Agreement Value Calculation

The value of the transaction is the most important factor on the basis of which stamp duty is levied on a real estate transaction. At this stage, it is important to note that the departmental administrations are responsible for setting a standard rate for land and other real estate below which a transaction cannot be recorded. Even when real estate is purchased at a value below the prevailing district rates, stamp duty is levied on the value of the property. In cases where the transaction is higher than the value of the district course, the royalty is calculated based on the commercial value and not the value of the circle rate. For example, if the contract value of an Rs property is 50 lakhs and the value is 40 lakhs according to the Rs reading receiver rate, then the stamp duty would be calculated on the higher value, i.e. Rs 50 Lakhs. In the case of rights given on the land adjacent to the apartment on the ground floor / stilts with the apartment, for gardening, parking, etc. then 40% of the value of the final invoice is multiplied by the area and included in the valuation of the property. Stamp duties are classified according to judicial and extrajudicial obligations. While court stamp fees, better known as court fees, are fees imposed on the parties to the trial, stamp duty on real estate transactions fall into the category of extrajudicial fees, given that it is a one-time payment on the value of the transaction. For the majority of States, the majority of stamp duty revenue comes from the tax on instruments of transmission or sale. The determination of the valuation of real estate over 02 years of age must be deducted from the percentage of the value of the prefabricated invoice. When determining the age of the property, the certificate of occupancy or the certificate of completion issued by the Government Office concerned is examined.

If these allowances are not available, other information, such as the date of connection to electricity, etc. .

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