Agreement Value Less Than Ready Reckoner

2. Stamp duty for the reference value of the property shall be paid accordingly. Both the supply and demand of stakeholders are not satisfied with this approach. Developers say it will have a negative impact on the real estate sector, which is already struggling. But what is a ready receiver rate, why has the Maharashtra government increased this rate and how does it affect you? 1. This is not the procedure followed when registering the deed of sale. He is required to indicate paragraph 74 laks in return for the deed of sale, but must pay stamp duty on point 76.44 Lakhs, which is the current rate as recorded by the said civil registry office. You can register for a lower price than the current rate, but you must pay stamp duty in accordance with the current rate. It is not necessary to remove the parking lot or to do the other exercise as prescribed by the client, as you mentioned in your application. If the circle rate of the property is more than 20% higher than the value indicated in the contract, the kreissatz is considered a sales underperformance.

This difference is taxed as a capital gain in the hands of the seller and as income from other sources in the hands of the buyer. To an unexpected extent, the Maharashtra government has increased reckoner ready rates by an average of 1.74% across the federal state from 12 September 2020. The decision to increase ready reckoner rates was taken just weeks after the Land Government announced a temporary reduction of 3 percentage points in stamp duty on the registration of housing units until 31 December 2020 and 2 percentage points for the period from 1 January 2021 to 31 March. 2021. This budget has broken the trend to avoid large announcements in interim budgets, analysts point out. Nevertheless, there are some areas that have not been affected and that should be covered in the full budget after the parliamentary elections. Among the main expectations that have not been met are an increase in the benefit provided in Section 80(C) for borrowers of housing loans, a simple wind system for clearances, the inclusion of stamp duty in the GST, etc. In a situation where the market value is higher than the prepaid billing rate, an appropriate increase in the rounding rate is acceptable. Even in the case of Maharashtra, buyers will remain at an advantage despite an increase in ready-reckoner rates given the substantial reduction in stamp duty, provided that the buyer does not pay in cash to deplete unpaid assets and save stamp duty. .

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