Request received - loud & clear!
Returning you to where you were...
Undeniably, the stamp duty and registration charges in Mumbai serve as one of the highest sources of revenue for the Maharashtra Government. Before you read through the current rates, here is a quick introduction to what Stamp Duty and Registration Charges are. Stamp duty is the transactional tax, which plays a key role in the transactions made on a property. It is pretty much similar to what a government collects for sales tax and income tax. However, when a property is considered, the stamp duty is charged on the present agreement value or market value, whichever is high.
The stamp duty has to be paid fully and on time. Any delay will impose a penalty. Also, make a note that a property document is only valid if the payment for stamp duty has been paid. Also, it acts a good evidence in the courts.
The stamp duty is levied on both commercial and residential property transactions, even including the leasehold or freehold properties. Since the stamp duties are levied by the states, the amount will vary from one state to the other.
As per the recent updates stated by the Maharashtra Government, the current stamp rate in Mumbai are:
Gender | Stamp Duty Rate |
---|---|
Female | 6.00% |
Male | 6.00% |
Male & Female As Joint Owners | 6.00% |
Note: The percentage of the stamp duty depends on two crucial factors:
The rate whichever is higher among the above two is taken into account for the stamp duty.
Stamp Duty & Property Registration Charges
There are multiple factors that affect the percentage of the stamp duty. These include:
Stamp duty can be paid in three ways, which are:
It is the minimum rate, which the state government informs via a registrar/sub-registrar office for registering all the transactions associated with a property. The ready reckoner rates in Mumbai depend on different factors like:
The table shown below gives a summary of the current ready reckoner rates in Mumbai:
Type Of Property | Current Ready Reckoner Rate |
---|---|
Apartments and Flats | Rs.42,000 – Rs.8,61,000 per sq.mt. |
Residential land | Rs.16,500 – Rs.4,75,500 per sq.mt. |
Office space | Rs.55,100 – Rs.1,062,500 per sq.mt. |
Shops | Rs.53,700 – Rs.1,197,500 per sq.mt. |
Industrial Lands | Rs.42,000 – Rs.8,61,000 per sq.mt. |
Place In Mumbai | Flats/Apartments | Residential Lands | Industrial Lands |
---|---|---|---|
Byculla | Rs.82,000 - Rs.469,900 | Rs.38,500 - Rs.214,200 | Rs.93,400 - Rs.469,900 |
Colaba | Rs.280,400 - Rs.652,100 | Rs.130,400 - Rs.339,000 | Rs.280,400 - Rs.652,100 |
Fort | Rs.182,100 - Rs.592,300 | Rs.97,000 - Rs.296,500 | Rs.182,100 - Rs.592,300 |
Nariman Point | Rs.413,700 - Rs.576,300 | Rs.192,200 - Rs.308,700 | Rs.413,700 - Rs.576,300 |
Princess Dock | Rs.158,900 - Rs.240,200 | Rs.56,400 - Rs.130,600 | Rs.158,900 - Rs.240,200 |
Mandvi | Rs.126,000 - Rs.221,200 | Rs.65,700 - Rs.130,600 | Rs.126,000 - Rs.221,200 |
Marine Drive | Rs.164,800 - Rs.445,600 | Rs.83,300 - Rs.221,800 | Rs.164,800 - Rs.445,600 |
Girgaum Chowpatty | Rs.165,400 - Rs.450,700 | Rs.78,900 - Rs.256,400 | Rs.165,400 - Rs.450,700 |
Malabar & Cumballa Hills | Rs.339,500 - Rs.861,000 | Rs.185,700 - Rs.475,400 | Rs.339,500 - Rs.861,000 |
