In India, stamp duty is a mandatory fee paid to the state government during the registration of property transactions. It is an upfront cost that must be settled before the property is legally transferred to the buyer. Coming back to your question, can
stamp duty be paid in installments
? According to my research and knowledge, you can’t pay stamp duty in installments.
Can You Pay Stamp Duty in Installments?
Unfortunately, stamp duty cannot be paid in installments. It must be paid in full at the time of property registration. This is a legal requirement across states, and the property transaction cannot be completed unless the stamp duty is fully cleared.
But in some states, it may be possible to pay stamp duty in installments. You are required to check this within your state.
Stamp duty rates vary by state. It normally ranges between 2% and 8% of the property's market value or agreed value.
While the government does not allow customers to pay stamp duty in installments, banking institutions offer tools to help them manage this price.
For home loans provided by specific banks and non-banking financial companies (NBFCs), the loan amount includes stamp duty and registration fees. With these loans, buyers can make monthly installments to repay the entire amount owed, including stamp duty. However, buyers need to find out if these solutions are available from their lenders.
This is all about can we pay stamp duty in installments.
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Authors Of The Question
Can Stamp Duty be Paid in Installments?
kamal
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1 Answers
51 days
2024-10-30T14:41:06+00:00 2024-10-30T17:19:19+00:00Comment
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