Chapter VIII, Section 147- Duty on Transfer of Property

The Corporation has the power levy duties on the transfer of immovable property in Delhi.

The Corporation has the power to levy stamp duty under the Indian Stamp Act, 1899 (2 of 1899), on the amount recorded on the instruments listed below. The stamp duty must not exceed 5 percent of the amount specified on these instruments.

(Note- section 64 of the same Act shall be read as if it referred to the Corporation as well as the Government.)

  1. Sale of immovable property- The amount or value of the consideration for the sale, recorded on the instrument.
  2. Exchange of immovable property- The value of the property of the greater value, recorded on the instrument.
  3. Gift of immovable property- The value of the property, recorded on the instrument.
  4. Mortgage with possession of immovable property- The amount secured by the mortgage recorded on the instrument.
  5. Lease in perpetuity of immovable property- The amount equal to one-sixth of the whole amount or value of the rent which would be paid in the first fifty years of the lease as recorded on the instrument.