Stamp duty is the charge you pay to transfer of the property’s title in your name. The stamp duty on a home loan is charged by the state government and its rates are different in all states. Section 3 of the Indian Stamp Act 1899 requires all who wish to register their properties to make the payment. The stamp duty on a home loan is levied on you by the government to verify your property registration paperwork.

When you pay your stamp duty on a home loan along with the home loan registration charges, a paid tag is pinned to your registration document. It serves as a legal document that declares your ownership of the property in any court of law. Know that you will be unable to lay claim to your property if you owe stamp duty on a home loan. Read on to learn the factors that define the stamp duty on home loans and home loan registration charges. 

A host of factors determine whether your stamp duty on home loan charge will be high or low. Here are those factors:  

• Property Age: The age of the property in question is vital in determining the stamp duty on home loan charges you will pay. The stamp duty on your Bajaj Housing Finance Home Loan will be estimated as a percentage of the property's market value. A quick tip: Old buildings will incur less stamp duty on home loan charges while the reverse is the case for newer buildings. This is because old buildings, without any form of transformation, will depreciate. 
• Owner's Age:  Nearly all state governments have reduced stamp duty on home loans for their senior citizens. So, your age determines the amount you will owe in stamp duty charges. 
• Owner's Gender: Women homeowners, like India's senior citizens, enjoy a discount on their stamp duty on home loan charges. This happens only if her name is used in the property's purchase and registration. About 2% is the difference between the stamp duty charges for men and women.
• Purpose of Property: You will pay higher stamp duty on home loan charges if your property is a commercial building. Commercial buildings rank significantly higher than residential buildings, stamp duty-wise because it is known that a commercial building requires more amenities, such as floor space and upgraded security, like closed-circuit cameras. 
• Property Location: Properties sited in a municipal area or a suburban area should expect higher stamp duty on home loan charges. Buildings on the outskirts of town and city will incur lower stamp duty fees.
• Amenities: The state government is backed by law to levy you on every extra amenity it finds on your property during the registration process. These amenities are not limited to the following: elevators, swimming pools, library, clubs, town halls, and gymnasiums.

Read on to learn more about the home loan registration charges that you owe alongside the stamp duty on home loan. 

Home loan registration charges are the fees not covered by your home loan, like the stamp duty. It is normally 1% of the home’s value. For example, a property bought at the value of Rs.20 lakh will require home loan registration charges of Rs. 20, 000. 

Now that you know what stamp duty is, how it’s determined, here’s how to pay your charges: 

1. Estimate your property's value and calculate the stamp duty due. 
2. Purchase non-judicial stamp papers of the amount due. You can find e-stamp papers online for purchase.
3. Formulate the sale deed by getting the services of an authorized lawyer for representation. 
4. Pay the stamp duty on home loan and home loan registration charges. 
5. Visit the Sub-Registrar's office for registration of your property. 
6. Submit the required documents like the No Objection Certificate (NOC). 
7. Upon verification of the documents, the registration process is deemed complete.

Now you know what stamp duty is and how to pay your stamp duty on home loan charges and home loan registration charges. Be sure to use our online stamp duty calculator to be one step closer to owning your home legally.