Stamp duty rates for Sale Agreement which includes (Flats, Land, Shop, Office and Industrial Unit etc.
5% stamp duty payable under Article 25(b) of schedule 1 of the Bombay Stamp Act 1958 for only properties under the jurisdiction of Municipal Corporation.
1) Stamp Duty is payable on market price or agreement value, whichever is higer.
2)5% is only for stamp duty apart from that 1% Registration fee again it is decided on market price or agreement value (which ever is higher) and Registration fee is subject to maximum Rs 30,000
3)Stamp duty is charged for every 500 rupees or part thereof of the market value, for practical purpose.
4) Registration fee is charged for every 1000 rupees or part thereof of the market value.
5) Stamp duty must be paid at the time of execution of the agreement. Penalty for late payment of stamp duty is 2% / month on deficit stamp duty amount, subject to maximum 2 times of the deficit stamp duty amount.
6)Stamp Duty on agreement for sale prior to 10 / 12 / 1985 is Rs 5 only