Agreement To Mortgage- Part Of Home Loan | Vkeel - Free Legal Advice

Narwat

NA

I have applied for a home loan from SBI, Allahabad for construction on my plot of land in Faridabad, Haryana. Currently, I m living in Allahabad. The loan officer tells me that stamp duty payable on Agreement to Mortgage will be 0.5% of loan value (32lakhs) subject to a ceiling of 10000Rs. My friend in Faridabad too has availed home loan for construction on the plot in Faridabad but he did not have to pay this stamp duty of 0.5%of loan value(35lakhs). My bank officer in Allahabad talked to RACPC Faridabad and he got a response that stamp duty in Haryana is only 100Rs. Because my loan is sanctioned already in Allahabad, I can't switch to SBI Faridabad now. I only want to know stamp duty for 'agreement to mortgage' in UP vs Haryana. I have already given my title documents and taken receiving only for submission of documents. Kindly help urgently.

Expert's Answers(3)

Advocate S Srinivasa Prasad
Hyderabad, Telangana

Collection of Stamp Duty is state subject, differs from State to State. However, the Bank is governed guidelines issued by RBI, as such, if the Bank deviates from the said guidelines of RBI, the said Bank / Branch is liable for prosecution. Thus, check with Sub Registrar's office about the same. It is advisable to take assistance of Local Adovcate.

July 23, 2020
Advocate J L Naagar
Jalandhar, Punjab

169 Client Ratings

You can approach the Reserve Bank of India for clarification or contact the Regional Office of the Bank for transfer of laon case. You will get the exact information. Please give me Rank Five and follow me after reviewing my resume and contact me telephonically for further discussion and explanation is required

July 22, 2020
Kishan Dutt Kalaskar 40 years Exp (Retired Judge)
Bengaluru Urban, Karnataka

187 Client Ratings

Please consult local lawyers are concerned Sub Registrar office also check online.

July 22, 2020