Stamp Duty Calculator
Stamp Duty and Registration Charges Calculator
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.
In India, almost all property transactions are embedded with a certain amount of stamp duty. This is a tax levied by the respective state government on the transfer of real estate and can range from 3% to 7% of the property value.
There are some states which offer concession on stamp duties especially for female home buyers. While some states levy additional charges in the form of metro cess. Therefore, it is always recommended to use a stamp duty calculator to calculate the stamp duty of a property in a particular state beforehand and get a better estimation of the same.
Steps to Use Stamp Duty Calculator_WC
How to Use the Stamp Duty Calculator Online?
If you are planning to purchase property in India, the first question that comes to mind is how to calculate stamp duty. Do not worry, our stamp duty calculator is quite simple and straightforward to calculate stamp duty charges online. Follow these steps to calculate the property registration charges.
Step 1: Enter your state
Step 2: Use the slider to enter your property value
Step 3: Stamp duty and interest rate will be displayed
What are Stamp Duty and Property Registration Charges?
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.
Check the following example to know how to use the stamp duty calculation formula:
Cost of the property: Rs.60 lakh
Stamp duty rate in Delhi: 6%
Stamp duty payable: 6% of Rs.60 lakh = Rs.3.6 lakh
Registration charges payable: 1 % of Rs.60 lakh = Rs.60,000
Here, the total amount payable on stamp duty and registration charges will be Rs.4,20,000
Advantages of Using Stamp Duty Calculator_WC
Advantages of Using an Online Stamp Duty Calculator
The Stamp Duty and Property Registration Charges Calculator gives you an accurate state wise calculation for all property values up to Rs.10 Crore. By calculating the values beforehand, you can expect the expenses you may incur.
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.
Tax Benefit on Stamp Duty and Registration Charges_WC
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.
How to Pay Stamp Duty Charges_WC
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.
Stamp Duty Charges in Various Cities in India_WC
Stamp Duty Charges in Various Cities in India
|State||Stamp Duty Rate|
|Haryana|| Male: 7% |
|Karnataka|| 5% (Above Rs. 35 lakh) |
3% (Above Rs. 21-35 lakh)
2% (Less than Rs. 20 lakh)
|Odisha|| Male: 5% |
|Punjab|| Male: 7% |
|West Bengal|| 7% (Up to Rs. 40 lakh) |
8% (Above Rs. 40 lakh)
|Rajasthan|| Male: 7% |
|Chhattisgarh|| Male: 7% |
Documents Required for Payment of Stamp Duty and Registration Charges_WC
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
Tips to Save Stamp Duty Charges
Tips to Save Stamp Duty Charges
Here are some tips to achieve this:
- Joint Ownership: Consider joint ownership with a family member or spouse. The stamp duty liability is shared between both parties, reducing the overall cost.
- Research Stamp Duty Rates: Different states in India have varying stamp duty rates. Consider purchasing property in a state with lower stamp duty charges.
- Home Loan: You can claim a deduction on the stamp duty and registration fees under Section 80C of the Income Tax Act, 1961, if you take a home loan to purchase the property.
- Registration Under the 'Women as Co-Owners' Category: Some states offer reduced stamp duty rates for female property owners.
Always ensure compliance with legal and regulatory requirements while considering these tips to reduce stamp duty charges when purchasing a property.
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 value_FAQ_WC
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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