The downward trend continued in May, June and July. The growth in stamp duty turnover and registration fees is the proxy for real estate demand. In May 2020, TN`s registration department clarified that new and ready-to-move homes and buildings should not pay stamp and registration fees. This only applied to the first sale of the property and only the undivided part of the land (UDS) would be subject to stamp duty and registration fees and not to the super built area. In case of disagreement in the future, the lease will be one of the priorities of the dispute. However, there are other factors that, if overlooked, can cause bigger problems. Here are some of the things you need to keep in mind – The state government on Thursday ordered exemption from paying stamp duty for the registration of agreements made by micro, small and medium-sized enterprises (KKMU) for loans under the Aatma Nirbhar Bharat Scheme. However, he asked for a reduction in the registration fee and stamp duty, which is 11%. The government has also decided to reduce the registration fee to 0.1% for agreements for the deposit of ownership instruments for loans from micro and small enterprises. So far, the tax rate is 1% with a maximum of ₹6,000. The last stage of government has no influence on a particular program and the underlying idea is to promote the sector, the official said.
The programme, which was developed to ease the burden on the COVID-19 PPS, provides for the granting of loans equivalent to 20% of the outstanding loans of these companies. For this reason, the total exemption was granted for the payment of stamp duty. The omission of certain important clauses in your rental agreement leads to unpleasant disputes in case of disagreement between the tenant and the lessor. Even if the two parties know each other, the ideal is to make a comprehensive agreement to cover your back. On October 29, 2020, the registration department experienced a record level of registration of 20,307 documents containing 575 sub-registrar offices. The sale of stamp and registration duties that day brought Rs 123.35 crores. October was a good month for the department with a salary of Rs 1.096 billion. Stamp duty and registration fees remain the same for men, women and common buyers in Tamil Nadu….