You should know about the stamp duty rates in Mumbai and property registration charges in Mumbai prior to applying for your home loan. These costs have to be factored in along with the cost of the property that you wish to purchase. The stamp duty rates are 6% in Mumbai for men, women and male & female joint owners. The stamp duty is based on the registered price of the property and its ready reckoner rate. The rate which is the highest among these two rates will be considered while working out stamp duty.
The ready reckoner rate for apartments/flats in Mumbai range between Rs. 42,000-8,61,000 per sq. mt. Residential land ready reckoner rates range between Rs. 16,500-4,75,500 per sq. mt. Calculate the stamp duty and property registration charges with our easy-to-use stamp duty calculator.
Also Read: Does a Home Loan Cover Stamp Duty and Registration Charges?