Just like any other state and Union Territory in India, property buyers in Lakshadweep must also pay stamp duty to register property transfers using various legal instruments. However, when compared to most states and UTs, stamp duty here is quite low.
See also: Stamp duty in Ayodhya in 2024
Stamp duty on sale deed in Lakshadweep 2024
| Owner | Stamp duty |
| Woman buyer | 6% of the market value of the property |
| Joint woman and male buyers | 7% of the market value of the property |
| Others | 8% of the market value of the property |
Stamp duty on conveyance deed in Lakshadweep 2024
| Owner | Stamp duty |
| Woman buyer | 6% of the market value of the property |
| Joint woman and male buyers | 7% of the market value of the property |
| Others | 8% of the market value of the property |
Stamp duty on exchange deed in Lakshadweep 2024
| Owner | Stamp duty |
| Woman buyer | 6% of the market value of the property |
| Joint woman and male buyers | 7% of the market value of the property |
| Others | 8% of the market value of the property |
Stamp duty on gift deed in Lakshadweep 2024
| Owner | Stamp duty |
| Woman buyer | 6% of the market value of the property |
| Joint woman and male buyers | 7% of the market value of the property |
| Others | 8% of the market value of the property |
Stamp duty hike move by Lakshadweep in 2021
Before a steep hike was announced in 2021, Lakshadweep charged a uniform stamp duty of 1%, irrespective of the property ownership.
However, in a notification issued on May 5, 2021, the Lakshadweep Administration increased the stamp duty on property transfers from a unified duty of 1% to 6% for women buyers, 7% for joint ownership between a man and a woman, and 8% for other buyers. The new rates were applicable on registration of conveyance, gift, exchange, transfer, sale, etc.
Following this, the Kerala High Court in July 2021 passed an interim stay on the order of three weeks while delivering an order in the Advocate Mohammed Salih PM Versus Union of India and Others case.
In his petition, Salih said the move to hike the stamp duty violated the Indian Stamp Act and The Laccadive, Minicoy and Amindivi (Protection of Scheduled Tribes) Regulation, 1964.
However, the Lakshadweep Administration in September 2021 put in the public domain the Draft Indian Stamp (Lakshadweep Amendment) Regulation, 2021. After 30 days, the draft’s provisions came into effect, along with the stamp duty hike.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
An alumna of the Indian Institute of Mass Communication, Dhenkanal, Sunita Mishra brings over 16 years of expertise to the fields of legal matters, financial insights, and property market trends. Recognised for her ability to elucidate complex topics, her articles serve as a go-to resource for home buyers navigating intricate subjects. Through her extensive career, she has been associated with esteemed organisations like the Financial Express, Hindustan Times, Network18, All India Radio, and Business Standard.
In addition to her professional accomplishments, Sunita holds an MA degree in Sanskrit, with a specialisation in Indian Philosophy, from Delhi University. Outside of her work schedule, she likes to unwind by practising Yoga, and pursues her passion for travel.
sunita.mishra@proptiger.com
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