Stamp Duty Registration Charges for all States PDF
Stamp Duty Registration Charges for all States 2024 PDF: When purchasing real estate, buyers are required to settle taxes like stamp duty and registration fees to officially record the property under their name. The payment of stamp duty serves as proof of the legal transfer of ownership between the parties involved. Our Site cgsn.in provides insights into the prevailing stamp duty rates across various Indian states and outlines how to calculate them.
Stamp duty and registration fees are essential taxes that homebuyers must remit to local authorities for property registration. Each state imposes its own rates for these charges. Continue reading below to gain a deeper understanding of the stamp duty calculator and the current rates for stamp duty and registration across India in 2024.
What is Stamp Duty on the Property?
Emerging in the late 1800s, Stamp Duty in India is a tax imposed on homebuyers during property transactions. This charge is applied by the State government to various forms of real estate, encompassing freehold and leasehold units, land (both agricultural and non-agricultural), standalone houses or villas, as well as residential flats and commercial spaces.
Current Stamp Duty Registration Charges Across States – 2024
Recognizing the significance of real estate stamp duty is essential, and it’s equally important to grasp how to compute it. A stamp duty calculator can assist you in determining the applicable stamp duty fees. You might encounter numerous questions online regarding the process of assessing the stamp duty value for properties in India. Below, you’ll find a comprehensive list of stamp duty and registration fees categorized by state, which will provide clarity on the current rates in your area.
| States | Stamp Duty Rates | Stamp Duty Registration Charges |
|---|---|---|
| Andhra Pradesh | 5% | 0.5% |
| Arunachal Pradesh | 6% | 1% |
| Assam | 8.25% | |
| Bihar | Male to Female – 5.7% Female to Male – 6.3% Other cases – 6% | 2% |
| Chhattisgarh | 5% | 4% |
| Goa | Upto Rs 50 lakh – 3.5% Rs 50 – Rs 75 lakh – 4% Rs 75 – Rs 1 crore – 4.5% Over Rs 1 crore – 5% | 3% |
| Gujarat | 4.90% | 1% No charges for female |
| Haryana | For male – 7% in urban areas For female – 5% in urban areas | Upto Rs 50,000 |
| Himachal Pradesh | 5% | 4% for female (till Rs 80 lakh) 8% for female (above Rs 80 lakh) 6% for male (till Rs 50 lakh) 8% for male (above Rs 50 lakh) |
| Jammu and Kashmir | 5% | |
| Jharkhand | 4% | 3% |
| Karnataka | 5% (above Rs 45 lakh) 3% (Rs 21-45 lakh) 2% (Less than Rs 20 lakh) | 1% |
| Kerala | 8% | 2% |
| Madhya Pradesh | 7.50% | 3% |
| Maharashtra | 6% for male 5% for female | 1% |
| Manipur | 7% | 3% |
| Meghalaya | 9.90% | |
| Mizoram | 9% | |
| Nagaland | 8.25% | |
| Odisha | 5% (Male) 4% (Female) | 2% |
| Punjab | 7% (Male) 5% (Female) | 1% |
| Rajasthan | 5% (Male) 4% (Female) | 1% |
| Sikkim | 4% + 1% (in case of Sikkimese origin) 9% + 1% (for others) | |
| Tamil Nadu | 7% | 4% |
| Telangana | 5% | 0.50% |
| Tripura | 5% | |
| Uttar Pradesh | Male – 7% Female – 7%-Rs 10,000 | 1% |
| Uttarakhand | Male – 5% Female – 3.75% | 2% |
| West Bengal | Upto Rs 1 crore – 6% Above Rs 1 crore – 7% | 1% |
In addition to stamp duty fees, you will encounter property registration costs when purchasing real estate in India. Much like stamp duty, these registration fees differ from one state to another. Typically, the rates for property registration range from 0.5 percent to four percent nationwide, based on the specific tier established by the respective state.
How to Calculate Stamp Duty Registration Charges in India?
When determining stamp duty for residential properties, the assessment is based on the greater value between the Ready Reckoner Rate and the property value specified in the agreement. For example, if the Ready Reckoner Rate for a unit stands at Rs 80 lakh while the agreement states a value of Rs 60 lakh, the stamp duty will be calculated using the higher amount of Rs 80 lakh.
It’s important to note that stamp duty rates can differ significantly across various states in India. Additionally, even within a single state, the rates may vary depending on whether the property is located within municipal corporation boundaries, under a municipal council, or in a gram panchayat area. The calculation of stamp duty on land takes into account multiple factors, and some states offer reductions for agricultural land compared to non-agricultural land.
What are some factors that help in calculating stamp duty charges in India?
The rate for stamp duty will be determined by the property’s classification—whether it is an old or new unit. Additionally, the property’s location plays a crucial role in establishing stamp duty fees. These charges vary depending on the jurisdiction, which could include urban, rural, metropolitan, or suburban areas.
Furthermore, demographic factors such as age and gender influence the applicable rates. In certain states, senior citizens and women are eligible for rebates and discounts on stamp duty. The intended use of the property is also a significant aspect considered when setting the final stamp duty rate.
What are the documents which require stamp duty?
Stamp duty applies to various important documents associated with real estate dealings, including the following:
- Transfer instruments
- Gift deed
- Power of attorney
- Lease deed
- License agreement
- Exchange deed
- Deed of partition
- Mortgage deed
- Sale certificate
- Tenancy agreement
- Reconveyance deed
When to pay stamp duty?
Stamp duty comes into play when a property is registered via a sale deed, conveyance deed, or gift deed. Payment can be made either during the execution of these documents or beforehand. Alternatively, it is also possible to settle it on the day following the document’s execution.
What are the penalty charges for late payment of stamp duty?
Postponing the payment of stamp duty incurs a monthly penalty of two percent, potentially accumulating to a staggering 200 percent on any outstanding amount owed. Stamp papers must be registered under the name of either the seller or the buyer participating in the property transaction; neglecting this requirement will result in the stamp paper becoming invalid. Additionally, the stamp duty remains effective for six months from the date of purchase, provided it is settled promptly.
Why do you pay stamp duty?
Stamp duty is a fee required to establish legal proof of property ownership. After you have chosen the property you wish to acquire, the following action is to officially register it under your name in the local records and settle the corresponding stamp duty fees associated with the transaction. This proactive measure will help you avoid potential legal disputes down the line. In India, conflicts over land purchases are quite common. Therefore, it is wise to promptly pay the stamp duty when buying land.
How to apply for stamp duty refund?
Every state has its own distinct process for requesting a stamp duty refund. If a sales deed is canceled, buyers of the property may claim back 98 percent of the stamp duty they have already paid by filing a refund application. To finalize the refund registration, applicants must attach both the original agreement and the cancellation deed to their application. For further assistance and information, it is advisable for applicants to contact the closest sub-registrar’s office.