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What is Stamp Duty?
Factors that Define the Stamp Duty on Home Loan
What are Home Loan Registration Charges?
What is the Stamp Duty Calculator
How to Pay Your Stamp Duty on Home Loan
While applying for your home loan, the focus is often on the loan amount which, after
approval by your lender, would set
you up to buy the property of your choice. However, are you aware that when you pay for the
home, that's not all that
you have to pay for? There are several other costs that are billed to you, including that of
the stamp duty.
In many Indian states, stamp duty on home loans can amount from 5% to 7% of the property's
actual value, while the home
loan registration charges can reach 1%. Know that while your Bajaj Housing
Finance home loan
provides you with 75 to 80%
of the property’s market worth, it doesn’t in any way cover the stamp duty on home loan and
home loan registration
You only complete the property purchase process when you pay all outstanding fees, stamp
duty included. In this article,
you’ll learn what stamp duty is, how to use the Stamp Duty Calculator, the stamp duty rates for your state, and
pay your stamp duty on home loans.
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:
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
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.
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