If you are buying a new property, you will have to pay a fee called stamp duty, which is levied by the state government. This fee is used to validate the registration of your property in your name, and legalise your property ownership document. Without paying stamp duty on the property registration document, you will not be considered a legal owner of the property in question.
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:
• The market value of the property
• Type of property, along with the number of floors
• The intended usage for the property, whether residential or commercial
• Location of the property
• Age and gender of the property owner
As a rule, stamp duty and registration charges are not included in the home loan amount sanctioned by lenders. This is an out-of-pocket expense to be borne by the buyer.
|States||Stamp Duty Rates*|
|Haryana||Males - 7%
Females – 5%
|Karnataka||5% (Consideration Above Rs 35 lakh)
3% (Consideration between Rs 21-35 lakh)
2% (Consideration Less than Rs 20 lakh)
|Madhya Pradesh||9.5 %|
|West Bengal||Upto Rs 40 lakh - 7%
Above Rs 40 lakh - 8%
* Registration Charges as applicable have to be paid in addition to the Stamp Duty
These rates are indicative and remain subject to change depending on the laws applicable at the time being. Customers are advised to seek independent legal advice before acting on the basis of the information contained in the Website and shall always be sole responsibility and decision of User. 4. In no event shall BHFL or the Bajaj Group or any of its agents or any other party involved in creating, producing, or delivering this Website shall be liable for any direct, indirect, punitive, incidental, special, consequential damages (including lost revenues or profits, loss of business or loss of data) or any damages whatsoever connected to the User’s reliance on the aforementioned information
Yes, stamp duty can be claimed as a tax deduction under Section 80C of the Income Tax Act, up to a maximum limit of Rs. 1,50,000.
No, stamp duty is not refundable.
So far, stamp duty and GST are separate charges levied on the sale of a property, and as such have no impact on each other.
Stamp Duty and Property Registration Charges in Mumbai
Stamp Duty and Property Registration Charges in Delhi
Stamp Duty and Property Registration Charges in Chennai
Stamp Duty and Property Registration Charges in Bangalore
Stamp Duty and Property Registration Charges in Kolkata
Stamp Duty and Property Registration Charges in Hyderabad
Stamp Duty and Property Registration Charges in Pune
By clicking on the ‘I Agree’, the applicant(s) hereby agree and acknowledge that each applicant