Tardeo | Rs.171,300 - Rs.337,400 | Rs.82,600 - Rs.184,700 | Rs.171,300 - Rs.337,400 |
Mazgaon | Rs.69,400 - Rs.217,600 | Rs.27,100 - Rs.97,400 | Rs.69,300 - Rs.217,600 |
Parel Sewri | Rs.84,600 - Rs.335,700 | Rs.26,200 - Rs.144,50 | Rs.97,600 - Rs.335,700 |
Lower Parel | Rs.178,300 - Rs.523,600 | Rs.48,800 - Rs.236,100 | Rs.178,300 - Rs.523,600 |
Worli | Rs.172,500 - Rs.587,800 | Rs.77,700 - Rs.318,200 | Rs.172,500 - Rs.587,800 |
Dadar | Rs.71,300 - Rs.222,000 | Rs.40,200 - Rs.102,300 | Rs.99,800 - Rs.222,000 |
Salt Pan | Rs.91,600 - Rs.191,900 | Rs.46,000 - Rs.85,800 | Rs.91,600 - Rs.191,900 |
Matunga | Rs.142,500 - Rs.252,000 | Rs.56,300 - Rs.113,600 | Rs.142,500 - Rs.252,000 |
Mahim | Rs.214,500 - Rs.381,500 | Rs.98,600 - Rs.210,500 | Rs.214,500 - Rs.381,500 |
Dharavi | Rs.73,600 - Rs.88,000 | Rs.25,000 - Rs.42,900 | Rs.73,600 - Rs.88,000 |
Sion | Rs.127,700 - Rs.233,300 | Rs.55,300 - Rs.115,900 | Rs.127,700 - Rs.233,300 |
Bandra Reclamation | Rs.242,600 - Rs.242,600 | Rs.148,100 - Rs.148,100 | Rs.242,600 - Rs.242,600 |
Bandra West | Rs.131,700 - Rs.449,600 | Rs.74,500 - Rs.299,900 | Rs.131,700 - Rs.449,600 |
Bandra East | Rs.111,400 - Rs.289,900 | Rs.57,900 - Rs.169,000 | Rs.117,800 - Rs.289,900 |
Parigha Creek | Rs.89,100 - Rs.171,700 | Rs.35,200 - Rs.93,400 | Rs.89,100 - Rs.171,700 |
BKC & Kalina | Rs.129,400 - Rs.344,000 | Rs.78,100 - Rs.206,800 | Rs.133,900 - Rs.344,000 |
Bapnala | Rs.91,200 - Rs.91,200 | Rs.40,900 - Rs.40,900 | Rs.108,500 - Rs.108,500 |
Sahar | Rs.140,800 - Rs.140,800 | Rs.69,600 - Rs.69,600 | Rs.140,800 - Rs.140,800 |
Brahamanwada | Rs.120,000 - Rs.136,700 | Rs.65,100 - Rs.71,100 | Rs.128,000 - Rs.136,700 |
Andheri East | Rs.114,000 - Rs.243,600 | Rs.58,900 - Rs.142,200 | Rs.114,000 - Rs.243,600 |
Vile Parle East | Rs.93,100 - Rs.215,600 | Rs.46,200 - Rs.129,500 | Rs.109,500 - Rs.215,600 |
Vile Parle West | Rs.176,300 - Rs.273,200 | Rs.105,600 - Rs.160,500 | Rs.176,300 - Rs.273,200 |
Juhu | Rs.230,700 - Rs.376,600 | Rs.136,900 - Rs.227,400 | Rs.230,700 - Rs.376,600 |
Andheri West | Rs.137,500 - Rs.210,100 | Rs.70,600 - Rs.136,500 | Rs.150,800 - Rs.210,100 |
Andheri East - Kurla Road | Rs.108,300 - Rs.158,200 | Rs.60,000 - Rs.81,700 | Rs.108,300 - Rs.158,200 |
Andheri East Marol | Rs.92,100 - Rs.157,300 | Rs.50,200 - Rs.95,100 | Rs.92,100 - Rs.157,300 |
Parjapur Andheri | Rs.85,400 - Rs.85,400 | Rs.39,800 - Rs.39,800 | Rs.91,100 - Rs.91,100 |
Andheri Varivali | Rs.144,900 - Rs.173,000 | Rs.76,400 - Rs.103,700 | Rs.144,900 - Rs.173,000 |
Jogeshwari West | Rs.88,400 - Rs.196,900 | Rs.40,000 - Rs.124,700 | Rs.88,400 - Rs.196,900 |
Jogeshwari East | Rs.115,100 - Rs.210,600 | Rs.60,800 - Rs.117,200 | Rs.115,100 - Rs.210,600 |
Madh Village | Rs.58,400 - Rs.58,400 | Rs.22,600 - Rs.22,600 | Rs.79,900 - Rs.79,900 |
Andheri Versova | Rs.149,000 - Rs.209,400 | Rs.74,700 - Rs.125,600 | Rs.149,000 - Rs.209,400 |
Andheri Oshiwara | Rs.100,600 - Rs.237,100 | Rs.52,800 - Rs.147,600 | Rs.100,600 - Rs.237,100 |
Villages | Rs.42,000 - Rs.125,400 | Rs.16,500 - Rs.62,700 | Rs.42,000 - Rs.125,400 |
Goregaon East | Rs.51,000 - Rs.220,500 | Rs.21,200 - Rs.130,500 | Rs.51,000 - Rs.228,600 |
