Stamp duty being part of property transaction where buyer bears its whole charges for fresh property being bought from builder. And in case of resale or property sold to second or third cost of the stamp duty is equally distributed between both parties involved in the property transaction.
This property transaction charges are paid to state government within specific period when selling deed takes place between parties. If the stamp duty is left unpaid under any circumstances then new owner won't be legal owner of that property and court would also reject any plea presented pertaining this. Further after the specified period when stamp duty is goingto be attached with penalty charges rate of 2 % per monthon the deficit(loss) amount of the stamp duty and penalty canbe maximum charged up to 200% of the deficit(loss) amount of the stamp duty.
So ensure and be clear to make your property transaction truly legal by paying stamp duty and other registration charges on time to avoid penalty attraction. In order to ease your calculation here we have come up with handy tool called as stamp duty calculator. It will ease your life by doing taking up the work of calculation of stamp duty with respect to each state; just select state name field mentioned as "Select State" from the drop down followed by mentioning the property value in the next field whose name mentioned as "Property Value" and you are just a button clickaway to get final value, now do a click by your mouse on the "Calculate" button and that's it you are done,you will exact value on your computer screen which will show stamp duty amount that needs to be paid to the government.
For more information on stamp duty and property registration feel free to connect with us.
Note : The result should be used as an indication only.