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STAMP DUTY

Ready Reckoner of Stamp Duty payable under Article 25(d) of Schedule 1 of the Bombay Stamp Act 1958 relating to residential premises in Mumbai in a Co-operative Housing Society registered or deemed to have been registered under the Maharashtra Co-operative Society Act 1960 or to which provisions of the Maharashtra Ownership Flats (Regulation of Promotion of Construction, Sale, Management and Transfer Act, 1963, or the provisions of the Maharashtra Apartment Ownership Act 1970, apply.

• Stamp Duty is payable on market value or agreement value, whichever is higher.

• The rates of Stamp Duty for shops / offices / industrial galas / basements is 10% of the prevailing market value of the property or the agreement value, whichever is higher.

• The above amount does not include Registration fees which is 1% of the market value or agreement value, whichever is higher, subject to maximum of Rs.20,000/-.

• Stamp Duty is charged for every Rs.500/- or part thereof.

• Registration fee is charged for every Rs.1000/- or part thereof.