Stamp Duty

At 5,253 Cr, Pune's stamp duty collections jump 38% in nine months of 2024

The city recorded 1,38,412 property registrations, marking a significant 29 per cent increase compared to the same period in 2023

Buying a property? Check stamp duty rates in key metro cities

Understanding stamp duty and registration charges is crucial for prospective homebuyers as these costs can add significantly to the overall price of property transactions

Transfer of leasehold land: Authorities may have upper hand in GST levy

When a company sells its rights to leasehold land to a third party for the remaining lease term, the transaction typically attracts stamp duty

Office transactions hit record high at 34.7 mn sq. ft. in H1 2024: Report

Office space leasing absorption in Kolkata surged 33 per cent year on year to 0.4 million square feet in the April-June quarter of 2024, according to the CBRE India Office Figures Q2 report. The key sectors driving absorption in Q2 2024 were technology (40 per cent), BFSI (21 per cent), and flexible space operators (10 per cent). "The office space leasing absorption in April-June 2024 was 0.4 million square feet against 0.3 million square feet in the YoY period, a CBRE official said. Another real estate consultant, Knight Frank India, also said that Kolkata's office market saw a significant increase in office leasing volume, with 0.7 million square feet of office space transacted in H1 2024 (January-June 2024). This represents a 23 per cent growth compared to H1 2023, according to Knight Frank India's report "India Real Estate: Residential and Office" (January-June 2024). Average office space rents increased by 6 per cent year-on-year (YoY) during H1 2024, it said. Knight Frank a

CM Yogi directs reduction in stamp registration duty for rent agreements

CM emphasised that an online system for stamps and registration is crucial for ease of living

Himachal to charge 8% stamp duty on corp mergers, separations: Minister

The Himachal Pradesh government will fix the rates of sand and gravel and will also charge a stamp duty of 8 per cent on merger of companies or separation of partners of companies, according to an amendment bill passed by the Assembly. The government will also charge 6 per cent stamp duty on the lease amount on the auction of mining leases. These steps are aimed at raising the resources, said state Revenue Minister Jagat Singh Negi, who introduced the Indian Stamp (Himachal Pradesh second amendment) bill 2023 in the House on Friday. After discussion on the last day of the winter session, the amendment bill was passed by voice vote. In response to the discussion on this bill, Negi said that industrial companies merge with each other and the government does not get anything in return. No stamp duty is levied on them, which causes loss to the government. In such a situation, the government is making a provision to impose an 8 per cent stamp on these companies so that resources can be

Realtors hail Bengal govt for extending stamp duty rebate till June 2024

The real estate industry in West Bengal on Friday welcomed the state government's decision to extend the stamp duty rebate till June 2024. CREDAI West Bengal president and Merlin Group chairman Sushil Mohta said the stamp duty rebate extension will help the industry achieve a growth trajectory. "The real estate industry has been struggling since the COVID-19 pandemic. However, it managed to survive because of the continuous support from the state government in terms of the two per cent rebate in stamp duty and 10 per cent rebate in circle rate. The extension of the rebate will give a much-needed boost to the industry," Mohta said. The increase in interest rates and the huge rise in the cost of raw materials made it difficult for the industry to pass on the benefits of the rebate to consumers, he said. "However, the state government's support is helping us keep the costs down for consumers. The extension of the rebate will further encourage real estate buyers to close their ...

China halves stamp duty on stock trades to boost struggling market

Along with the finance ministry move, CSRC is rolling out measures to shore up market confidence in investing in listed companies

Mumbai's stamp duty revenue rises 14% in May despite higher interest rates

Demand for housing remains firm, despite hikes in the interest rates in the last year and a steady rise in housing prices testing homebuyers' appetite to buy

