid either before execution of the document or on the day of execution of the document.

Methods for paying Stamp Duty:

1. Purchase of Physical Stamp Paper
2. Franking
3. Purchasing E Stamp (through online payment – SCHIL-www.shcilestamp.com)

Details on the way stamp duty should be paid:

1. Purchasing Non-Judicial physical Stamp papers:

This is a conventional method of paying stamp duty wherein you purchase non-judicial stamp papers from any authorized vendor in your area. Once you purchase the stamp paper in the name of one or more of the parties involved in the transaction, after that you can write/ type the details of your agreement/ transaction on that paper. Earlier, stamp papers were easily available but after the “Telgi scam”, it has become slightly difficult to get a stamp paper especially for bigger denominations. However, there are other two convenient methods of paying stamp duty i.e. E-stamping and Franking.

2. E Stamping:

E-Stamping is a computer based application and a secured way of paying Non-Judicial stamp duty to the Government. Stock Holding Corporation of India Limited (SHCIL), a public ltd. company, is the official vendor of e-stamps and the only Central Record Keeping Agency (CRA) for all e-stamps used in the country. Payment of Stamp duty for e-Stamping can be made Online (www.shcilestamp.com ) through NEFT/RTGS or depositing Cash/DD/ Cheque at SHCIL branch office. Once you pay required amount of stamp duty, you will get the e-stamp certificate with a unique certificate number (UIN), stamp duty type, issue date and 6 character alphanumeric string mentioned on it. The benefit of e-stamping is that it is convenient and its authenticity can be verified online using its UID number. However, the drawback is duplicate copy of e-Stamp is not issued.

3. Franking:

It is a process wherein an authorized Bank/ franking agency puts a stamp on your document indicating that the stamp duty has been paid. Before executing the transaction (of buying a property) i.e. before signing on the document, one can approach an authorized Bank/ franking agency and deposit the required stamp duty at their counter. Once the stamp duty is paid, the authorized officer can Frank with special adhesive Stamp by Franking Machine that is intended for stamping such documents.

All the states in India have their own norms for the minimum amount for Franking. For Ex: Franking charges in Bangalore are minimum 0.1% of the agreement value i.e. If you are buying a house, and at the time of registering “Agreement of Sale”, you need to pay minimum 0.1% of the actual sale consideration of the property. If you are buying a property for Rs. 50 lacs, then at the time of “Agreement to Sale”, you need to pay 0.1% of Rs. 50 lacs (Rs.5,000) as a Franking charge. This fee is however, adjusted with the stamp duty at the time of execution of Sale Deed. Now, at the time of execution of sale deed, you can pay 5.5% as stamp duty instead of 5.6% (which is a prevailing stamp duty rate in Bangalore) to adjust the charges already paid during Franking.

Registration of Documents:

Once the stamp duty is paid, the document has to be registered under the Indian Registration Act with the sub-registrar, of the jurisdiction where the property is situated. The basic purpose of registration is to record execution of document i.e. it records the ownership of the property in case of Sale Deed/ any Title Deed execution and until the title deeds in your name are registered or recorded, you are not officially the legal owner of the house.

Registration Fee
The registration fee is paid over and above the stamp duty and vary in different states. The registration fee in Karnataka is fixed at 1% of the value of transaction.

Property Registration Procedure
Following are the requirements/ documents required at the time of registration:

•For registration of a property, both the seller and purchaser need to be present along with their identification documents like Pass Port, Driving License and Pan Card etc.
•The original document printed on one side along with two photocopies of the original; have to be submitted to the registering officer.
•The registration procedure also requires the presence of two witnesses and the payment of the appropriate registration fees.
•Stamp Duty needs to be paid through Collector of Stamps/SDM or a proof of stamp duty needs to be submitted if the stamp duty is already paid
•Payment details for the payment made to the seller needs to be shown
•Khata certificate and tax paid receipt (if required by your state)

Notice of Intimation:

This is specific to the state of Maharashtra and is applicable for those who avail Home Loan for purchase of property and mortgage the “Title Deeds” to any Bank/ NBFC. The filing of notice of intimation came into force from 1st April, 2013. Under the Registration (Maharashtra Amendment) Act, 2010, which amends the Indian Registration Act, 1908, it is now mandatory to inform the state registration office, of mortgage details within 30 days of a mortgage being executed (where the “agreement relating to the Deposit of title deeds” is not executed and registered).

