This has also been a reason why many home buyers put the property registration work on the back burner. It should be noted that property registration papers are not counted as legal proof they only prove that you paid a fee. This means if a project is built on 50,000 sq ft of land and units of similar sizes are sold to 10 people, each one of them has to pay a stamp duty charge for 5,000 sq ft.ĭocumentary evidence: In case of a dispute, the document showing you have paid the stamp duty acts as a legal proof of your ownership over the property. Stamp duty on purchase of apartments: Apartment buyers have to pay stamp duty charges, based on the individual share of the property. In case the ownership is being transferred to a woman, the applicable stamp duty charge is five percent of the stated property value. In Haryana, stamp duty of seven per cent is levied if a property is registered in the name of a man in urban areas. In the national capital Delhi, for instance, women home buyers have to pay four per cent of the sale deed value as stamp duty, even as the normal stamp duty rate here stands at six per cent. Lower rates for women: To encourage property ownership among women, many states charge lower stamp duty if the property is registered in a woman's name. The penalty could go to as high as 200 per cent of the original liability. If you fail to pay this charge, you have to pay the outstanding amount along with a penalty of two per cent of the outstanding amount per month. Payment frequency and penalty: Stamp duty is a one-time charge paid under Section 3 of the Indian Stamp Duty Act, 1899. These states include Haryana and Maharashtra. In some states, a flat fee is also charges as property registration charge. Registration fees, on the other hand, stand at a standard one per cent across states. Stamp duty rate: The rates at which stamp duty is charged in various Indian states at present range from 4 per cent to 10 per cent.
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