Stamp Duty rate for you is 5.00%
Stamp Duty is the tax levied by the State government on transactions concerning the sale of property/ property ownership. Under Section 3 of the Indian Stamp Act 1899, an individual is required to pay stamp duty on property that they have acquired. Although, in the case of property exchange both parties are liable to share the stamp duty equally. The Stamp duty on commercial property and residential property is a type of indirect tax which works as an acknowledgement of the sale/purchase of the concerned property between buyers and sellers.
The amount on the stamp duty levied is with respect to the state and locality where the property is located. Stamp duty is an important attestation and the payment of such shall be met with punctuality. Any delay in the payment shall attract a monthly penalty of anywhere between 2% and 200%. You can calculate this payment using the various stamp duty calculator online.
The individual who is set to execute the instrument is required to pen down the initials of their name across the stamp to cancel it. If they fail to execute it properly, the instrument would lose its admissibility in court, and would be considered ‘unstamped.’ As for information, the stamp duty on commercial property will be levied differently from that on residential property.
The stamp duty on property generally revolves around 5-7% of the current market value. It is variable to the state in which the property is located. The registration fee is 1% of the market value of the property. There are multiple stamp duty and registration calculators available to make it easy for you. There are several factors which determine the amount of stamp duty which is to be levied on the property transaction such as using the stamp duty calculator India for finding the value:
Using the stamp duty calculator India is the easiest way to compute the amount. These stamp duty and registration calculators are fast. Moreover, the stamp duty calculator online will only ask you for a few pieces of information like the value of the property, state, area, and more for calculation.
| City | Stamp Duty Rates on Properties |
|---|---|
| Delhi | Male: 6% Female: 4% |
| Banglore | Properties valued upto Rs 45 Lakhs: 3% Properties valued above Rs 45 Lakhs: 5% |
| Mumbai | Male: 5% Female: 4% |
| Chennai | 7% |
| Pune | Male: 6% Female: 5% |
| Hyderabad | 4 % |
| Kolkata | Property valued at or less than 25 Lakhs: 4% Property valued at or more than 40 Lakhs:5% |
The stamp duty charge is payable by the buyer of the property.
You can use our free online stamp duty calculator. Simply enter the required details and get the estimations within minutes.
Yes, stamp duty payment offers a tax exemption under Section 80C of the Income Tax Act. However, the maximum exemption, including other expenses, cannot exceed Rs 1.5 lakhs, as per the law.
No, stamp duty is not generally refunded. It is supposed to be paid at once in full.
No, home loans do not cover these charges. These charges are to be separately borne by the buyer,
The penalty for untimely payment of stamp duty starts at 2% per month and can go as high as 200% of the total payable amount.
| City | Stamp Duty Charge | Registration Charge |
| Mumbai | 5%-6% | 1% |
| Delhi | 4%-6% | 1% |
| Kolkata | 6%-7% | 1% |
| Chennai | 7% | 4% |
| Bengaluru | 2%-5% | 1% |
| Hyderabad | 5% | 0.50% |
| Ahmedabad | 4.90% | 1% (No charges for females) |
| Pune | 5%-6% | 1% |
