Pune: Only Six Days Opportunity For Registration Of Deeds For Those Who Have Paid Stamp Duty In Advance

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Pune, 23rd July 2022: Registration and Stamp Duty Department announced new current market value rates on April 1. Thousands of citizens had paid stamp duty in advance before March 31 this year as they thought that the rates would be increased this year. 

Accordingly, only eight days are left for the concerned citizens to register the deeds in the next four months i.e. till July 31 from the date of payment of stamp duty.

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Citizens across the state were flocking to get their deeds registered at the secondary registrar’s office as the ready reckoner rates were proposed to be hiked. However, according to Section 23 of the Registration Act, 1908, a deed can be registered at any time within four months from the date of payment of stamp duty. Accordingly, the citizens who have paid the stamp duty in advance have the opportunity to register the document till July 31. 

Due to the Corona pandemic, ready reckoner rates were not announced on April 1, 2020. Before that, the ready reckoner rate was not increased for two years and due to the coronavirus, the state government was in financial trouble and the rate was increased to some extent in September 2020. Also since it has been only six months since the ready reckoner rates were increased, the rates were kept ‘as they were last year (2021).

In all this background, according to Section 23 of the Registration Act, 1908, a deed can be registered at any time within four months from the date of payment of stamp duty. Accordingly, the citizens who paid the stamp duty before March 31 can do the registration till July 31 according to the ready reckoner before April 1, 2022.

Metro surcharge has been re-imposed on property purchase and sale transactions from April 1, 2022, in metro cities where metro projects are underway. Due to Corona, this charge was suspended for two years. The Registration and Stamp Duty Department has clarified that the ready reckoner before April 1, 2022, will be applicable to the citizens who have paid the stamp duty in advance and have registered by July 31 and will not be charged a metro surcharge.

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