What stamp duty do I pay for a flat sale agreement in Kurnool under the state stamp act?

Detailed Legal Analysis

The stamp duty payable in Kurnool for a flat sale agreement is governed by Andhra Pradesh Rent Control Act 1960, which sets the schedule of rates and the surcharge applicable to urban immovable property. The duty is calculated on the market value or the agreement value, whichever is higher, and is payable before registration at the Sub-Registrar's office.

The Andhra Pradesh High Court has upheld the state's power to fix duty on market value and to revise circle rates periodically. Under-payment of stamp duty renders the document inadmissible in evidence and attracts a penalty up to ten times the deficit under Andhra Pradesh Rent Control Act 1960.

Always verify the prevailing circle rate with the Sub-Registrar and pay the correct duty before registration to avoid future litigation and penalties.