Stamp duty charges in Gurgaon
Gurgaon or Gurugram is one of the most expensive cities in the country. If you are planning to buy property in Gurugram, know that under the Registration Act, 1908, buyers must pay registration and stamp duty charges when buying a property in the city. Here, we give you all the information you need about stamp duty and registration charges in Gurgaon.
Details of stamp duty charges in Gurgaon
In Gurgaon, the stamp duty to be paid by the buyer depends on the gender of the owner and the location of the property. For properties located within municipal limits, male owners are required to pay 7% and women owners are required to pay 5% of the property value as stamp duty. However, for properties located outside the Gurugram municipal limits, male owners must pay 5% and female owners must pay 3% of the property value as stamp duty.
Important factors that weigh on stamp duty charges
Here are the factors that affect stamp duty charges in Gurugram.
Age of the property
Stamp duty charges are directly proportional to the value of a property. Since newer properties are more expensive, they draw higher stamp duty and registration charges in Gurgaon.
Age of the owner
Senior citizens in Gurgaon and everywhere else in India are required to pay lower stamp duty than younger homeowners.
Gender of the owner
In Gurgaon, women are required to pay lower stamp duty than men. There is a difference of 2% in stamp duty paid by men and women.
Property type
Commercial properties attract higher stamp duty than residential properties, given the former’s potential return on investment.
Location of property
Properties located in posh locations are expensive and therefore, attract higher stamp duty. On the other hand, properties located on the outskirts of Gurugram attract lower stamp duty.
Amenities
Buildings with a higher number of amenities, such as a swimming pool, gym, etc., draw higher stamp duty than buildings with basic amenities.
How are property registration charges calculated in Gurgaon?
While in most parts of India, property owners are expected to pay 1% of the total property value as registration charges, norms are different in Gurgaon. In Gurgaon, the state government charges flat registration charges based on the value of the property. If the property you are buying is valued between Rs. 50,000 and Rs. 5 lakhs, you will have to pay Rs. 1,000 as registration charges. Properties valued between Rs. 5 lakhs and Rs. 10 lakhs draw a flat registration fee of Rs. 5,000. Properties valued between Rs. 10 lakhs and Rs. 20 lakhs, draw a registration fee of Rs. 10,000 and properties valued between Rs. 20 lakhs and Rs. 25 lakhs draw a flat registration fee of Rs. 12,500. Properties priced above Rs. 25 lakhs draw a flat registration fee of Rs. 15,000.
Stamp duty calculation in Gurgaon
Calculating stamp duty in Gurgaon is quite easy. For properties located within municipal limits, male owners are required to pay 7% of the total value of the property as stamp duty. Female owners, on the other hand, are required to pay 5% of the total value of the property as stamp duty. For properties located outside the municipal limits, male owners are required to pay 5% and female owners are required to pay 3% of the property value as stamp duty. You can always use a stamp duty calculator, if you are not sure how to calculate stamp duty in Gurgaon.
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