The new rates will come into effect from September 12, an official statement from the office of the Inspector General of Registration and Controller of Stamps said. 3% (Stamp duty 2% + Local Body Tax (LBT) 1%), 4% (Stamp duty 3% + Local Body Tax (LBT) 1%), Stamp Duty and Registration Charges in Pune, Stamp Duty and Registration Charges in Thane. Stamp duty charges in India vary from State to State. What is the stamp duty rate in Mumbai? I have a joint property in thane and I want to gift my part to my daughter or wife blood relation hone ke bad bhi. In Mumbai, the Stamps and Registration Department fixes the ready reckoner rates depending upon the market value of the area. NOW NAVI MUMBAI CHARGES 6%. The ready reckoner rates (RR) have been increased on an average of 1.74%. But, I haven’t paid the stamp duty. Copy of the latest property register card Passport-size of both seller and buyer. Are the rates revised? What is current stamp duty charges on properties in Pimpri-Chinchwad. Our flat is on name of my husband and his brother. what will be the stamp duty rates in miraroad. I have purchased flat in mira road and registration and stamp duty was 7% . Thanks. […] The stamp duty and registration charges are calculated on the agreement value of the property. Information source : MCGM https://portal.mcgm.gov.in/ According to Article 34 of the Maharashtra Stamp Act, which was revised in 2017, stamp duty on gift deeds is 3 percent of the property value. The Maharashtra Stamp Duty Act, 1958 applies across the entire State of Maharashtra. The ready reckoner rates (RR) have been increased on an average of 1.74%. In case there is a sale deed drafted then, stamp duty and registration is crucial. resolution etc) for date of effect of new rates? Property tax in Mumbai: Complete guide about BMC and MCGM portal. The Maharashtra government hiked RRR which is effective from September 12, 2020. Home buyers can log on to the Maharashtra stamp and registration department website -. Stamp duty in Mumbai is 5 percent and Thane and Navi Mumbai it is 6 percent. What is the stamp duty and registration charges wrt to the agreement value. is it true ? The stamp duty in Nashik is 3 percent and the registration charge for properties valued above Rs 30 lakh is 1 percent. Stamp duty in Mumbai is 2 percent up till December 2020 and 3 percent from Jan 2021 to Mar 2021.The registration charge, however, is dependent on the property value. If we are developed our building under 33/7 and after development we paid stamp duty individually flat wise Hi Suhail, as of now there is no information available regarding this. West Bengal: Mamata Banerjee slams BJP,... West Bengal: Mamata Banerjee slams BJP, calls party leaders 'venomous snakes'. It is an essential parameter for calculating the stamp duty levied on the sale or transfer of a property. No, there is no such provision of repayment of the stamp duty already paid. KURAR Ready Reckoner Rate 2020. 4) Is floor rise applicable to duty? could you please provide me suggestion on same. Is there any refund process for those who have paid 7% in march? - Explained in Hindi. I have to do stamp duty Registration ? Mumbai (suburban) tops the list of districts across the state with a high dropout rate from secondary schools. The registration charge will be 1 percent of the agreement value. Ready Reckoner Rate (RRR) which is also known as circle rate or guidance value is the minimum rate fixed for an immovable property by the state government through the sub-register office. TOI has learned that the CM has asked the revenue department to see if it can transfer the powers of revising RR rates to the state cabinet. If you pay the stamp duty between January 2021 and March 2021, then stamp duty will be Rs 1.35 lakh. I want to know the stamp duty of shop in suberban in mumbai. 1% Disclaimer: The above rates are derived from the official website. The online stamp duty payment procedure is time-efficient, transparent and simple. Also what will be registration fee for gift deed? What are the stamp duty & registration charges for purchasing agriculture plot in Kalambusare village, Taluka: Uran, District: Raigad. For home loan disbursement SDR NEEDS TO BE COMPLETED. what are the stamp duty rates in miraroad. Ready reckoner rate, also known as circle rate, is the minimum price at which a property has to be registered in case of its transfer. can you share correct government website where revised stampduty rates are shown, Hi Vikas, please refer the official website of the Maharashtra govt, i.e. W hile property prices are on a decline and rental rates are crashing, the Maharashtra government has announced an increase in ready reckoner (RR) rates to extract higher taxes under the guise of rationalisation.. Genraally the stamp duty is calculated on flat registration cost or the total cost of the flat? The stamp duty applicable will be 3 percent up to December 2020, and from January 2021 to March 2021, it will be 4 percent. Recorded agreement between the builder and original purchaser of the building initially. I have booked a flat in kalamboli navi mumbai which comes under CIDCO… In this old picture, many known faces including Manohar Joshi, Uddhav Thackeray, Balasaheb Thackeray, Narayan Rane and Raj Thackeray can be seen sharing the frame. Hi Manmohan, the State government is considering to reduce the stamp duty across the State from 5 percent to 2 percent. Stamp duty rates are usually calculated on the higher value between the Ready Reckoner rate and the value of property prescribed in the buyer-seller agreement. Photo: Instagram/ Aaditya Thackeray, While Uddhav Thackeray will be the first to take the CM's post from the Thackeray family. does it has benefits of reduced Stamp Duty ? Knowledge Centre \>> Articles \>> Mumbai Real Estate Articles. hi madam, You may consult a property agent as well. I will be on loosing side of 1%. That makes total stamp duty as 7%. It is advisable to get your property registered as per the current norms, as you have specified that the last date for registration is Mar 26, 2020. Stamp duty in Mumbai is calculated either on the Ready Reckoner Rate or the value of the property mentioned in the buyer-seller agreement, whichever is higher. ? Metro Cess (1 percent) is being imposed by the State government to generate funds for the development of several proposed and ongoing metro rail projects in the State. Developer is scheduled conveyance deed on March 2020 end. Hi Vaishali, stamp duty is calculated on the current property price or ready reckoner rate, whichever is higher. When is the notification to this effect, expected? Friday hiked ready reckoner rates by an average of 1.74 per cent across the state. have purchased a flat in 1989. have not paid stamp duty on that . or Only apply to new flats ? Could you please calculate exact amount? I want to buy house in Mazgaon Area in Mumbai Likewise, if the land is located in Panchayat limits, the buyer will have to pay less as compared to the urban region. But current charges is 6% . the house is made on gawthi zamin and all papers are legal . 