Stamp duty value on Resale property as per new Bill passed in March 2022

This query is : Resolved

Nikita Ratwani (Querist)
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29 December 2022 I want to know the stamp duty value to be paid on the purchase of Resale property.

I am purchasing a property value Rs.40 Lakhs The seller had purchased the same property for Rs.35 Lakhs earlier.

1) I have read the stamp duty rate is 6% for purchaser in 2022

2) I have also read that Bill has passed on March 23, 2022 for stamp duty on Resale property - stamp duty is to be paid only on the difference of the property value (in my case 5 lakhs)

So, question is do I have to pay -

option 1) Stamp duty of Rs 2,40,000 [40,00,000*6%]

OR

option 2) Stamp duty of Rs. 30,000 [5,00,000*6%]

Please advise.

Thanks.