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Mr. Sanjay Nagpal, Mobile No. 9870394248 / 9867761728 • E-mail : sales@srproperties.co.in
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Resale Properties

We offer a complete range of property management services for your house. We believe that this service is extremely important, especially for someone who does not live the whole year in Crete. Our experience has shown us that many clients seek a professional organized service before becoming a home owner in Crete.

Prices for these services vary depending on the location and size of the house, garden and swimming pool. Please contact us if you are interested in availing yourself of our services. After visiting the site and discussing your requirements, we can offer you a quote for the management of your property.

With more than 5 years experience in the Mumbai property market, we know the Indian, the market and diligent attention to our clients' need allow us to offer you:

A carefully selected portfolio of excellent property options
   Our properties are selected with the utmost care Quality is always our top priority, and our mission is not only to    put you in the home of your dreams, but also one which is in complete harmony to you.

Legal advice
   As a lawyer with over Five years of experience, our legal associate is well versed in all the ins and outs of Indian    property law.

• Financial advice
   Our broad experience and expertise in business matters means we can offer you just the right advice. Our    properties are always a good investment.

Technical support & building programs
   Through our cooperation with professional building companies and local builders, we can offer our clients a choice    of various existing projects, or the possibility to build by order their unique home.

After sales service & house management
   Our concern for our clients does not end with the sale or construction of your home. We also value maintaining an    on-going relationship with our clients and are at your service to look after your home, pool and garden whenever    you are abroad.

Computerized Agreements
Stamp Duty / Registration
Old - New Agreement Valuation
Clearance of Old Documents
Certified Copies & Index II
Stamp Duty Refund
Notrisation, Attestation
All Other Documents

What is stamp duty & why it should be paid ?

Stamp duty is a tax, similar to income tax and sales tax, collected by the government. The stamp duty is paid by the buyer of the property. It is payable on the market value of the property or agreement value, whichever is higher.

The purchase agreement of a property does not become legal until it is executed by the government, for which you need to pay the stamp duty. Also, only instruments that are properly stamped can be admitted as evidence in court.

Value of stamp duty :

Is fixed by the government and varies from locality. It is the minimal amount property must be valued at and is calculated per sq. feet.

The government assesses the market value of property every year, and the revised rate, fixed by the state government and published in the Ready Reckoner, has been applicable since Jan 1, 2007.

Stamp Duty assessments are also made on the basis of the Ready Reckoner with builder and property brokers using it to peg prices.

When is stamp duty payable ?

It is payable before or on the day of execution of the document, or on the next working day.

If there is a delay in payment, it attracts penalty at the rate of two per cent a month on the deficit amount of the stamp duty. The maximum penalty is 200 per cent of the deficit amount of stamp duty.

ABCs of owning a house :

For registration, the document should be typed/printed on one side only and submitted along with a photocopy of the original to the Registering Officer. The copy should be photocopied only on one side, with a butter paper in-between copies – to prevent the typed matter from getting smudged. The copies need to be bound in a particular manner as well.

Stamp duty, according to government valuation or actual consideration, whichever is higher, is required to be paid on the same day or a day before registration. The document is prepared on a stamp paper or franked at a bank or a sub-registrar’s office.
A no-objection certificate (NOC) from the society is applicable if the property is located in a co-operative society. Or if the society is not formed, the purchaser needs to obtain the NOC from the builder.
The document should be registered within four months of signing the document. Else, the registrar can complete the formality subject to payment of a fine. The fine cannot exceed 10 times the registration fee.
For registration purposes both the buyer and seller need to be physically present before the sub-registrar or the competent authority. The clerk stamps and numbers the document and forwards it to the registrar for his/her signature.
In most states, a photograph of the buyer and seller is taken along with their thumb impression and/or signature.
The document is then scanned and the buyer gets the original copy the same day. This may vary from state to state, taking three to seven days.
The receipt should be preserved. At any time in the future if a reference need to be made, the original receipt is required to be produced to the registrar.

Some consultants claim to get the market value reduced to save a substantial amount of stamp duty. Is this correct ?
Many people are under the impression that some consultants can help them in reducing the stamp duty. We would like to warm them that this can be done only by furnishing misleading information like lesser area of premises or flat, longer age of building and a building with a lift as not having a lift.

This would prove to be very detrimental and harmful when, in future, they receive a notice from the department for under valuation due to concealment of facts. Even a registered document can be reopened anytime within ten years from the date of registration and adjudicated documents within six years from the date of adjudication. Please note that writing misleading information in the agreement is an offence under the Stamp Act, which is punishable with fine and imprisonment.

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