Following is the procedure:
a) In case of Mortgage by way of Deposit of title deed done on 1st April 2013 and thereafter, if an agreement is executed (signed) between the Mortgagor and the Mortgagee, it has to be compulsory registered. The usual time limit for registration is four months from the date of execution.
b) If such agreement is not executed, then the Mortgagor has to file a notice of intimation of such mortgage. This notice should be filed within 30 days from mortgage.
c) When an agreement is executed and registered, then no need of filing of notice of intimation.
d) The non-registration of agreement/non filing of notice of intimation may defeat the legality of the mortgage and cause injury to the interests of parties. Any person who fails to file such notice within the prescribed time limit shall be liable for punishment under section 89C of the Act.
In simple words, the notice of Intimation is a notice given to the Government, by the buyer of a property in case he/ she is mortgaging his/ her property with some Bank/ NBFC. This notice is required to be sent only when an agreement between the Bank and loan applicant has not been registered. The intimation notice should be sent within 30 days of purchasing the property.

The main objective of this amendment is to safeguard the interests of banks and the society. And also with an objective of preventing fraudulent practices like availing loans from multiple banks on same property or disposing of the property which is already mortgaged.

Procedure for filing of the Notices:
The Department of Registration & Stamps, has launched an online application called the “e-Registration Module” for online filing of the said notices. It is available on the Department’s website www.igrmaharashtra.gov.in, using which, the notice of intimation can be prepared and submitted online i.e. without coming to the Office of the Sub-Registrar . The Maharashtra e-Registration and e-Filing Rules 2013 are prescribed for this purposes under section 69 of the Act.

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66 thoughts on “Stamp Duty and Registration at the time of property purchase!

  1. MAHESH RAGHUNANDANAN

    Thanks Sheetal.
    I am gonna purchase a appartment soon. But was finding much difficult to understand Stamp duty and registration charges involved.
    Your documentations is worth understanding it.

    Reply
    1. Kiran CastelinoKiran Castelino

      Hello Mahesh,

      We’re glad we could help!

      Cheers,
      Team BankBazaar

      Reply
  2. amandeep maan

    Hello sir/ma’am
    We have bought a house which was sold by a bank in an auction.we now wanted to get it registered.It’s value is rs 4800000.please tell us the amount required for registree.we will be very grateful to you
    Thankyou

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Amandeep,
      Thanks for writing to us. The registration fee depends on the place where you need to register the property. Every state has its own rules. You will need to check with the registrar’s office where you are getting the property registered, to find out the exact amount.

      Cheers,
      Team BankBazaar

      Reply
      1. Amandeep maan

        Thankyou for the reply.I am staying in jalandhar punjab.I also wanted to know whether registration fee is applicable on a property sold by bank in an auction.please reply.thankyou.

        Reply
        1. Team BankBazaarTeam BankBazaar

          Dear Amandeep,
          Thanks for writing to us. A registration fee is applicable on all property transactions. It doesn’t matter whether it is new or up for resale. Since it is being registered in another name, the fees will be applicable.

          Cheers,
          Team BankBazaar

          Reply
  3. Vamsi

    Hi,
    I have registered my flat on May 9th 2016. Got Occupancy certificate as well in May 2016. Kindly let me the know the documents needed to claim deduction on Stamp duty charges for this financial Year.

    Reply
    1. Team BankBazaarTeam BankBazaar

      Dear Vamsi,
      Thanks for writing to us. Keep a copy of your stamp paper for claiming your tax deduction. Keep in mind that the stamp paper needs to be in your name.

      Cheers,
      Team BankBazaar

      Reply
  4. kapil s shrikhande

    we have purchsed a residential flat in pune which is 18 years old from the first buyer and now we are about to sell it in a holding period of 6 months will the neww buyer will have to pay stamp duty again or will he be exempted or will i get refund of the stamp duty paid?? pls reply

    Reply
    1. Team BankBazaarTeam BankBazaar

      Dera Kapil,

      Thanks for writing to us. Every time a property is registered in another name, stamp duty needs to be paid. Please contact your legal counsel for further advice.

      Cheers,
      Team BankBazaar

      Reply
  5. Vijay Garg

    I want to Know whether stamp duty paid on agreement to sell Rs.20000/- can be deducted from the Stamp duty payable at the time of registration of property in Bangalore.

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Vijay,

      Generally stamp duty is not required on agreement to sell and it can be done on a hundred Rupees stamp paper. However, where the agreement to sell is coupled with possession or agrees to give possession, then stamp duty is required to be paid. The stamp duty paid on agreement to sell is adjustable at the time of conveyance/registration of property.

