Per government sources, SSD is based on the consideration or market value of the property (whichever is higher). The duty will be charged at a rate dependent on how long the property has been held by the seller/transferor as well as when the property was acquired.

 

If acquired between November 20th 2010 and October 26th 2012, the duty will be charged at the corresponding rates:

 

a. 15% - if the property is held less than 6 months

b. 10% - if the property is held between 6 months – 1 year

c. 5% - if the property is held between 1-2 years

If acquired on or after October 27th 2012, the duty will be charged at the corresponding rates:

 

a. 20% - if the property is held less than 6 months

b. 15% - if the property is held between 6 months – 1 year

c. 10% - if the property is held between 1-3 years