Stamp Duty Definition
Stamp duty is a tax levied by the state on property transfers, validating property ownership.
It serves as legal proof of ownership, without which, determining legal ownership would be impossible.
This duty is imposed by the state's ministry.
About Stamp Duty
Stamp duty is a tax payable under the Indian Stamp Act of 1899 by property buyers. It's only valid for a specific period, after which, it doesn't state legal ownership of the property.
The period of validity is influenced by factors like property location, purchase price, market rates, buyer's gender and age, purchase intent, and attached amenities.
Indian Stamp Duties
Below are the different stamp duties and registration fees per location in India:
Location | Stamp Duty | Registration Fees |
Delhi | 4% - 6% | 1% of the deal |
Bangalore | 2% - 5% | 1% of the property rate |
Mumbai | 3% - 6% | 1% of the property rate |
Kolkata | 5% - 7% | 1% of the total property rate |
Chennai | 1% - 7% | 1% to 4% of the property rate |
Uttar Pradesh | 7% | 1% of the total property rate |
Maharashtra | 5% | 1% of the total property rate |
Rajasthan | 5% - 6% | 1% of the total property rate |
Gujarat | 4.9% | 1% of the total property rate |
Kerala | 8% | 1% of the total property rate |
West Bengal | 7% to 8% | 1% of the total property rate |