What is property transfer tax?

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The government levies a tax when there is a transaction of property (i.e., when a property changes hands, from the seller to the buyer). This tax is known as 'stamp duty'. Stamp duty on registration of various instruments is imposed under the provisions of the Indian Stamp Act, 1899.

General property transfer tax rate · Further 2% tax on residential property over $3,000,000 · Additional property transfer tax (ATT) at 20%.

A transfer tax is charged by a state or local government to complete a sale of property from one owner to another. · The tax is typically based on the value of the