      Cheers,
      Team BankBazaar

      Reply
  6. Ratul

    Hi,
    I have made a purchase in Mumbai.And done my stamp duty. Now bank is saying to do franking. Is it really needed?

    Reply
    1. Team BankBazaarTeam BankBazaar

      Dear Ratul,

      Thanks for writing to us. Generally either e-stamping or franking needs to be done if it is for the same transaction. If the stamp duty is paid, franking might not be necessary.

      Cheers,
      Team BankBazaar

      Reply
  7. Harish Dassani

    Dear , I have Finalised a Resale Property to buy , Total Agreement would be of 27 lakhs – there is no Black component between us. The Seller wants me to pay 12 lakhs by cheque ( my own contribution ) & 15 lakhs by the Bank Loan. But , there is a Problem – she wants the stamp duty & the registration , to be done , after 2-3 months only .

    Can I pay her 12 lakhs by cheque ( my own contribution ) , on the basis of , normal Sale Agreement , which is not Stamp Dutied & not Registered ? Is there any sort of Risk Factor to me ? kindly please advise ……………

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Harish,

      There are a number of risks associated with entering an agreement that isn’t stamped or registered. An agreement of this nature is generally not accepted in a court of law. It is advisable to contact your legal counsel for advice on this matter.

      Cheers,
      Team BankBazaar

      Reply
  8. Binay Banerjee

    I am from asansol. I purchase a house of 41 laks. What is the cost of stamp duty and registry charge.

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Binay,

      You need to check with your registrar’s office for these details. The amount will vary from state to state and also within a state.

      Cheers,
      Team BankBazaar

      Reply
  9. rohit bhosale

    I am purchasing resale flat for that I have applied for home loan in HDFC bank. I want to confirm that what is mortgage tax and what is percentage of mortgage tax ?

    Reply
  10. vishwanath jaiswal

    hello

    my father had purchaed a flat in 1980 on stamp paper of rs 5/- is registration compulsory?

    reply

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Viswanath,

      Thanks for your query. While we do give general advice to our readers, we are unable to provide specific guidance on any query. We request you to get legal counsel regarding this matter.

      Cheers,
      Team BankBazaar

      Reply
  11. Jasika

    Hi , I have purchased new home around 18lac from delar in the mane of 2 person. Now 2nd owner is transfer the full property to 1 St owner .
    Please suggest then registry will applicable for full amount or only 2nd owner part.

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Jasika,

      You may have to re-register the property. Please contact your legal counsel for help and advice on this matter.

      Cheers,
      Team BankBazaar

      Reply
  12. Vinit

    I have paid the stamp duty of 20520 for mortgage related to educate loan of 20 lacks. On receipt it says, “education Loan – stamp duty exempted” but my Bank agent has taken 38000 for stamp duty and whole process. So is he taking extra money? ( and if he is taking more than usual then how much extra is he taking)/how much money I should ask him to return?

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Vinit,

      You will need to contact your legal counsel for assistance with this.

      Cheers,
      Team BankBazaar

      Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Shivugowda,

      Memorandum for deposit of title deed or MODT is applicable for all home loan borrowers. It is essentially an undertaking given by you that you are depositing the title documents of the property with the bank at your own free will in return for a loan. For some banks, apart from the loan agreement, the undertaking needs to be registered and the government levies a stamp duty towards registration charges. Stamp duty charges vary from one state to the other, but on an average, charges of 0.1 percent to 0.2 percent of the Home Loan amount apply. Hope this helps.

      Cheers,
      Team BankBazaar

      Reply
  13. sunil patil

    my father had purchased a flat in 1988 at kalyan , maharashtra , so in sale deed why does not disclosed stamp duty?
    is the stamp duty exists in that period? if exists , how it was ? and how do we calculated it?

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Sunil,

      Stamp duty was introduced way back in 1899 by the British. Stamp duty is calculated based on the value of the asset mentioned in the document. For properties, this is mostly the market value. It may not be possible for us to ascertain the percentage duty that was prevailing in 1988. You could contact your legal counsel for help with this.

      Cheers,
      Team BankBazaar

      Reply
  14. Ramendra kumar

    hello sir ,
    muze ek plat lena hai ..socity ka hai 108 gaj ka hai .uspe kitna rs regidtry k lagenge .

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Ramendra,

      Registration charges will differ from state to state. Please enquire at the registrar’s office in your state and area.

      Cheers,
      Team BankBazaar

      Reply
  15. KEDAR KAVI

    Hello,

    We purchased a flat in Secunderabad in 2006-2007 when the state was called as Andhra Pradesh. Now the name of the state is changed to Telangana.
    We now want to sell the property. Pls let me know if there is any additional documentation required due to name change of the State.

