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In case you wish to purchase a property in Kolkata, you must understand that it is mandatory to register your property under the Registration Act. Stamp duty payment and registration charges is an integral part of this process.
Property purchasers must know that when they buy a property (land, flat, etc.), the value of the property is not the only thing that is involved with the process. In order to register the property with the Government, there are other fees and charges that one must pay. In case of a fraudulent activity or dispute, their properties are safe if they are registered. So, if you are planning to buy a house, consider the Stamp Duty and Registration Charges along with the cost of the property.
The Stamp Duty rate in Kolkata depends on the area where the flat or land is situated and the present value of the property in the market. The stamp duty charges in Kolkata are mentioned below:
| Location of the Property | Less than Rs.25 lakh | Above Rs.40 lakh |
|---|---|---|
| Corporation(Howrah or Kolkata) area | 6.00% | 7.00% |
| Notified area / Municipality / Municipal Corporation | 6.00% | 7.00% |
| Areas that are not included in the above mentioned categories | 5.00% | 6.00% |
Therefore, all properties that are situated in the notified areas and Kolkata metropolitan area, the stamp duty is fixed at 6% if the cost of the property is less than Rs.25 lakh. In case, the value of the property is above Rs.40 lakh, the stamp duty stands at 7% of the value of the property.
If the property that you wish to purchase is situated in Panchayat areas, a stamp duty of 5% will be levied on properties that cost less than Rs.25 lakh. For properties that are above Rs.40 lakh and are situated in the Panchayat areas come with a stamp duty of 6%.
The value of the property plays a major role in the determination of Property Registration Charges in Kolkata. For the properties that cost more Rs.25 lakh, 1% of the total cost of the property must be paid as registration charge.
So, all properties that are situated in the notified areas and Kolkata metropolitan area, the stamp duty is fixed at 6% if the cost of the property is less than Rs.25 lakh. In case, the value of the property is above Rs.40 lakh, the stamp duty stands at 7% of the value of the property. If the property that you wish to purchase is situated in Panchayat areas, a stamp duty of 5% will be levied on properties that cost less than Rs.25 lakh. For properties that are above Rs.40 lakh and are situated in the Panchayat areas come with a stamp duty of 6%.
The value of the property plays a major role in the determination of Property Registration Charges in Kolkata. For the properties that cost more Rs.25 lakh, 1% of the total cost of the property must be paid as registration charge.
You must understand that the calculation of these charges are not done on the basis on the transaction value between the buyer and the seller. The charges are calculated as per the current market value of the property.
Here are the stamp duty and property registration charges in Kolkata:
| Name of Article | Rate of Stamp Duty | Rate of Registration Fee |
|---|---|---|
| 4 Affidavit | Rs.10 | Rs.7 |
| 5 Agreement If related to an immovable property’s sale | The same as conveyance for market value (No.23) | Rs.7 |
| If relating to an agreement giving authority to a promoter or developer, by whatever name called, for construction on, or sale of, or transfer (in any manner whatsoever) of, any immovable property – Where the property’s market value is not more than Rs.30 lakh | Rs.5,000 | c Rs.7 |
| Where the property’s market value is more than Rs.30 lakh but less than Rs.60 lakh | Rs.7,000 | Rs.7 |
| Where the property’s market value is more than Rs.60 lakh but less than Rs.1 crore | Rs.10,000 | Rs.7 |
| Where the property’s market value is more than Rs.1 crore but less than Rs.1.5 crore | Rs.20,000 | Rs.7 |
| Where the property’s market value is more than Rs.1.5 crore but less than Rs.3 crore | Rs.40,000 | Rs.7 |
| Where the property’s market value is more than Rs.3 crore | Rs.75,000 | Rs.7 |
| Location of the Property | For Property less than Rs.1 Crore | For Property more than Rs.1 Crore |
|---|---|---|
| Kolkata | 4% | 5% |
| Howrah | 4% | 5% |
| Durgapur | 4% | 5% |
| Siliguri | 4% | 5% |
| Kharagpur | 4% | 5% |
Let us consider that the property value is Rs.20 lakh.
So, the Stamp Duty stands at 6% of Rs.20,00,000 which is Rs.1.2 Lakh.
The Registration fee is 1% of Rs.20,00,000 which is Rs.20,000.
Total stamp duty and property registration charges stand at Rs.1.2 lakh + Rs.20,000, which is equal to Rs.1.4 lakh.
Let us consider that the property value is Rs.3.15 lakh.
So, the Stamp Duty stands at 7% of Rs.45,00,000 which is Rs.2,25,000.
The Registration fee is 1% of Rs.45,00,000 which is Rs.45,000.
Total stamp duty and property registration charges stand at Rs.3.15 lakh + Rs.45,000, which is equal to Rs.3.6 lakh.
What is the stamp duty charge of Corporation (Kolkata/Howrah) Area for a property less than Rs.25 lakh?
The stamp duty charge of Corporation (Kolkata/Howrah) Area for a property less than Rs.25 lakh is 6%.
What is the stamp duty charge of Municipal Corporation/Municipality/Notified Area for a property more than Rs.40 lakh?
The stamp duty charge of Municipal Corporation/Municipality/Notified Area for a property more than Rs.40 lakh is 7%.
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