The expenses involved during registration include Stamp Duty, registration fees, Document writers/ lawyer's fees etc. The stamp duty will depend on the cost of the property. The land market price is announced by kerala Government depending up on location, type of land, road accesses and there is any building it also considering for the valuation, these rate are published in registrar office and village office. The stamp duty is varies from Municipality to Corporation to Panchayat. In Panchayat the stamp duty will be 7% of the cost of the land whereas in Municipality it is 8% and in Corporation 9%. + Two ( 2% ) percentages will be charged as the registration fees. Document writer's fee also depends on the cost of the property and varies with individuals. There is a percentage prescribed by the government as Document writer's fee. After registration, the registered document will be received after 2-3 weeks, from the registrar office.
Date : 22/07/2011:
UDF Government introduced a remarkable decision in Stamp Duty of family members. Earlier it is same as the normal registration and there is no importance in family title deeds. But now it is reduced from 7%– 8%– 9 % depending on Panchayath/ Municipality and Corporation. Which is now simply reduced to a Stamp Paper of Rs.1000. New rule implemented from today onwards.
Maximum Stamp duty for the family property partition is fixed as Rs.1000. Partition documentation among the family members, and for gift partition are included in stamp duty reduction.
Now Grandchildren can also enjoy the benefits of documentation, before this was allowed to Children, wife, husbands and brothers.
2% of the land value is fixed as registration fees. We get deduction only for stamp duty and not for registration fee.
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