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Stamp Duty Calculator
-
5%
Stamp Duty Rate
₹1,50,000
Stamp Duty Value
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₹1%
Registration Rate
₹30,000
Registration Charges Payable
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₹1,80,000
Total Stamp Duty + Reg Charges
Note: This is for information purposes only. The charges are applicable as on February 2024. Stamp duty rates may vary.
What is Stamp Duty?
Stamp duty is a fee or charge paid through stamps, which can be broadly classified into two categories: Adhesive Stamp and Impressed Stamp, payable on instrument/document. There are different stamping methods through which stamp duty can be paid, which are broadly categorized as follows:
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Stamps (Revenue stamp and special adhesive stamp)
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Papers bearing impressed stamps (Judicial and Non-judicial stamp paper)
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E-stamping
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Franking
As per the Indian Law, stamp duty is payable on the instrument under Section 3 of The Indian Stamp Act, 1899 (“the Act”). The Indian Stamp Act, 1899 is a Central enactment and the state has the powers to adopt the Indian Stamp Act, 1899 with amendments to same, to suit the transaction peculiar to each state.
Whereas, the registration of instruments is governed by Registration Act, of 1908. It is possible that a certain instrument is subject to the levy of a stamp duty but may not be required to be registered. For instance, a rent agreement/lease agreement of immovable property for a term less than one year is not required to registered but it is leviable to stamp duty. Section 17 of the Registration Act, 1908 prescribes the list of the instruments that are mandatory to be registered.
Stamp duty is one of the sources of revenue for the State Government. It serves as a legal requirement for certain types of transactions to be considered valid and enforceable. For instance, a sale agreement for a property must be executed on a stamp paper of appropriate value and stamped according to the relevant state’s stamp duty laws. The term “duly stamped” is intermittently used in the Indian Stamp Act. “Duly stamped” when applied to an instrument, means that the instrument bears an adhesive stamp or impressed stamp of not less than the proper amount and that such stamp has been affixed under the law for the time being in force.
In the case of a sale deed/conveyance deed, the stamp papers are to be purchased by the buyer in the name of one of the parties to the transaction. Stamp duty ensures the legality, authenticity, and transparency of property transactions. It acts as evidence of the transaction’s authenticity and helps prevent fraud. The validity of a stamp paper is six months from the date of purchase.
What are Property Registration Charges?
The property registration fee is another payment you must pay over the stamp duty for registration of the instrument before the concerned Sub-Registrar. Once you have paid the stamp duty, you can pay the property registration charges and get it registered with the concerned sub-registrar within whose sub-district the whole or some portion of the property to which such document relates is situated. The documents are legally legitimate once you pay stamp duty. On the other hand, the fixed percentage that you must pay to have the property officially registered in your name is the registration charge.
What is a Stamp Duty Calculator?
A stamp duty calculator is used to determine how much stamp duty is required to be paid on the instrument. It may vary from state to state. Here is a detailed overview to understand the online stamp duty calculator with IIFL Home Loans
How is Stamp Duty calculated?
Stamp Duty is calculated depending on various factors and instances that determine the stamp duty registration and charges you will need to pay. Listed below are detailed brief instances:
- For purchasing an immovable property: Stamp duty is calculated on the value of the property as per circle rate/declared rate/ ready reckoner rate issued by respective state government or the total consideration amount, whichever is higher. Charges to be borne by the Buyer in the shape of stamp duty, transfer duty, registration fee, and miscellaneous charges towards pasting fee.
For instance, if we consider a property’s Ready Reckoner Rate/ Government declared Value to be ₹70 lakh and the property’s agreed-upon value is ₹40 lakh, the stamp duty on the sale of the property will be based on whatever is higher i.e. the government declared value. Hence, the property’s stamp duty will be calculated from ₹70 lakh. - Stamp Duty may also be determined based on various other factors, such as the type and location of the said property, the use of the property, gender, and age of the owner of the property.
- Stamp Duty also differs on the criteria of whether the said property falls within the boundaries of the municipal corporation, the municipal council, or gram panchayats.
- Some states offer rebates while assessing stamp duties on agricultural land. Hence while calculating stamp duty on agricultural lands, one needs to keep this in mind.
There are several factors influencing the stamp duty rates and charges, following are listed below:
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Location: The location of the property plays a significant impact on the stamp duty rates. It is greater in urban areas than in rural areas.
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Value: In many Indian states, the proportions of stamp duty also vary based on the value of the property.
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Usage: Compared to residential structures, commercial buildings require more amenities, security measures, etc., which is why they pay a higher stamp duty rate.
