Response

Stamp obligation fees on belongings rely upon numerous standards throughout Maharashtra nation. This consists of whether or not the belongings is positioned in city or rural regions, overall value of the transaction, etc. Earlier in April 2020, the Maharashtra authorities has decreased stamp obligation on residences for the following years, withinside the regions falling beneathneath the Mumbai Metropolitan Region Development Authority (MMRDA) and municipal agencies of Pune, Pimpri-Chinchwad and Nagpur. This manner that stamp obligation on residences in Mumbai, Pune and Nagpur, changed into charged at 5% (4% stamp obligation + 1% metro cess), however with impact from April, 2021 the revised fees are as follows for Thane: 6 percent (consists of neighborhood frame tax and shipping surcharge).

The registration costs withinside the nation are 1% of the whole value, for the residences priced under Rs 30 lakhs and capped at Rs 30,000 for residences priced above Rs 30 lakhs. Also, in keeping with Article 34 of the Maharashtra Stamp Act, which changed into amended in 2017, stamp obligation on present deeds is 3% of the belongings’s value. However, if the belongings in attention is a residential or agricultural belongings and is gifted (with none payment) to own circle of relatives members, then, the stamp obligation is Rs 200.

If your mom does now no longer need to stay a surety then she may be discharged of her legal responsibility on imparting every other surety on her place.

Reference: Maharastara Stamp Act, 1958
Article 38 – – AHG40 – 202100553 – 21 – 50 – 2021001552021004312880

LAWAYZ-2023-924