Property Registration In Tamil Nadu: Is Reduced Stamp Duty to 5% from April 2013?

The Tamil Nadu (TN) state government has consider to reduce stamp duty of plot of land and properties with effect from April 1, 2013. It give relief to the general public, it has consider to bring down the stamp duty from the existing 5% to 3%

The 2% surcharge (collected for development of local bodies like corporations, municipalities and  village panchayats) and 1% registration fee, however, will continue without any change.

In effect, overall registration charges will come down from 8% to 6%. Total registration fees (6%) for a property worth Rs. 30 lakh will be Rs.1,80,000.

According to an officer in Tamilnadu registration department, ''The move is in line with the  Jawaharlal Nehru National Urban Renewal Mission (JNNURM) directive to state governments to maintain uniformity in stamp duty. The reducing stamp duty will help curb black money in property deals”

In Karnataka state government last year (2012) stamp duty had been reduced from 6% to 5% on sale deeds. The registration charge of 1% ,however remains.

Tamil Nadu Registration and Stamp Duty.!

Year                                     Registration Fees   Stamp Duty  Surcharge  Total

Before 2012 April                       1%                         6%                   2%         9%

After 2012 April                           1%                         5%                  2%         8%

         

After 2013 April - Expect             1%                         3%                  2%         6%               

For Guideline Value (2012, April) Click following Link

http://www.tnreginet.net/Guidelinevalue2012/gvaluemainpage2011.asp

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