Stamp Duty Is Payable As Follows:
- For first 5 Lacs of the property cost : Rs.7600
- After 5 Lacs: (Property value - 5 Lacs) x5% A + B = Total Stamp duty Applicable (for e.g. If you buy a property worth 50 Lacs)
- For first 5 Lacs = Rs.7,600
- 50 Lacs - 5 Lacs = 45 Lacs 45 Lacs x 5% = 2.25 Lacs.
hence, Stamp duty Applicable is Rs.7,600 + 2.25 Lacs = 2.326 Lacs.
However stamp duty may vary depending on the location, floor, ready reckoner rates, etc.