Do you pay stamp duty on resale flats?
In April 2018, the stamp duty for affordable housing projects under Pradhan Mantri Awas Yojana has been capped to Rs 1,000.
In March 2015, the Maharashtra government decided that stamp duty need not be paid on the transfer of immovable property — land, house or flat — to one’s own children or blood relatives.
How much is stamp duty on a resale flat?
The stamp duty of 5 per cent is same for both, male and female property buyers. As for the registration value, it is 1 per cent of the value of the property, but not more than Rs 30,000. According to city laws, stamp duty is 5 per cent of the total cost of the property.
What is stamp duty for resale flat in Pune?
The residential apartments or flats in Pune will have a ready reckoner rate ranging between Rs.8,010 and Rs.1,47,730 for every sq.mt. This is applicable to the period 2018-2019. The commercial properties (private and public) in Pune will have a ready reckoner rate of Rs.1,111,600 for every sq.mt.
How is flat resale value calculated?
Value of a resale flat= Value of undivided share of land (UDS)+ Depreciated value of building and amenities + Value of overheads, expenses and promoter’s profit. Value of undivided share of land: Cost per square feet multiplied by UDS.