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Gender of the Owner: If a woman is the owner of a property, many states offer a discounted rate. Women are permitted to pay a lower amount of stamp duty land tax than men do. In certain Indian states, the difference between stamp duty charges paid by men and women can be as high as 2%.
The documents required for stamp duty and registration charges may vary depending on the requirements laid down by the sub-registrar. The following is the indicative list of documents required for stamp duty:
For Individuals:- Duly signed deed of the document needs to be registered with complete details of the property, such as survey number, surrounding land details, size, etc
- Title deeds of the property
- ID and address proofs of the seller, buyer, and witnesses, such as identity proof, address proof, PAN Card, Aadhar Card, and 2 passport-size photos
- Power of attorney, if applicable
- Proof of payment of registration fees
- Proof of payment made to seller
- Proof of stamp duty paid
- Duly signed the deed of the document needs to be registered with complete details of the property, such as survey number, surrounding land details, size, etc.
- Identity proof of the Authorised Signatory/Representative
- PAN card of the Entity
- Board resolution, PAN Card, and Power of Attorney (if any)
- Title deed(s) of the property, if any
- Proof of payment of registration fees
- Proof of payment made to seller
- Proof of stamp duty paid
Any other document requirements may vary from state to state such as title documents of sale or property tax receipts or exchange deed. You can explore the stamp duty and registration charges calculator with this article.
Payment of applicable stamp duty is essential as non-payment of stamp duty or insufficient payment of stamp duty the concerned authority will not allow the registration of the document if you do not pay stamp duty and may be impounded.
Failure to pay the appropriate stamp duty charges on a transaction can result in penalties or fines and may render the document invalid and not admitted as evidence in a court of law. This means that unstamped and unregistered documents will be inadmissible before a court of law in case of a dispute.
Non-registration of the instrument, which requires to be registered under Section 17 of the Registration Act or by any provision of the Transfer of Property Act., the consequences shall follow as per Section 49 of the Registration Act, 1908. As per Section 49 of Registration Act, 1908 the said document will be inadmissible for evidence.
As per the aforesaid provisions, in the event of non-payment of stamp duty charges or shortfall to pay it, the following are the consequences: –
- The said instrument (agreement in question) can be impounded by the lawful public office including courts except police officers in terms of Section 33 of the Indian Stamp Act, 1899;
- Section 35 of the Act provides that an instrument cannot be admitted as evidence in court for any purpose unless it is duly stamped. (Exception being criminal courts) the said instrument shall be inadmissible as evidence for any purpose; and such instrument shall be admissible as evidence after payment of stamp duty along with a penalty equivalent to 10 times of shortfall or deficient stamp duty under section 35 of the Indian Stamp Act, 1899. However, the penalty for insufficient payment of the stamp duty may vary from state to state, it will be levied at 2% per month and up to a maximum of 200% on the outstanding balance.
| STATES | STAMP DUTY RATES (% of Property Value or Sale consideration, whichever is higher) |
REGISTRATION CHARGES | |||
|---|---|---|---|---|---|
| Determined based on Gender | Determined exclusively based on the property value | (% of value of Property) | |||
| Male | Female | Composition of the buyers (Female and Male) | |||
| Andhra Pradesh | 5% | 5% | - | - | 1% |
| Arunachal Pradesh | 6% | 6% | - | - | 1% |
| Assam | 4% | 2% | 3% | - | 3% Male, 1 % Female & 2% Joint Ownership |
| Bihar | 6.3% (Registered under Male) OR (Transfer from Female to Male) | 5.7% (Registered under Female) OR (Transfer from Male to Female) | 6.3% (Male + Male) 5.7% (Female + Female) | - | 2% in all cases |
| Chattisgarh | 5% | 4% | 4% | - | 4% |
| Delhi | 7% | 5% | 6% | - | 1% |
| Goa | - | - | - | Upto ₹50 lakhs – 3.50% ₹50 lakhs to ₹75 lakhs – 4.50% ₹75 lakhs to ₹1 crore - 4.50% ₹1 crore to ₹5 crores – 5% Above ₹5 crore – 6% |