    Thank you

    Kedar

    Reply
    1. Team BankBazaarTeam BankBazaar

      Dear Kedar,

      While we do provide general tips and advice on personal finance, we will not be able to provide guidance on specific queries. We would love to help but due to the specific nature of your question, we suggest that you get legal counsel or consult your financial advisor to sort this out. You could even contact your local registrar office for help.

      Cheers,
      Team BankBazaar

      Reply
  16. Sharad Mahendrakar

    Hi,

    Could you please let me know what is the % charges in Karnataka for Memorandum for deposit . I have taken a loan from HDFC bank and its a Pre launch property.

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Sharad,

      MoD charges can differ from one area to another. We suggest that you contact your bank or registrar office for the details regarding this.

      Cheers,
      Team BankBazaar

      Reply
  17. Kanth

    Hi,
    I have taken a housing loan from the bank and mortgaged the property (MOD). Since the cost of house was little high, the stamp duty was not paid full as per the state stamp duty rules, but the register has accepted and the MOD was executed.

    In this regard is the mortgage is valid as per law. Please let me know.

    Thanks

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Kanth,

      Due to the specific nature of your query, we suggest that you get legal counsel for help with this.

      Cheers,
      Team BankBazaar

      Reply
  18. Karan

    Hi, I have a flat under a group housing society in noida extension. Builder gave us possession wiith a valid – part completion certificate from greater noida authority. With taking possession of flat the registration of flat (after paying etamp duty) is also completed with noida authority. I have registration document of flat now on my name. There is also a home loan on the said property with axis bank.

    Now my query is that I am trying to resale this property. And the buyer is taking a home loan for 80% payment. He got pre approval loan from india bulls. Can his bank raise any issue on part completion certificate when granting loan? Whereas I have all registration documents on my name with me. And my bank does not have any objection as well.

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Karan,

      Banks generally do not ask for a completion certificate if the house is occupied. For further clarification of any doubts you may have, we suggest that you get in touch with your legal advisor.

      Cheers,
      Team BankBazaar

      Reply
  19. Karan

    I have a flat registered on my name in group housing society in noida extension. Society is on lease hold. Now when reselling, buyer is asking to sign a transfer memorendum with noida authority. Now my question is why transfer memorendum is required when i already have registration of flat on my name. Cant he simply get registration directly on his name after paying through bank loan. Second, is there any risk if i sign transfer memorendum before the final 80% paymenti is issued to me from his bank.

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Karan,

      Due to the specific nature of your query, we suggest you get legal counsel for help with this.

      Cheers,
      Team BankBazaar

      Reply
  20. Neha

    I am purchasing a builder floor in faridabad. The seller’s property is under the loan and i am taking 80% bank loan from the same bank where the seller had taken. I had paid 10% amount to the seller. I have registered the property in court but i did not get any registration slip of the registry. Dealer told me that you will get the registration slip soon. My query is that now seller is asked me to pay the rest amount. Is there any risk to pay the rest amount to the seller without receiving the registration slip ?

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Neha,

      The registration of a property needs done at the registrar office. It should be done on stamp paper where the property is transfered to your name. Could you elaborate on why the property was registered in court?

      Cheers,
      Team BankBazaar

      Reply
  21. Jitendra

    I paid stamp duty pf my room in 2014 and nowi want to registration my room what should I do?

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Jitendra, You need to register the property within four months of paying the stamp duty. You might need to pay the stamp duty once more if you want to register the property now.

      Cheers,
      Team BankBazaar

      Reply
  22. mohan

    i have mortgaged my property by deposit of title deeds with a finance company in kerala. what is the stamp duty and registration chargesfor cancellation of memorandum of title deeds in kerala.

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Mohan,

      Cancellation charges are usually very nominal. We suggest that you get in touch with your registrar office for the exact details.

      Cheers,
      Team BankBazaar

      Reply
  23. Binay

    Hi, I have purchased a flat in Dhanbad, Jharkhand. Out of which 20% i have paid to the Builder at the time of booking and agreement . And after that i have taken a Loan from LIC of amount 19.30 lakh. Out of which 50% money 9.65 lakh has been disbursed to the Builder. And after few months 4-5 months , now i am getting a call from LIC Agent and Builder to do a register for flat. And flat is not completed yet, only bricks work. So , my query is whether i should do a register or not ?? . Because after doing register, it may happen that Builder will not listen and will not give flat complete. Because after register, the whole remaining amount it will take from LIC. So whether i should do register for my flat or not ??

