Stamp Duty Calculator
Calculate Stamp Duty and Registration Charges
The Bajaj Housing Finance Stamp Duty Calculator is a handy online tool you can use to get an estimate of the stamp duty charges you are liable to pay when you buy a property in any given state.
Stamp duty and property registration are charges you must bear when purchasing a property. Thus, knowing an estimate beforehand can help you plan better, enabling you to set the sum aside.
Our Stamp Duty Calculator is easy to use and free to access. Simply enter your state of residence and the value of the property, and the total payable amount will be shown to you instantly.
What is a Property Registration Charge?
A registry of property documents is maintained by the government against a certain amount of fee charged from the buyers. This fee is known as the registration charge. Stamp duty is a fee levied by the state government based on the transaction value of a property, while property registration charges are the sum a property owner pays to the government for the service of putting the documents in the government record. Generally, buyers have to pay 1% of the total market value of the property as the property registration fees. However, in some states, the rate is levied as per the property.
How are Stamp Duty and Registration Charges Calculated?
Stamp duty rates are decided by the state government and, therefore, they differ across the country, varying from 3% to 10% of the property value. Factors that affect stamp duty rates are the location of the property, age and gender of the owner, usage of the property, and the property type. To know the approximate amount you are liable to pay, use our stamp duty calculator.
Apart from the stamp duty on property, you need to pay registration charges, which are usually levied by the Central Government and fixed across the state. Generally, 1% of the property’s total market value is charged as the registration charge.
For example, if a person would like to buy a property worth Rs.60 lakh in Delhi where the stamp duty rate is 6%, s/he has to pay Rs.3.6 lakh as stamp duty and Rs.60,000 as the registration charge. Stamp Duty Calculators in India come handy in calculating the exact stamp duty one has to pay if they wish to buy any property in their desired location.
Are Property Registration Charges Included When Taking a Home Loan?
Since stamp duty and registration charges are above the cost of the property, they are not included in a Home Loan sanction. The amounts have to be borne by the buyer and, thus, it is recommended that prospective homeowners plan well in advance before getting a Home Loan in India.
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Tax Benefit on Stamp Duty and Registration Charges
Stamp duty and registration charges are allowed for tax exemption under Section 80C of the Income Tax Act. You can claim this exemption while filing your income tax returns and can enjoy a tax rebate of a maximum amount of up to Rs.1.5 Lakh.
In the case of joint owners, co-owners can file in their respective income tax returns based on their shares in the property. However, the upper limit of Rs.1.5 Lakh under section 80C shall apply here as well.
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How to Pay Stamp Duty Charges
Stamp duty is a tax one has to pay during the transaction of any property for the legal evidence of the act. Homebuyers can complete the payment of stamp duty online as well as offline by following any of the mentioned methods:
Physical Stamp Paper: One of the most common and error-free methods of paying stamp duty is a physical stamp paper, which homebuyers can purchase from authorised sellers. The required information about the property registration is mentioned in this paper. Here, the cost of this stamp paper is equal to the stamp duty applicable. Do note that if the stamp duty is high, this method might be inconvenient as you will have to buy multiple stamp papers.
Franking: You can also use franking to pay stamp duty. For this, you will need to reach out to an authorised franking agent who will provide a stamp on your property document to legalise it. Most banks/lenders offer franking agent services to homebuyers. If you use this method, you will have to pay the minimum charge and an additional franking charge, which is levied by the agent.
E-stamping: One of the most convenient ways to pay stamp duty is e-stamping, which can be completed online through the SHCIL website (Stock Holding Corporation of India). Visit the website, click on 'Products and Services' > 'e-Stamp Services' > 'e-Stamping.' On the next page, select the state in which the property is located. Note that this service is only offered in some states and your state will appear only if the service is available. Then, proceed to fill out the application form and download it. You will now need to submit the form to the collection centre with the mentioned amount. Once the amount is paid, you will receive an e-stamp certification with UIN.
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Documents Required for Payment of Stamp Duty and Registration Charges
If you are a homebuyer, you will need to produce the following documents at the time of registration of property and paying stamp duty:
- Sale Agreement
- Sale Deed
- Khata Certificate
- In case of a housing project, you will need to provide a photocopy of the society share certificate, society registration certificate, and NOC from the apartment association
- In case of an under-construction property, you will need to produce a sanctioned building plan, builder-buyer agreement, and possession letter from the builder
- In case of a land purchase, you will need to provide title documents of the landowner, records of right and tenancy corps, or the 7/12 extract and conversion order
- In the case of a joint development property, you should have registered a development agreement and joint development agreement between the landowner and builder
- In the case of a resale property, copies of all registered agreements are needed
- Receipt of tax paid for the last three months
- Latest bank statements
- Encumbrance certificate
- Power of attorney/s, if applicable
These rates are indicative and remain subject to change depending on the laws and government guidelines, 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.
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.
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Stamp Duty Calculator FAQs
The stamp duty charges differ from state to state and is usually based on the local ready reckoner rate/circle rate – published by the relevant municipal authority. This is also why there is no one blanket stamp duty that one pays, and instead is a percentage of the property’s value.
Homebuyers are expected to pay their stamp duty charges at the time of registering their property with the correct government authority. Following stamp duty and property registration payment, your property ownership will be deemed complete.
Stamp duty is a legal obligation that all homebuyers and owners are expected to pay to the government, as a cost of purchasing a property. There are strict legal implications for individuals who attempt to evade it. However, homebuyers do have the option of registering their properties in the name of a female owner, to benefit from stamp duty rebates in select Indian states.
Stamp duty is what you pay to the government as a cost of owning a property, as a one-time expense. This cost is not refundable, as it is levied on a transaction.
The GST you pay on your property purchase is separate from the stamp duty charges you’ve obliged to bear. Usually, GST is levied on under-construction properties, and stamp duty is levied on the transfer of ownership.
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