PANAJI: On Wednesday, the state government introduced a bill aimed at reducing the stamp duty burden on mortgagors for properties mortgaged without possession. The bill also seeks to promote the registration of family trust deeds.
According to the Indian Stamp (Goa Amendment) Bill, 2025, the proposed reduction in stamp duty for mortgages and trusts may impact state revenue, but the exact loss cannot be quantified at this time. This initiative is part of a broader effort to rationalize stamp duty on such instruments.
The bill establishes a stamp duty of Rs 1,000 for mortgage deeds, excluding certain agreements (e.g., title deeds, pawn or pledge, etc.) when possession is either given or agreed upon by the mortgagor.
In addition, a stamp duty of Rs 500 will apply for collateral, auxiliary, or substituted securities, provided the principal security is duly stamped.
Exemptions are included for instruments executed by those receiving advances under the Land Improvement Loans Act, 1883, or the Agriculturists Loans Act, 1884, as well as their sureties securing repayment.
For trusts created for religious or charitable purposes, the stamp duty will be calculated at Rs 10 for every Rs 500 (or part thereof) settled, or based on the market value of the property involved.
If the beneficiaries are close relatives (e.g., parents, siblings, spouse, children), a flat stamp duty of Rs 5,000 will be required. In all other cases, the stamp duty will align with the conveyance rate based on the amount settled or the market value of the property.
