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Modt registration charges in tamilnadu
MODT (Memorandum of Deposit of Title) refers to the process of recording a mortgage as security against real estate in Tamil Nadu. Here is a brief description of the fees involved:
Stamp Duty: This is a percentage of the credit paid to the government. The current tax rate in Tamil Nadu is 0.5% with capital of €30,000. This is also a percentage of the loan, but at a lower rate. The current rate is 1% and the value is 6,000 Euros. Depending on the borrower, additional fees such as attorney's fees or processing fees may apply.
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