PROPGUIDE − A Complete Property Guide

Going To Buy A Home? Know The Stamp Duty Rate In Your City

Going To Buy A Home? Know The Stamp Duty Rate In Your City

When you set out to buy a property, you have to budget for several factors and expenses that you would have to incur during the process. Apart from the price of the real estate, you also have to factor in some additional costs like stamp duty and registration charges.

Stamp duty on real estate transactions is a fee that has to be paid during the transfer of an asset from one person to another based on the total declared value of the property. It is governed by Section 3 of the Indian Stamp Duty Act, 1899. In India, stamp duty charges may differ from four to 10 per cent across states. In simpler terms, if stamp duty is charged at 4 per cent in your city, you have to pay Rs 4 for a property worth Rs 100.

PropGuide brings a list of rates at which stamp duty is charged for the various types of buyers in the nine major cities of the country.


Stamp Duty in Ahmedabad

If you are buying a property in Ahmedabad, you will have to pay a stamp duty at the rate of 4.9 per cent. This rate, in the industrial hub of Gujarat, is one of the lowest among the major cities of India.

Stamp Duty in Bengaluru

In India’s information technology capital, you need to pay a stamp duty charge of 5.6 per cent in urban areas and 5.65 per cent in rural areas. When compared to its other peers, property in Bengaluru attracts a lower stamp duty rate that most cities.

Stamp Duty in Chennai

In the Tamil Nadu capital, for a property in Chennai, you will have to pay seven per cent of the total property value as stamp duty charges.

Stamp Duty in Gurgaon

Stamp duty in Gurgaon is different for the different segments and types of buyers. While you have to pay a six per cent stamp duty for property in Gurgaon rural, the charges are kept at eight per cent for transactions in urban areas. For registering a gift deed, you have to pay a stamp duty of three per cent in rural areas and five per cent in urban areas. However, if the sale deed is executed in favour of a woman, the stamp duty charges in Gurgaon are four per cent in rural areas and six per cent in urban areas.

Stamp Duty in Hyderabad

You have to pay a stamp duty of 7.5 per cent to buy a property in Hyderabad, the city of Nizams.

Stamp Duty in Kolkata

In the West Bengal capital, for a property in Kolkata panchayat area you have to pay a stamp duty of five per cent of the value of the property, and six per cent in municipal areas and corporation areas. Last year, the city administration notified that you would have to pay an additional one per cent stamp duty in both urban and rural areas, if the market value of the property exceeds Rs 40 lakh.

Stamp Duty in Mumbai & Pune

At present, the stamp duty in Mumbai and Pune is charged at the rate of five per cent of the property value. However, according to some media reports from October 2015, the state Cabinet has approved raising the rate by one percentage point to six per cent, after the state government notifies the change.

Stamp Duty in Noida

The Noida Authority recently hiked the stamp duty charges from five per cent to seven per cent, a move that drew flak from home buyers as well as developers. This was even as Union Urban Development Minister M Venkaiah Naidu recently asked states to bring down stamp duty charges to make housing more affordable. “The stamp duty was originally collected to maintain the registers. Now, it has become a source of revenue. Charging this on affordable housing people will be a burden," the minister was quoted as saying by the media.

Importance of stamp duty

The Reserve Bank of India (RBI) last year directed banks to factor in various charges in property transaction for home loan computation. But so far expenditures like stamp duty and registration fee have to be borne by home buyers on their own, even if they are buying a property by taking a home loan. Those who venture into home-buying pursuits without a proper knowledge of the expenses are usually in for a rude shock. In fact, many of them have to put their home-buying plans on hold, for they find it difficult to arrange a substantial amount of hard cash to be paid for the paperwork.

Despite the fact that banks are now including stamp duty, registration and other such charges for deciding the value of a property, the fact remains that the cost of it all has to be eventually borne by home buyers. This makes it imperative for home buyers to be aware of the stamp duty and registration charges.

What are registration charges?

Registration charges are a one-time fee that you pay for registering the property transaction in the government records. These are kept typically at one per cent of the transaction value, even as stamp duty charges varies from city to city, from an urban area to a rural area and from a male buyer to a female buyer.

Tags: home loan, Noida, Gurgaon, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad, Ahmedabad, Pune, Stamp Duty, RBI, Registration Charges, Bengaluru, infographics, propguide, Buy & Sell, Circles Rates, Property Valuation

Is NCR Losing Out To Mumbai, Bengaluru, Pune?

The National Capital Region, for very long, has been the largest residential real estate market in India. But, is NCR losing out to Mumbai, Bengaluru and Pune?

November 10 2015

+ Click Here To Read This Article

Unsold Inventory: Learnings From PropTiger Q2 Report FY'16

Unsold inventory in major Indian cities have been declining, quarter by quarter.

November 10 2015

+ Click Here To Read This Article

Home Sales Up 8% in Q1, Launches Rise 14%: DataLabs Report

According to the latest PropTiger DataLabs report, residential real estate sales in Q1, FY17, grew 8% over Q4, FY16. Also, new unit launches across top 9 cities increased 14% quarter-on-quarter.

July 27 2016

+ Click Here To Read This Article

The ‘Serious’ Home Buyer Drove Residential Market In Q4: Report

Investors took a back seat, while end-use home buyers were active in the real estate sector, shows the PropTiger DataLabs report for Q4 (January-March 2016).

April 21 2016

+ Click Here To Read This Article

Realty Decoded Q4 FY'16: A PropTiger DataLabs Report

Get full access to the PropTiger DataLabs report for the fourth quarter (January-March 2016).

April 21 2016

+ Click Here To Read This Article

At A Glance: FSI In 10 Cities Of India

PropGuide list the permissible floor area ratio in 10 major cities of the country.

August 08 2016

+ Click Here To Read This Article

How Well Do You Know The Indian Ultra-Luxury Market?

Ultra-luxury housing remains immune in the Indian real estate market.

December 22 2016

+ Click Here To Read This Article

#RealtyNewsRoundup: Bank of Baroda To Buy Majority Stake In Central Bank’s Housing Finance Arm [Video]

Here are today's top news stories from the real estate sector.

December 12 2016

+ Click Here To Read This Article

As per an EY report titled ‘India’s growth paradigm: How markets beyond metros have transformed’,...

We list five global cities that offer you a comparatively low cost of living. Here is a little tip....

Here are today’s top news stories from the real estate sector.

To fulfil the soaring demand for luxury property among potential home buyers in Bengaluru, the...

The Goods And Services Taxes has clearned a proposal to charge a cess of 15 per cent on luxury cars...

PropGuide tells you how a better metro connectivity will raise real estate prices in Noida.

The first phase of a Metro network is already changing the way people commute in Bengaluru. Upon...

Banks and developers are taking several initiatives to shift India’s home-ownership pattern in...

A building code is a set of norms that govern construction of buildings by stipulating minimum...

PropGuide simplifies complex real estate jargons for you.

Proptiger has released it's quarterly review report on India's real estate sector. Ankur Dhawan,...

Prime lending rate is the interest rate at which banks lend to its most credit worthy...

Subscribe Now

To stay tuned with real estate updates


x +

Drop Your Query here