Announcement

Collapse
No announcement yet.

Stamp duty by cash

Collapse
X
Collapse

Stamp duty by cash

Last updated: June 20 2013
20 | Posts
6818 | Views
  • Time
  • Show
Clear All
new posts

  • Stamp duty by cash

    Hi,
    My Broker is asking to pay stamp duty in cash to advocate (which in my case would be 4.5 L),and registration by DD and states this is a usual process for agreement of sale for resale apartments. While on internet information allows differnet kind of payments - any inputs from senior members in the forum? He will be taking us to advocate office, and is okay if we spend a day in the process instead of letting advocate do the work.

    Thanks.
  • #2

    #2

    Re : Stamp duty by cash

    AFAIK you can pay in cash . No problems until and unless you get proper reciepts for the same. And I would suggest you get it done by the advocate unless and until you are sure about the kind of documentation and the process involved.

    Cheers,
    Pai
    Anything said before the word "but" hardly matters.

    Comment

    • #3

      #3

      Re : Stamp duty by cash

      "Stamp duty in cash"
      Why not E-stamps or DD.Specifically ask him reason for the same,though it is legal to pay in cash.

      Comment

      • #4

        #4

        Re : Stamp duty by cash

        Thanks Kartik, my main worry was reciept will come post process but i have to hand him cash right away - and from your response it seems its usual. May be my turn to see what 4.5 L in cash looks like in real (have always seen cheques of big amount so far)

        Comment

        • #5

          #5

          Re : Stamp duty by cash

          I recently did registration of my flat and paid everything in cash . But I got proper reciepts for every single ruppee paid . So thats why I suggested , by the way its always better to take a second opinion .
          Anything said before the word "but" hardly matters.

          Comment

          • #6

            #6

            Re : Stamp duty by cash

            Those we have done resale transaction this days, can please let me know how much we need to spent as legal charages for
            1. Search and title report for last 13 years
            2. Draft for Agreemt to sale
            3. Draft for sale deed
            4. Expances to register both agreements at registrer office ?

            Broker is asking too much, what are normal lawyer fee/charges for this 3 docs in resale case ?

            Comment

            • #7

              #7

              Re : Stamp duty by cash

              Originally posted by sandy_pune View Post
              Those we have done resale transaction this days, can please let me know how much we need to spent as legal charages for
              1. Search and title report for last 13 years
              2. Draft for Agreemt to sale
              3. Draft for sale deed
              4. Expances to register both agreements at registrer office ?

              Broker is asking too much, what are normal lawyer fee/charges for this 3 docs in resale case ?
              A friend has recently done it through a lawyer, and it costed 13k. I feel it is on higher side, should be around 7-8k. If you are taking bank loan, then every banks have list of approved lawyers. Select the bank for loan first, then go through the list of advocates of that bank, and then select whoever you feel is good. I'd give weightage to distance of that lawyer's office from your house, and his accessibility.

              Comment

              • #8

                #8

                Re : Stamp duty by cash

                Our resale transaction is through a broker, hence we are using his advocate and they are charging 10K. I agree it is on higher side, but then we didnt have any other reliance advocate leads so decided to go with him. All these charges were part of our package cost, and our negotiations were on package cost and not broker\advocate fees as such.

                Comment

                • #9

                  #9

                  Re : Stamp duty by cash

                  ^^^ Does it include public notice too? It should.

                  Comment

                  • #10

                    #10

                    Re : Stamp duty by cash

                    Hi,
                    I bought a resale flat recently.
                    HAD got my loan from SBI.
                    so search and title report was done by the SBI lawyer, his fees was 4000rs.
                    But I never trusted him regarding the agreement to sale because that guy without even seeing the papers directly stated to do agreement.

                    I went with a lawyer who is a relative of my wife's friend. He has 21 years of experience in property related stuff.

                    He told us the proper procedure and he gave a list of documents that should be seen before going into any agreement.
                    Public notice was done which costed around 2500-3000 something. I don't remember exactly.

                    Finally he charged 8000rs for doing the sale of agreement.

                    Comment

                    Have any questions or thoughts about this?
                    Working...
                    X