Thane Stamp Duty Rates for Sale Agreement

Stamp Duty Rates in Thane for Sale Agreement

                             (W.E.F. 25th April 2012)

No.Location of propertyRate of Tax
(i)within the limits of any Municipal Corporation or any Cantonment area annexed to it or any urban area not mentioned in sub-clause (ii).5%
(ii)within the limits of any Municipal Council or Nagar Panchayat or Cantonment area annexed to it, or any rural area within the limits of the Mumbai Metropolitan Region Development Authority, or the Influence Areas as per the annual statement of rates published under the Bombay Stamp (Determination of True Market Value of Property) Rules, 1995.4%
(iii)within the limits of any Grampanchayat area or any such area not mentioned in sub-clause (ii)3%

(1)    Stamp Duty rate is same for
commercial and residential property.

(2)    Stamp Duty is payable on
agreement value or market value, whichever is higher.

(3)    Stamp duty is charged for every Rupees 500 or part thereof of the market value,
for practical purpose.

(4)    Stamp duty on agreement for sale prior to 10-12-1985 is Rs.5 only.

(5)    Stamp duty on sale deed prior to 4-7-1980 is payable on agreement value only.

(6)    Stamp Duty must be paid at the time of execution of the agreement. Stamp duty late payment penalty is 2 percent per month on deficit stamp duty amount, subject to maximum 2 times of the deficit stamp duty amount.

(7)    Local Body Tax (LBT) @ 1 percent of Market Value of property by way of additional Stamp Duty is charged in few Municipal Corporation areas. This 1 percent tax is over and above the 5 percent of Market value charged as a regular Stamp Duty.

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