Is LBT applicable in Pune?
As per the Government of Maharashtra Notification bearing No. LBT-2013/22/UD-32, dated 25/02/2013, the government has directed Pune Municipal Corporation to collect Local Body Tax instead of Octroi in its jurisdiction from 01.04. 2013 on the goods to be imported for use, sale and consumption.
What is the stamp duty rate in Pune?
Present Stamp Duty and Registration Charges in Pune
| Gender | Stamp Duty |
|---|---|
| Male | 6% – 5 % stamp duty and 1% local body tax (LBT) |
| Female | 5% – 4% stamp duty and 1% LBT |
| Joint (Male and Female) | 6% – 5 % stamp duty and 1% local body tax (LBT) |
| Joint (Male and Male) | 6% – 5 % stamp duty and 1% local body tax (LBT) |
What is the stamp duty rate in Maharashtra?
How much reduction was made in Stamp Duty in Maharashtra recently?
| Area | Total Stamp Duty in Maharashtra | Registration Charges |
|---|---|---|
| Up to 31 Aug 2020 | ||
| Mumbai city and suburbs | 5.0% | 1% of the agreement value (Maximum: Rs 30,000) |
| Nagpur Municipal Corporation | 6.5% | |
| Other urban areas | 6.0% |
How is stamp duty and registration charges calculated in Pune?
By multiplying the circle rate with the area of the property, the buyer can calculate the value of the property and then calculate the stamp duty. Considering the stamp duty in Pune at 5% of the property value, Kumar will have to pay Rs 6,41,400 as stamp duty.
Is LBT applicable after GST?
The Local Body Tax has been scrapped by the implementation of Goods and Services Tax (GST) from 1st July 2017.
Is stamp duty increase in 2022 in Maharashtra?
According to the new guidelines of the Government of Maharashtra, from April 1, 2022, the stamp duty on homes will be increased by one percent. This decision of the government is for those cities including Mumbai where construction works are going on regarding metro operation.
What is current stamp duty rate?
Why do we have to pay it?
| Purchase Price | Stamp Duty % |
|---|---|
| £0 to £125,000 | 0% (Zero) |
| £125,001 to £250,000 | 2% |
| £250,001 to £925,000 | 5% |
| £925,001 to £1,500,000 | 10% |
How much percentage is stamp duty?
The stamp duty rate ranges from 2% to 12% of the purchase price, depending upon the value of the property bought, the purchase date and whether you are a multiple home owner.
How can I save stamp duty and registration charges in Maharashtra?
By registering the property at Circle Rate or Guidance value you can save substantial amount in stamp duty & registration charges.
Can stamp duty be refunded?
Is Stamp Duty refundable on cancellation of flat? The buyer of the property can get a refund of 98% of the stamp duty, if an application is made for a refund of the stamp duty.