Special Story – The Maharashtra Co-op. Housing Society stamp duty rate as conveyance of property, sale deed of immovable property is @ 5% on higher of market value or agreement value in Mumbai. However, One should not forget to give impact
of various valuation factors as appear in reckoner which contains Government Valuation factor for that particular year.
INFORMATION FOR STAMP DUTY AND REGISTRATION FEES PAYABLE ON PROPERTY DOCUMENTS FOR MUMBAI AND OTHER PLACES IN MAHARASHTRA Sr. No. I.
Types of documents
Stamp duty payable
CONVEYANCE (not being a transfer-charged or exempted under Article 59 w.e.f. 1-5-2012 On the true market value of the property – which the subject matter of the Conveyance – is
Registration fees payable Registration fees is 1% of Market value of ` 1,000/- or part thereof ` 30,000/whichever is less.
(a) if relating to movable property, for every Fifteen rupees. rupees 500 or part thereof; (b) if relating to immovable property situated, â&#x20AC;&#x201C; (1) within the limits of any Municipal 5 per cent of the Corporation or any Cantonment area annexed market value of the to it or any urban area not mentioned in sub- property. clause (ii). (2) within the limits of any Municipal Councils 4 per cent of the or Nagar Panchayat or Cantonment area annexed market value of the to it, or any rural area within the limits of the property. Mumbai Metropolitan Region Development Authority, or the Influence Areas as per the annual statement of rates published under the Bombay Stamp (Determination of True Market Value of Property) Rules 1995. (3) within the limits of any Grampanchayat area 3 per cent of the or any such area not mentioned in sub-clause (ii). market value of the property. T ! Z / ! ! < ! ! Z # ÂĽÂ&#x192; Â&#x17E; ! = ` 100 stamp paper. It is advisable to get both the agreements registered. B) Payment of Stamp Duty Stamp duty can be paid by purchasing the required stamp papers in the name of any one of executors to the instrument. If stamp papers are not purchased in the name of any one executors, such instruments are not admitted in evidence for any purpose. These instruments are also treated as not properly stamped. These instruments are liable to be impounded and sent to the Collector of Stamps for recovery of proper stamp duty. Stamp duty can also be paid by purchasing the stamp, affixing the adhesive stamps/ franking/e-payment on the documents. It can also be paid by way of challans in the Govt. treasury. With effect from 1-5-1994, the stamp paper has to be purchased in the name of any one or either party to the
SS-VI-93
The Chamber's Journal April 2013
109