Stamp duty and registration charges in india

Stamp Duty & Registration Charges in India
Aggregated and Prepared by: www.nirrtigo.com
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Stamp duty:
Real Estate Stamp duty is a type of tax accumulation by the Government of India.
Stamp duty is established on the agreement value or on the market value whichever is
greater for buying a piece of Real Estate in India.
Registration:
The process of registration involves the submission of transaction documents (copies) to
the required governmental officer for preservation. Once the stamp duty has been paid
on a document, it has to be registered under the Indian Registration Act (1908) with the
Sub-Registrar of Assurances of the locality of the property. Unless this procedure is
completed, the investor does not have full ownership of the property.
The original copy as well as two photocopies of the document must be submitted to the
Sub-Registrar of Assurances. The procedure also includes a registration fee for
properties costing more than Rs. 30,000, which is fixed at 1% of the market value or the
agreement value, whichever is higher. Once again the value is subject to change. The
procedure can only be completed under the presence of two eye-witnesses. When a
receipt with a distinct serial number is issued, the procedure is complete.

Stamp Duty and Registration charges across various states in India:
* In Maharashtra: It Gives stamp duty for residential premises situated within
Municipal Corporation of Greater Mumbai, Pune, Thane & Navi Mumbai
Source: Stamp Duty and Registration Charges in India
http://www.nirrtigo.com/UserDocuments/Stamp_Duty_Registration_Charges

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Stamp duty and registration charges in india

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