No need for Transit visa
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Since you don’t plan to leave the airport, transit visa is not required.
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From what I gathered is, if you move out of the airport that too beyond 12 hours definitely a transit visa is needed. When I travelled to Europe my layover in Abu Dhobhi was for more than 12 hours. They asked only for Schengen visa. I personally feel once more you must do a small check with airport and airlines authorities.
Thanks so much for your response. I was reading on different travel forums that if your transit was longer than 12 hours then you would require a 'transit visa'.