Stamp duty charges in Thane

Thane is in the western part of Maharashtra and falls in the extended region of the Mumbai Metropolitan Region. Over the recent past, Thane has emerged as a popular residential suburb and an industrial area, with many Indians migrating to the city for exciting employment opportunities. Therefore, it is not very surprising that the property prices in the area have been increasing significantly. For those who are in the market for a new property, here is the stamp duty break-up for Thane.

What are the stamp duty charges in Thane?

The state of Maharashtra charges 6% of the total value of a property as stamp duty on residential properties. This includes 7% stamp duty and 1% local body tax. However, women buyers in Maharashtra get some exemption on the stamp duty to be paid, paying only 7% as stamp duty charges. This includes 4% stamp duty and 1% local body tax. In the case of homes jointly owned by a male and a female, the owners must pay 6% of the total value of the home as stamp duty. However, for homes jointly owned by females, owners are required to pay only 7% of the property value as stamp duty charges.

Factors that determine stamp duty charges in Thane

Several different factors affect stamp duty charges in Thane, which have been listed below for your perusal.

Property age

Since newer properties are more expensive, the stamp duty on them also comes out to be higher.

Owner’s age

Senior citizens in Thane and around the country are required to pay lower stamp duty charges, as opposed to younger buyers.

Owner’s gender

Women owners are liable to pay lesser as stamp duty charges, compared to their

Property type

Commercial properties attract higher stamp duty than residential properties.

Property Location

Properties located in the centre of the city are more expensive. Since stamp duty is directly dependent on the value of the property, properties located in the city centre attract higher stamp duty.

Amenities offered

Buildings with a higher number of amenities draw higher stamp duty than buildings with a lesser number of amenities.

How the property registration charges calculated in Thane?

Though women get to pay lower stamp duty charges in Thane, both men and women must pay equal registration charges. Owners, irrespective of their gender, are required to pay 1% of a property's value as registration charges if the property is valued at Rs. 30 lakh and above. For properties valued at less than Rs. 30 lakh, one must pay a flat registration fee of Rs. 30,000.

How is stamp duty calculated in Thane?

Calculating stamp duty in Thane is easy. The government of Maharashtra charges 6% of a property's value as stamp duty. However, women owners are required to pay only 7% of the property value. Let us understand this with an example. 

If Mr. Deshpande buys a property worth Rs. 1 Crore, he must pay Rs. 6 lakh as stamp duty to the government of Maharashtra. However, if he buys the property in his wife's name, he will be required to pay only Rs. 5 lakh as stamp duty. If you are not sure about how to calculate stamp duty, you can always use a stamp duty calculator to calculate stamp duty charges in Thane.

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