Purchasing real estate is an exciting accomplishment, but it also comes with a great deal of responsibilities. Stamp duty and registration fees are among the most important issues you\'ll have to deal with. Knowing what are stamp duty and registration charges up front might help you avoid unforeseen expenses later on, whether you\'re buying your ideal house or selling a property. Let me share the rates of Chennai with you.
What is Stamp Duty and Registration Charges?
In Chennai, the stamp duty and registration charges for property transactions are:
Stamp Duty:
For new properties: 7% of the property\'s market value.
For resale properties: 4% of the property\'s market value.
Registration Charges:
For new properties: 1% of the property\'s market value.
For resale properties: 1% of the property\'s market value.
Let’s understand it better with an example.
If you\'re buying a new property valued at Rs.50 lakh:
Stamp Duty: 7% of Rs.50 lakh = Rs.3.5 lakh
Registration Charges: 1% of Rs.50 lakh = Rs.50,000
So, the total cost for stamp duty and registration charges would be Rs.4 lakh. I hope you understand what is stamp duty and registration fees.
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Hi friend,
The stamp duty in Thane is 6 percent, including 1 percent local body tax. And the registration charge for property valued above Rs. 30 Lacs is Rs. 30000 and for property valued below Rs. 30 Lacs is 1 percent of the property value.
Read more:
What are the Registration Charges in Thane?
How Much is Stamp Duty and Registration in Mumbai?
How to Pay Stamp Duty Online in Maharashtra?
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What are the charges for the registration stamp duty?
Ankita pawar
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2022-07-12T12:12:07+00:00 2025-01-31T15:38:56+00:00Comment
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