A stamp duty of 5% is applicable and mandatory on flat purchases within the jurisdiction of Bangalore Urban District, as per the Karnataka Stamp Act. Without the payment of this stamp duty, your solicitor will not be able to officially register your new property in your name, even if the property is transferred within the family. The stamp duty rate for commercial properties, including offices, shop premises, and garages (even if used solely for car parking), is 5% in Bangalore.
The stamp duty amount for flat purchasers in Bangalore, Karnataka, is calculated based on the agreement value or market value, whichever is higher. Once the stamp duty amount is determined, the purchaser needs to prepare a pay-order addressed in favor of “SUPERINTENDENT OF STAMPS, Bangalore”. This pay-order is then used for franking the agreement. After the franking process, the agreement is duly filled out and signed by the respective parties.
Office of the Sub-Registrar,
Bangalore Urban District,
Karnataka, India.
Government of Karnataka,
BMTC Building,
Shantinagar, Bangalore – 560027,
Karnataka, India.
Karnataka Government Secretariat,
Vidhana Soudha,
Bangalore – 560001,
Karnataka, India.
The registration of the stamp duty-paid agreement document is essential to record the ownership of the flat. It is registered under the Indian Registration Act with the Sub-Registrar of Assurances within the jurisdiction where the property is located. The purchaser officially becomes the legal owner of the property only after the title deeds are registered or recorded in their name.
For registration, the original document printed on one side, along with two photocopies of the original, must be submitted to the registering officer. The registration process also requires the presence of two witnesses and the payment of the applicable registration fees.
A receipt bearing a distinct serial number is issued upon registration. The following requirements for completing the registration are typically stated on the receipt:
Income-tax clearance, i.e., a No Objection Certificate (N.O.C.) under Section 269 UL(3) issued by the appropriate authority constituted under Chapter XX-C of the Income Tax Act, 1961, if applicable.
The first step is the preparation of the document that needs to be registered, such as a sale deed, mortgage deed, lease agreement, or gift deed. The document must clearly describe the parties involved, the property, and the terms of the transaction.
It must be signed by all parties to the document, and two witnesses should also sign.
The first step is the preparation of the document that needs to be registered, such as a sale deed, mortgage deed, lease agreement, or gift deed. The document must clearly describe the parties involved, the property, and the terms of the transaction.
It must be signed by all parties to the document, and two witnesses should also sign.
The registration fee for property transactions is currently fixed at approximately 1% of the market value or agreement value, whichever is higher, subject to a maximum of Rs. 30,000/-.
The registration fee for the following immovable property transactions is levied on the market value of the property on which stamp duty is charged: