This budget gives you a relief in stamp duty, in you land registration cost in Kerala. As you know the stamp duty for land registration in Kerala was as follows; If the land situated in “Panchayath Area” the stamp duty was 7%, in the Muncipal Area 8% and in the Corporation Area 9%. Hope you are aware of the fact the in addition to this there shall be a registration Fees payable to Government @ 2% irrespective of the locality.
Thanks to the Finance Minister. He has proposed to reduce the stamp duty for registration by 2%. Thus in the Panchayath locality it would be 5%, Muncipal Area it would be 6% and in the Corporation area it would be 7%. Indeed this is a great relief for the investors.
However, the registration Fees of 2% shall remain unchanged.
The Stamp Duty and the Registration Fees shall be calculated based on the Fair Value fixed by Kerala Government.
Biz & Legis, the corporate & Litigation law firm has a dedicated wing for Legal Due Diligence and Land Registration across the state of Kerala. If you have any questions upon the stamp duty and registration fees for Land Registration in Kerala, Please do feel to contact us and we shall be happy to assist you to clear your questions and give any further services.
You can contact our real estate legal team for more info about change in land registration stamp duty in Kerala. Contact us on 9847182002.