You can see there a rush for registration of new flats in June as government cuts stamp duty to 6% for first-sale flats. Earlier first-sale flats continue to pay 7.5% for stamp duty on registration of new apartment. If you have already registered your apartment, you are lucky as government may give refund of difference amount.
The government which announced the reduction in stamp duty to 6% from this fiscal did not apply the same to the first sale of flats and such transactions continue to pay the earlier 7.5%. Law department has approved the amendment in Act and reduces the stamp duty to 6%. Notification can be expected by the completion of election process in states.
Links to follow:
Stamp duty lowered by government.
Stamp duty cut to 6% for first-sale flats too
Tags: Apartment India, Bangalore, indian real estate, Stamp duty
I have registered my new flat during april 1st week in bangalore. That time the stamp duty was 7.5. Now it has been reduced to 6%. Will i get a refund for the difference amount. If so can any one guide me how to approach and make a claim.
Thanks in advance
Sathish. M