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.
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
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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
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