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                                              Description of             Amount on which duty
                                               instrument                  should be levied.

                                        (i) Sale of immovable           The market value of the
                                        property.                       property as set forth in the
                                                                        instrument, and in a case
                                                                        where the market value is
                                                                        finally determined by any
                                                                        authority under Section
                                                                        47-A of the Stamp Act, the
                                                                        market value as so
                                                                        determined      by     such
                                                                        authority.
                                        (ii)   Exchange         of      The market value of the
                                        immovable property              property of the greater
                                                                        value as set forth in the
                                                                        instrument, and in a case
                                                                        where the market value is
                                                                        finally determined by any
                                                                        authority under Section
                                                                        47-A of the Stamp Act, the
                                                                        market value as so
                                                                        determined      by     such
                                                                        authority
                                        iii) Gift of immovable          The market value of the
                                        property                        property as set forth in the
                                                                        instrument, and in a case
                                                                        where the market value is
                                                                        finally determined by any
                                                                        authority under Section
                                                                        47-A of the Stamp Act, the
                                                                        market value as so
                                                                        determined      by     such
https://www.mhc.tn.gov.in/judis
                                                                        authority.


                                     (iv)    Mortgage      with        The amount secured by the
                                     possession of immovable           mortgage, as set forth in
                                     property.                         the instrument.
                                     (v) Lease in perpetuity of        An amount equal to one-
                                     immovable property                sixth of the whole amount
                                                                       or value of the rents which
                                                                       would be paid or delivered
                                                                       in respect of the first fifty
                                                                       years of the lease, as set
forth in the instrument