2% of the market value of property . There is no such rebate available in Kolhapur. In Mumbai, stamp duty is levied under the Maharashtra Stamp Duty Act. For instance if your property is above Rs 30 lakh than the registration fee will be Rs 30,000 and if the property cost is below Rs 30 lakh then the registration fee will be 1 percent. I am planing to purchase E-1 Type 1BHK in Nerul sector-10, But the current SD and reg is 6% Earlier, the State government had cut stamp duty charges on properties for the next two years in the areas falling under the Mumbai Metropolitan Region Development Authority (MMRDA) and municipal corporations of Pune, Pimpri-Chinchwad and Nagpur. Can we ask for the refund or else can we cancel this stamp duty and get a new one after 1st September, since we are planning to do the registration after 2nd September only. As per my recent discussion with Saarthi Helpdesk they said 1% LBT will be waived-off for time being. However, you can still contact the Stamp duty and Registration Department and check if there is any refund policy. It would be better to get the property registered if the office is open. If yes, kindly provide link. Note here that the circle rate, also known as the ready reckoner rate or collector rate, is a benchmark below which a property cannot be registered in India. Hi, What is the ready Reckoner rates in Mulund East, Mumbai – 400081. Hi, While buyers have to pay 1% of the property cost as the registration charge on properties worth over Rs 30 lakh, the registration amount is capped at Rs 30,000 for properties worth less than that. Hello, I stay in virar and I’m planning to buy flat what all I have to pay …. area? Besides, the GST applicable on under-construction properties with Rs 45 lakh is one percent. The effective rate of stamp duty is 5 percent and the registration charge is Rs 30,000 for properties above Rs 30 lakh and 1 percent of the property value for properties below Rs 30 lakh. The current stamp duty on properties in Pimpri-Chinchwad is 6 percent. i wish to transfer my flat on my mother name in Mira Bhayander East near Patak road mumbai under gift deed, what shall be the stamp duty and registration cost for 350 sqft ? What is stamp duty and registration charges for woman owner in thane. Registration charges are Rs 30,000 for properties above Rs 30 lakh and 1 percent for properties pegged below Rs 30 lakh. Is it applied for new panvel( new stamduty 6 percent to 5 percent). Stamp duty charges are payable at rates based upon several parameters including the market value of the property, area of the property, or various other criteria. I am buying a flat in Marol, Andheri East, Mumbai, on resale , for ₹2.34 crores and the earlier flat owner had purchased this flat for 1.31 crore and he had paid stamp duty on that price. You can easily search for Ready Reckoner values (market values) for properties as per property location / village, CTS No, Zone & Sub Zone anywhere, anytime. Hi Aman, Thanks for the good updates you are posting here. the government has decided to charge 100% of the Ready Reckoner Rate as premium for additional floor space index (FSI) for properties along the proposed two new metro lines (II and VII) BCCL Photo, The popular leader of Maharashtra and father of Pankaja Munde, late Gopinath Munde with Balasaheb, Uddhav and Raj Thackeray in this file photo. There is no refund available on stamp duty in Thane. No, you cannot claim a refund, since the stamp duty in Maharashtra were reduced later. Mumbai Ready Reckoner. Stamp duty rates till December 31, 2020: Stamp duty rates from January 1, 2021 to March 31, 2021 : Stamp duty after March 31, 2021: 2%: 3%: 5% . Hi what is the stamp duty for registering a relinquish deed for ancestral property among the blood relation in mumbai…is it still 200/500 rs. Also, the stamp duty is a certain percentage of the property value that the buyer has to pay to the district revenue department, at the time of registration. Stamp duty in Mumbai for commercial office space is 2 percent in case you are buying the property. can i get refund of excess stamp duty paid. 1)How can i know the Ready Reckoner Rate for my Area Mahim in Mumbai? Yes, it falls under Thane area and the stamp duty is 6 percent of the agreement value. Kya ye 2% stamp duty is effective from sept 2020? Thanks and regards. Maharashtra stamp duty amnesty scheme 2019: How does it work. Stamp duty value is the higher of the value assessed as per the ready reckoner rate and declared agreement value. For properties below Rs 30 lakh - 1% of the property value. It will be applicable on the purchase of resale units as well. Hi Deepa, Maharashtra govt has slashed stamp duty rates by 1 percent on property purchase for two years, until 2022. Note : we are not associated with Maharashtra Government in any manner. Sailors stuck on a ship in China for seven months return today. Thanks! Maharashtra keeps circle rates unchanged for FY21. How to calculate Registration + Stamp Duty + LBT + MVAT charges on the Flat Sq. My builder is saying that after February 2020, government has raised stamp duty from 6% to 7% is that true? Hi, we have paid stamp duty @ 6% for a property purchased in Ulhasnagar, Maharashtra however, the agreement is not executed yet and therefore the registration is not done. 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