Stamp Duty = (Property Value × Stamp Duty Rate) + Surcharge + Cess. However, the exact components can differ depending on the state or property type. Always check the latest government guidelines, as rates and surcharges may vary between regions or property categories.
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Different states has different rate for stamp duty.
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What is Stamp Duty?
Stamp duty is a fee levied by the state government when buying a new property. This fee is used to validate the registration of the property in your name, and legalise your property ownership document. Without paying Stamp Duty on the property registration document, you will not be considered a legal owner of the property in question.
How are Stamp Duty and Registration Charges Calculated?
Stamp Duty and Registration Charges are two different charges payable on purchasing a property. Both are calculated at different rates. However, both play the crucial role of legally ensuring the transaction of a property. Both these charges are set by state governments. While stamp duty generally ranges between 5-7% of the property value, while registration charge is much lower, generally ranging between 1-2%. These charges are calculated on the basis of the following factors: Market Value or Agreement Value, whichever is higher Type of Property (single-storey, multi-storey, duplex) Usage of the Property (residential, commercial, agricultural) Location Other bases include gender, applicable charges, etc.
How to use the stamp duty calculator
Using a stamp duty calculator is simple and convenient. Just follow these steps:
- Select your state or union territory: Choose the location of your property from the list. Rates differ across states, so this step ensures accuracy.
- Enter your property’s value: Type in the total property value.
- Check the estimated amount: The calculator will instantly show the estimated stamp duty and registration fees, based on the latest applicable rates.
The calculator automatically applies the most recent rates for your selected state, giving you a clear, reliable estimate of total charges. This helps you budget effectively and understand your complete property cost in advance.
Frequently Asked Questions
How can I avoid Stamp Duty on property transfer?
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You cannot avoid paying stamp duty completely, as it is mandatory. However, under Section 80C of the Income Tax Act, you can claim a deduction of up to ₹1.5 lakh for stamp duty and registration fees. In the case of joint ownership, each co-owner can claim their share of the deduction.
Who pays the Stamp Duty – the buyer or the seller?
In most cases, the buyer pays the stamp duty unless a different arrangement is clearly mentioned in the sale agreement. It is advisable to confirm the payment responsibility beforehand to avoid confusion later.
How does the Stamp Duty calculator work?
A stamp duty calculator helps you estimate the payable amount by applying state-specific rates and surcharges based on the property value, type, and location. It quickly provides an accurate estimate, saving time and reducing manual errors.
How to Pay Stamp Duty Charges?
You can pay stamp duty in multiple ways, such as:
• E-stamping: Pay online through authorised state government portals.
• Stamp paper: Purchase physical stamp paper of the required value.
• Franking: Pay at a designated bank where the document is stamped to confirm payment.