Property Law
Stamp Duty
A state-levied tax payable on property transaction documents like sale deeds, calculated as a percentage of the property's value, required for the document to be legally valid and admissible.
Stamp duty rates vary by state and by the nature of the transaction (sale, gift, lease, etc.), and a document that is inadequately stamped can face difficulties being accepted as evidence in court or being registered.
Buyers typically factor stamp duty and registration charges into the overall cost of a property purchase, since they can add a meaningful percentage on top of the purchase price.
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