Delhi posts impressive growth in stamp duty collection in 2022-23

In a sign of the real estate business regaining its robust pre-Covid form in the national capital, the stamp duty revenue of the Delhi government registered 2.5 times growth in 2022-23, the highest in nearly past one decade, officials said on Monday. The collection of stamps and registration of properties taxes documents registered 2.5 times increase in 2022-23, as compared to Rs 2,308.19 crore in 2013-14, showed official documents. The amount included Rs 4,668.72 crore collected as stamp duty, Rs 889.73 crore as registration fee and Rs 178.27 crore as court fee paid online for cases being heard in revenue courts in the capital, in 2022-23, the officials said. As compared to 2021-22, hit by COVID-19 and subsequent lockdowns, collection of stamp and registration fee in 2022-23 recorded around 16 per cent hike, the data showed. In 2021-22, the stamp and registration collection was Rs 4,952.66 crore. These comprised fees from sale deed, conveyance deed, power of attorney, will and ..

The tax rule to know when you partner with relative to buy property

Sale transactions of less than Rs 50 lakh is not subject to tax deducted at source

100% exemption in stamp duty for women entrepreneurs in Uttar Pradesh

The state has also notified 100% stamp duty exemption for setting up of solar energy units, solar energy projects or solar energy parks in the state

Cumulative stamp duty, registration fee revenue jumps 35% in H1: Report

Cumulative revenue collection from stamp duty and registration fees across 27 states and the Union Territory of J&K rose to Rs 94,800.47 crore in the first half of 2022-23 (H1FY23), logging in a robust 35 per cent on-year growth from Rs 70,100.20 crore in the year-ago period, shows a report. The average monthly revenue collection from these levies rose to Rs 15,800.07 crore in the reporting first half period, up from Rs 11,600.87 crore in H1FY22, according to the data collated by Motilal Oswal Financial Services. Being the largest state in terms of the size of its economy and the sky-high Mumbai property prices, it is not surprising that Maharashtra leads the table with the highest collection of revenue from this head at Rs 18,600 crore which grew 65 per cent from the previous year, the report said, adding this is 20 per cent of the overall stamp duty and registration charges for the country in H1. In the second slot is Uttar Pradesh with Rs 12,300.94 crore in revenue from this ...

Registration of properties in Mumbai city up 78% in May at 9,523 units

Registration of properties in Mumbai municipal area rose by 78 per cent year-on-year to 9,523 units during this month, according to property consultant Knight Frank India. As many as 5,360 properties were registered in Mumbai city (BMC area) during May 2021. The registration data is for properties bought in both primary and secondary (re-sale) market. "May 2022 recorded property sale registration of 9,523 units denoting a 78 per cent Y-o-Y rise. The substantial rise comes on the back of low sales registrations recorded in May 2021 as the month was laced in lockdown due the impact of 2nd wave of Covid-19," Knight Frank said in a statement. Shishir Baijal, Chairman & Managing Director, Knight Frank India said the real estate market in Mumbai held steady despite the pressures of inflation, rising input costs and rise in stamp duty. "Owing to a paradigm shift in attitude, home buyers, that now consider ownership important for long term stability, were keen on completing their ...

Over Rs 2,160 cr collected as stamp duty in Maharashtra Raigad district

Stamp duty to the tune of Rs 2,161.95 crore was collected for the the financial year 2021-22 in Raigad district in Maharashtra with 1,26,299 documents being registered

Maharashtra to waive penalties on select deficit stamp duty payment cases

The waiver shall apply only to pending cases as of March 31, 2022, and in which at least one notice has been served

Kolkata home registrations jump over 2 times in July-Sep on stamp duty cut

Registration of residential properties in Kolkata metropolitan area jumped more than twofold to 15,160 units during July-September period mainly driven by stamp duty reduction by the state government

Over 80% potential customers to buy homes if states cut stamp duty: Survey

Over 80 per cent prospective homebuyers may consider buying a house if stamp duty is lowered by states, according to a survey by realty portal Magicbricks.

Damani, Big B, Raheja: Ultra-rich go realty shopping in Maharashtra

The state government cut stamp duty to three per cent from five per cent up to December 31 last year and to two per cent up to March 31 this year

Covid crisis, rollback of stamp duty cut impact Mumbai home sales

The second wave of Covid-19 and the rollback of the stamp duty cut in Maharashtra impacted the housing sales in April, showed a report by Knight Frank India