Question: How Stamp Duty And Registration Is Calculated?

Stamp duty ranges from three per cent to 10 per cent, depending on the slab decided by the particular state.

The onus of paying the stamp duty, normally vests on the buyer of the property.

Stamp duty is calculated on the higher value, between the ready reckoner rate (circle rate) and the agreement value of property.

How is stamp duty and registration fees calculated?

The Fees. The fee for property registration is payable over and above the stamp duty. The registration fee is applicable in case of properties that cost over Rs. 30,000. This fee is usually calculated at 1% of the agreement value or the market value, whichever is lower.

How is the registration charges calculated for a property?

Ready Reckoner Rate is the minimum value of the property that is fixed by the state government. And, stamp duty is calculated as the higher of ready reckoner rate or actual transaction value. Registration Charges is 0.5% of the property value. And, the transfer duty is 1.5% of the property value.

How much is stamp duty and registration in Thane?

1 % of Market Value or Rs.30,000/- which ever is less. Registration is Compulsory. As per Article 36A of Schedule I of The Bombay Stamp Act, 1958. As per Article 36 of Schedule I of The Bombay Stamp Act, 1958, read with Article 25.

What is stamp duty and registration?

The registration fee is over and above the stamp duty charges. It is incurred to get the property transferred and registered in your name. The fee is either 1% of the market value or the agreement value, whichever is higher, however, subject to a maximum amount of Rs. 30,000.