Legal Question in Banking Law in India

can a property situated in UP where mortgage by deposit of title deeds attract stamp duty be mortgaged with bank in delhi and avoid incidence of stamp duty


Asked on 5/15/15, 10:10 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

15.05.2015

Dear Sir / Madam,

The basis for levy of Stamp Duty is the State in which the property is situated, and not the place where the mortgage deed of the property is registered. Hence, since the captioned property is situated in UP, Stamp Duty will be applicable whether the mortgage deed of the property is registered in UP or in any other State.

Regards,

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Answered on 5/15/15, 10:50 am


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