Stamp Duty & Property Registration Charges in Kolkata
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.
Stamp Duty and Property Registration Charges in Kolkata
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% |
Case Study on Property that Costs Less than Rs.25 lakh
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.
Case Study on Property that Costs More than Rs.40 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.
FAQs on Stamp Duty and Property Registration Charges in Kolkata
- What is the stamp duty rate applicable in Kolkata for properties exceeding Rs. 50 lakh?
According to the recent announcement, properties situated in the Kolkata metropolitan area and notified regions will incur a stamp duty of 5% if their value exceeds Rs. 40 lakh. Conversely, properties located in Panchayat areas will be subject to a 4% stamp duty if their value exceeds Rs. 40 lakh.
- What factors influence the determination of stamp duty in Kolkata?
In Kolkata, the stamp duty rate is contingent upon both the market value of the property and its location within a specific area.
- What factors influence the stamp duty in Kolkata?
The stamp duty in Kolkata is influenced by several factors, including the location of the property, cost of the property, gender of the owner, property type, and age of the owner. These factors contribute to varying stamp duty rates based on the type of property transfer.
- What are the considerations before paying stamp duty in Kolkata?
Before paying stamp duty in Kolkata for a property, it is crucial to ensure that all property-related documents are stamped before registration within the next working day. Additionally, obtaining the stamp paper within six months of the transaction date, using adhesive stamps for payment, and ensuring the stamp includes the names of both the seller and buyer are essential considerations.
- What are the most recent updates on stamp duty and registration charges in Kolkata?
In October 2023, the West Bengal government extended stamp duty and circle rate relaxations until June 2024 to promote property registrations. Earlier rebates, in effect until September 2023, included a 2% reduction in stamp duty and a 10% slash in the circle rate. This move aims to stimulate real estate transactions and facilitate pending property registrations.
- How has the relaxation in stamp duty and registration charges impacted the real estate sector in Kolkata?
The extension of stamp duty and circle rate relaxations in West Bengal, introduced in July 2021 and extended until June 2024, has significantly encouraged real estate transactions. Over a lakh apartments have been registered in the Kolkata Metropolitan Area (KMA), leading to a steady growth in property sales and registrations. However, it's noted that while reduced stamp duty and registration charges benefit homebuyers, increased costs of raw materials and construction have contributed to a rise in residential and commercial unit prices.
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