Can the agreement value be less than stamp duty value

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Vishal Jain (Querist)
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09 February 2016 Hi all, please suggest if have purchased a property whose agreed value is 15,00,000 whereas stamp duty value is 20,00,000. In such a case value for agreement purpose stamp duty value shall be considerd. Now my query is , Is there any way to consider agreement value to Rs 15,00,000.

Ashish Bansal

Ashish Bansal (Expert)
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10 February 2016 Generally it happens in some states, actual market price is less than stamp duty value e.g. Kolkata and Ghaziabad. In such case, though you need to submit the stamp duty according to stamp duty valuation i.e. on 20 lacs but the agreement value can be kept at actual i.e. 15 lacs in your case.

Vishal Jain

Vishal Jain (Querist)
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10 February 2016 so my owner will need to tax at what amt whether 15 or 20. pls suggest ? Thanks in advance for your suggestion.

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Ashish Bansal

Ashish Bansal (Expert)
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11 February 2016 Stamp duty need to be paid on Rs. 20 Lacs.

Vishal Jain

Vishal Jain (Querist)
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14 February 2016 thank you Sir