It is also worth mentioning the fact that States impose different fees for the registration of the same instruments in India. This is the reason why the stamp duty on real estate registration in India differs from state to state. Home buyers in Delhi pay 6% stamp duty on property registration, while it is currently 2% in Mumbai. In Jharkhand, the registration fee is 3% of the value of the property. For example, Tamil Nadu calculates stamp duty @ 7%. However, in Rajasthan, this figure is 5%, 4% and 4% respectively for the general, female and deactivated categories. If you buy an apartment, stamp duty is payable on the basis of the undivided Share (UDS) of the property. So if there are 5 apartments of the same size on 5000 square feet of land, each member must pay stamp duty per 1000 square feet. You can visit your government`s official website for updated stamp taxes and other related details. We booked 2bhk in the construction apartment in Pune and Builder had paid the stamp and registration taxes for the registration contract process, but not yet completed the registration process, but not all states offer this discount for women.
In Maharashtra, for example, men and women have to pay similar fees. The same is true for Kerala, Bihar and Jharkhand. In UP, women also get a 1% discount on stamp duty provided that the value of the Rs property does not exceed 10 lakhs. According to the Constitution, stamp and registration duties are subdivided into taxes levied under the Union list and under the list of states. Under the Stamp Act, states have the power to set stamp duties in such a way that the rates reflect the specific policy of that state. In Indian states, stamp duties vary from 3% to 10% of the value of real estate between states. This is one of the most widely used methods of paying stamp duty. Here, all details of the contract are printed either in writing or on non-judicial stamp documents purchased by a licensed supplier. The value of the stamp documents corresponds to the stamp duty in force.
After ensuring the accuracy of the contents, the stamp documents are duly signed by the executors. The difference between the contract value and the registration value does not affect the buyer`s tax debt as such. The tax reduction on registration is levied in the amount of the registration. Any difference between the two amounts has no tax liability for the buyer. I buy a plot of land in 2013 by the owners and bank loans, but I do not pay stamp duty and registered by the own land name.now Registery of own property name and stamp tax. An additional charge is included. 1. Before knowing if a client has obtained all the authorizations for the start of work, you must check the ownership of the land on which the project is to be developed. To do this, you can ask the developer to have presented the letter of allocation of the land if it was purchased by a government agency. 2. Important documents that require careful review before purchasing real estate in the National Capital Area include government letters of authorization, security certificates, and property tax receipts. 3.
The main authorisations to be obtained from a contracting authority are construction plans and plans, building safety certificates, undisputed certificates from public authorities, environmental authorisations, urban countryside boundaries certificates, start-up certificates and property certificates. . . .