Product Details
STAMPDUTY
MumbaiA Quality Product from
SHREE SIDDHIVINAYAK ESTATE DEALERS [View Profile]
Mumbai - India
Description :
The Inspector General of Registration has recently published the Market Values of Mumbai properties for the year 2001. The Stamp Duty Ready Reckoner is extremely exhaustive, with the city reckoner itself being more than 200 pages. One of the significant steps taken by the authorities to check stamp duty evasion, is that the duty will now be charged according to the survey number and not the address provided. This will help to eliminate attempts to pay a lower stamp duty by concealing vital address details at the time of payment.
Some of the salient features of the Market Value for the year 2001 are as follows :
The rates will be mentioned in Square Meters uniformly for the whole of Maharashtra (one meter = 3,2808 square feet and one square foot = 0.093 square meter ). Depreciation is given according to the life of the building. Compared to the year 2000, percentage of depreciation has been increased for the year 2001.
If the building has more floors then the market value of the property is increased by 5% and if the building has more than 10 floors, then the market value of the property will be increased by 10%. Earlier it was linked to a flat amount of Rs.200 to Rs.300, irrespective of the place where the property was situated.
If the shop is on the rear end of the road or inside the building, then the market value of the property would be 75% of the prevailing rate as mentioned in the Ready Reckoner. For Dispensaries and Nursing Homes, the stamp duty will have to be paid on the residential rate and not on the commercial rate. this is a big boon for people connected with the medical profession.
If the premises are acquired by the bank for their business related activities, then the rates will be charged according to those for an office, which appears in item number five of the Ready Reckoner.
The value of the terrace will be taken at 30% of the market value of the flat. Open car parking would be taken a 25% of the residential value of the flat. Stamp duty will be levied on the built-up area. To arrive at the built-up area, one has to add 20% to the carpet area.An attempt has been made in the Ready Reckoner to mention the properties according to the Division / Village. Bombay Municipal Corporation administers the properties in Mumbai and for its administrative convenience, has divided the city into several municipal wards. Each municipal ward is subsequently divided into a number of villages.
An attempt has been made in the Ready reckoner to describe the market value of the property with regard to the village in which the property is situated Professionals as well as the persons concerned with real estate are advised that whenever they are drafting an Agreement, they should emphasize,
Product Price :..
Special Offer :
1. built-up area of the flat
2. survey number of the property
3. village where the property is situated
4. year of construction of the building and
5. number of floors in the building
With a view to give the exact descript
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SHREE SIDDHIVINAYAK ESTATE DEALERS deals in :
Dealing in Flat, Shops, Hotels, Plots, Bunglows.
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