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Binay,

      It is always better to register your flat when it is ready to occupy. However, if you want to do it now, get legal counsel in order to protect yourself from delays in the project, if any.

      Cheers,
      Team BankBazaar

      Reply
  24. HEMANT

    I am working with PSU bank in advances section. Kindly let me know which article code should be selected while e- franking ( eSBTR) Guarantee Agreement

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Hemant, It won’t be possible for us to comment on the article code without knowing about the transaction. We suggest that you get in touch with your legal counsel for help with this.

      Reply
  25. Sachin K

    Hello Team,
    I get sanctioned home loan from icici bank. As per the legal documentation for creation of security they need Register mortgage alongwith Index 2 and registration receipt in favor of icici bank ltd. I am not sure about what is the procedure to do this and i am confused difference between mortgage intimation and register mortgage.
    Could you please help me to get this understand.

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Sachin,

      While we do provide general tips and advice on personal finance, we will not be able to provide guidance on specific queries. We would love to help but due to the specific nature of your question, we suggest that you get legal counsel understand this better.

      Reply
  26. Shubhada Nene

    Nice information. I hv a query. I have paid 20 % of the property value. But dont hv enough funds to do the payment. I will be able to pay after six months. What can be the consequences

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Shubhada, The registration will be done only after you pay the total cost of the property to the builder. Some builders do impose late fees if the money is not paid on time. Please check with your builder for the details.

      Reply
  27. prasad jadhav

    I m land owner and give my land to builder under development agreement for development purpose. Builder build 20 flat and 8 shop and give me (land owner) 2 flat & 1 shop. On that 2 flat and 1 shop which given to me stamp duty applicable or not.

    Land stamp duty paid by builder while registering development agreement. he gives me only possession letter. and still light bill and property tax has builder name not in my name.

    So, please guide me on this transaction what i do in this case.
    please this is very old issue in 2005 he gives me possession and i paying property tax and light bill which has builders name.
    in Above transaction index II generated or not. if i wish to sell one flat there is any problem regarding sell. please tell me what procedure i follow regarding clear title.
    because i discuss with many lawyer but everyone gives me different opinion. i m confused what to do.

    Reply
    1. Team BankBazaarTeam BankBazaar

      Hi Prasad, While we do provide general tips and advice on personal finance, we will not be able to provide guidance on specific queries. We would love to help but due to the specific nature of your question, we suggest that you get legal counsel to sort this out.

      Reply
  28. ATUL

    Hello ,

    I have booked the under construction flat. But while franking I mentioned a wrong PAN card no. on challen.
    How it will affect.

    BR//ATUL

    Reply
    1. Sanesh MathewSanesh Mathew

      Hi Atul, While we do provide general tips and advice on personal finance, we will not be able to provide guidance on specific queries. We would love to help but due to the specific nature of your question, we suggest that you consult your legal counsel for advice on this.

      Reply
  29. Avinash

    It is compulsory to file notice of intimation in Uttar Pradesh?
    Pls advice me. Avj

    Reply
    1. Sanesh MathewSanesh Mathew

      Hi Avinash, While we do provide general tips and advice on personal finance, we will not be able to provide guidance on specific queries. We would love to help but due to the specific nature of your question, we suggest that you consult your legal counsel for more information about this.

      Reply
  30. Amar

    I have already paid .1% stamp duty ( Bangalore ) and agreement was only in my name now while execution of sale deed i want to add my wife’s name also. advocate is asking for again to pay .1% for new name addition .
    please clarify is it correct ? i could not find any clause for the same .

    Reply
    1. Sanesh MathewSanesh Mathew

      Hi Amar, You’ll have to pay the stamp duty to confer legality on your wife. Cheers, Team BankBazaar

      Reply
  31. Ritesh

    I have bought a flat in Faridabad and taken a loan from HDFC. The builder is charging high amount in name of registration fee administrative charges which the outside lawyer is taking 1/4th of the same. I want to get it self registered and have no objection in handing over the document to the builder so that it can be handed to the bank. Builder is asking to get it written from bank but bank is saying we cannot give in writing to me to get the registry done self. I do not understand what is the problem for bank. I am ready to give an undertaking that i will hand over the document right away to builder after the registry

    Reply
    1. Sanesh MathewSanesh Mathew

      Hi Ritesh, While we do provide general tips and advice on personal finance, we will not be able to provide guidance on specific queries. We would love to help but due to the specific nature of your question, we suggest that you get legal counsel or consult a financial advisor to sort this out. Cheers, Team BankBazaar

      Reply

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