Stamp Duty Calculator

When taking a home loan, there are a host of expenses involved beyond the cost of the house itself. Stamp duty and registration charges are among the extra charges that need to be paid when you register ownership of your new house. Our stamp duty calculator is designed to help you accurately assess the amount of stamp duty you will have to pay towards your property, so that you know exactly how much home loan you need.

The cost of stamp duty is generally 5-7% of the property’s market value. Registration charges tend to be 1% of the property’s market value. As such, these charges can run into lakhs of rupees. To avoid any shortfall in funds when buying your home and registering the property in your name, ensure that you also requisition for the stamp duty and registration charges when you apply for the home loan amount.

There are several factors that determine the exact amount of stamp duty you will need to pay. These are:

• Market value of the property
• Type of property, along with the number of floors
• Intended usage for the property, whether residential or commercial
• Location of the property
• Age and gender of the property owner

You can pay stamp duty online, or offline, via one of the following methods:

• Physical Stamp Paper:
This is the most common way of paying stamp duty. Stamp paper can be bought from authorised sellers. The details of the property registration or agreement are then written on this paper. However, if the stamp duty charges are high, then this method becomes inconvenient as you will need to purchase a number of stamp papers.

• Franking:
In this method, you need to go to an authorised franking agent, who will apply a stamp to your property documents, indicating that the stamp duty has been paid. There is usually a minimum amount required in order for this method to be used. In addition, a franking charge is levied by the agent, which is then deducted from the overall stamp duty that you have to pay. Most banks offer franking agent services to home buyers.

• E-stamping:
E-stamping is the most convenient way to pay stamp duty charges, as you can do so online via the SHCIL website (Stock Holding Corporation of India). Simply visit the website, select the state in which your property is located, fill out the application form, and submit it to the collection centre along with the funds required. Once you have paid the amount, you will get an e-stamp certificate with a Unique Identification Number (UIN).