3% 3% 3.5% 3.5% 3.5% |
| Gujarat | 4.90% | 4.90% | - | - | 1% in all cases except* (*No registration charges if buyer is women. In case of joint ownership b/w Male and Female, 1% charges is applicable). |
| Haryana | Urban - 7% Rural - 5% |
Urban 5% Rural 3% |
Urban 6% Rural 4% |
- | Upto ₹50000 – ₹100 ₹50001 to 5 Lakhs - ₹1000 ₹500001 to 10 Lakhs - ₹5000 ₹1000001 to 20 Lakhs - ₹10000 ₹2000001 to 25 Lakhs - ₹12500 ₹2500001 to 30 Lakhs - ₹15000 ₹3000001 to 40 Lakhs - ₹20000 ₹4000001 to 50 Lakhs - ₹25000 ₹5000001 to 60 Lakhs - ₹30000 ₹6000001 to 70 Lakhs - ₹35000 ₹7000001 to 80 Lakhs - ₹40000 ₹8000001 to ₹90 Lakhs - ₹45000 Above ₹90 Lakhs - ₹50000 |
| Himachal Pradesh | 5% | 5% | 5% | - | 2% of the property value with a cap of ₹25,000 |
| Jammu and Kashmir | 7% | 3% | 7% (Male + Female) 5% (Female + Female) 7% (Male + Male) | - | 1.2% in all cases |
| Jharkhand | 4% | 4% | 4.00% | - | 3% |
| Karnataka | - | - | - | Below ₹20 lakh - 2% ₹20 lakh to ₹45 lakh - 3% Above ₹45 lakh - 5% |
1% |
| Kerala | - | - | - | 8% of fare value or sale consideration of property, whichever is higher | 2% |
| Madhya Pradesh | - | - | - | Urban - 9.5% on the circle rate. If sale consideration is higher than circle rate then 9.5% will be applicable on circle rate and 5.5% on over and above the circle rate of the property) Rural - 6.5% on the circle rate. If sale consideration is higher than circle rate then 6.5% will be applicable on circle rate and 2.75% on over and above the circle rate of the property) |
3% on circle rate 1% on circle rate (For women) |
| Maharashtra | - | - | - | Urban: 7% (includes 1% metro cess and transport surcharge) Rural: 6% (includes 1% metro cess and transport surcharge) |
Below ₹30 lakhs - 1% Above ₹30 lakhs - ₹30,000 |
| Manipur | 7% | 7% | - | - | 3% |
| Meghalaya | 9.90% | 9.90% | - | - | |
| Mizoram | 9% | 9% | - | - | 1% |
| Nagaland | 8.25% | 8.25% | - | - | |
| Odisha | 5% | 4.00% | 4% (Male + Female) 5% (Male + Male) 4% (Female + Female) | - | 2% in all cases |
| Punjab | 7.00% | 6.00% | 6% (Male + Female) 5% (Female + Female | - | 1% |
| Rajasthan | 6% | 5% and (4% SC/ST) | - | - | 1% |
| Sikkim | 4% + 1% for people of Sikkimese origin Others – 9% |
4% + 1% for people of Sikkimese origin Others – 9% Others - 10% |
- | - | |
| Tamil Nadu | 7% | 7% | - | - | 2% |
| Telangana | 7% | 7% | - | - | 0.50% |
| Tripura | 5% | 5% | - | - | |
| Uttar Pradesh | 7% | 7% - (minus) ₹10000/- | - | - | 1% |
| Uttarakhand | 5% | 3.75% | 4.37% | Rebate on stamp duty on Female Owner is capped till 25 lakhs only. If Sale consideration/Circle rate is more than 25 lakhs no rebate is applicable. |
2% upto 25000/- |
| West Bengal | - | - | - | For Corporation and Municipal Corporation Areas Below ₹25 lakhs - 6% Above ₹25 lakhs - 7% For other areas Below ₹25 lakhs - 5% Above ₹25 lakhs - 6% |
1% |
FAQs
All documents chargeable with duty and executed in India shall be stamped before or at the time of execution (Section 17 of the Indian Stamp Act, 1899). It may vary from state to state, for instance as per Maharashtra Act, all the instruments executed in the state shall be stamped before or at the time of execution or immediately thereafter or on the next working day following the day of execution.
All documents except ‘Will’ shall be presented for registration within four months from the date of execution (Section 23 of the Registration Act, 1908). Section 25 of the said Act provides for consideration of delay up to four months on payment of a fine not exceeding ten times the registration fee by the Registrar of the district. ‘Will’ can be presented at any time before any Registrar or Sub Registrar by the testator or after his death by any person claiming as executor or otherwise.
A maximum tax benefit of up to ₹1,50,000 is allowed under section 80C for stamp duty and registration fees. If the property has joint owners, each owner can claim tax benefits for their share, subject to the maximum limit of ₹1,50,000.
There is no distinct class of stamp duty applicable specifically to first-time homebuyers in India. Stamp duty is typically uniform and applies to all property transactions, irrespective of whether the buyer is a first-time homebuyer or not.
Like the stamp duty for first-time property buyers, there is no specific class of applicable stamp duty based on the number of properties bought by the buyer. The stamp duty rates are typically uniform for all property transactions.