Goregaon West | Rs.68,700 - Rs.177,500 | Rs.26,800 - Rs.114,700 | Rs.68,700 - Rs.177,500 |
Malad West | Rs.98,900 - Rs.170,900 | Rs.45,600 - Rs.86,600 | Rs.98,900 - Rs.170,900 |
Malad East | Rs.74,600 - Rs.163,100 | Rs.29,500 - Rs.80,500 | Rs.74,600 - Rs.163,100 |
Dindoshi | Rs.93,700 - Rs.170,200 | Rs.34,000 - Rs.102,200 | Rs.93,700 - Rs.170,200 |
Malad West South | Rs.99,400 - Rs.158,200 | Rs.45,500 - Rs.88,400 | Rs.99,400 - Rs.163,800 |
Malad West North | Rs.70,500 - Rs.128,500 | Rs.28,700 - Rs.76,300 | Rs.78,200 - Rs.128,500 |
Malvani | Rs.78,800 - Rs.106,000 | Rs.38,600 - Rs.63,400 | Rs.78,800 - Rs.106,000 |
Wadhvan | Rs.64,200 - Rs.130,100 | Rs.25,100 - Rs.64,900 | Rs.64,200 - Rs.130,100 |
Kandivali West | Rs.130,800 - Rs.130,800 | Rs.73,300 - Rs.73,300 | Rs.130,800 - Rs.130,800 |
Kandivali East | Rs.42,900 - Rs.169,400 | Rs.32,400 - Rs.91,900 | Rs.131,900 - Rs.169,400 |
Borivali West | Rs.95,300 - Rs.117,600 | Rs.39,400 - Rs.71,300 | Rs.95,300 - Rs.117,600 |
Borivali East | Rs.52,800 - Rs.186,800 | Rs.38,800 - Rs.112,100 | Rs.114,100 - Rs.186,800 |
Place In Mumbai | Office Space | Shops |
---|---|---|
Byculla | Rs. 1,04,600 - Rs.530,200 | Rs.1,57,000 - Rs.6,36,400 |
Colaba | Rs.3,08,400 - Rs.795,700 | Rs.3,67,700 - Rs.9,24,000 |
Fort | Rs.2,31,800 - Rs.709,700 | Rs.2,60,600 - Rs.8,37,400 |
Nariman Point | Rs.5,18,000 - Rs.699,100 | Rs.6,55,200 - Rs.8,31,300 |
Princess Dock | Rs.2,05,300 - Rs.276,200 | Rs.2,48,900 - Rs.3,83,200 |
Mandvi | Rs.193,300 - Rs.288,700 | Rs.2,32,500 - Rs.3,69,100 |
Marine Drive | Rs.218,900 - Rs.467,900 | Rs.2,88,400 - Rs.5,57,200 |
Girgaum Chowpatty | Rs.200,700 - Rs.550,900 | Rs.2,41,000 - Rs.8,22,600 |
Malabar & Cumballa Hills | Rs.4,41,600 - Rs.1,062,500 | Rs.5,14,400 - Rs.1,197,500 |
Tardeo | Rs.205,300 - Rs.481,400 | Rs.2,56,800 - Rs.5,68,500 |
Mazgaon | Rs.96,100 - Rs.269,300 | Rs.1,09,900 - Rs.3,23,100 |
Parel Sewri | Rs.1,21,000 - Rs.377,900 | Rs.1,51,400 - Rs.4,37,600 |
Lower Parel | Rs.1,89,400 - Rs.651,200 | Rs.2,14,000 - Rs.7,66,100 |
Worli | Rs.2,13,100 - Rs.596,200 | Rs.2,66,900 - Rs.7,01,300 |
Dadar | Rs.1,04,800 - Rs.250,300 | Rs.1,31,100 - Rs.3,31,800 |
Salt Pan | Rs.1,05,000 - Rs.211,100 | Rs.1,57,100 - Rs.2,82,900 |
Matunga | Rs.1,70,500 - Rs.295,500 | Rs.2,13,200 - Rs.4,01,700 |
Mahim | Rs.2,36,000 - Rs.463,300 | Rs.2,57,400 - Rs.6,16,200 |
Dharavi | Rs.81,000 - Rs.96,800 | Rs.98,500 - Rs.1,15,600 |
Sion | Rs.1,52,800 - Rs.265,400 | Rs.1,83,100 - Rs.3,30,800 |
Bandra Reclamation | Rs.2,78,500 - Rs.278,500 | Rs.3,59,300 - Rs.3,59,300 |
Bandra West | Rs.1,50,900 - Rs.494,600 | Rs.1,91,400 - Rs.6,02,300 |
Bandra East | Rs.1,29,600 - Rs.3,27,400 | Rs.1,88,200 - Rs.4,16,500 |
Parigha Creek | Rs.1,05,600 - Rs.2,90,500 | Rs.1,51,400 - Rs.3,02,600 |
BKC & Kalina | Rs.1,48,200 - Rs.3,79,300 | Rs.1,87,700 - Rs.4,55,400 |
Bapnala | Rs.1,10,900 - Rs.1,10,900 | Rs.1,49,400 - Rs.1,49,400 |
Sahar | Rs.1,54,900 - Rs.1,54,900 | Rs.1,73,700 - Rs.1,73,700 |
Brahamanwada | Rs.1,34,000 - Rs.1,59,200 | Rs.1,99,000 - Rs.2,24,600 |
Andheri East | Rs.1,25,400 - Rs.2,68,000 | Rs.1,65,300 - Rs.3,30,900 |
Vile Parle East | Rs.1,03,600 - Rs.2,79,900 | Rs.1,27,900 - Rs.3,51,300 |
Vile Parle West | Rs.2,39,500 - Rs.3,29,500 | Rs.2,90,100 - Rs.4,11,400 |
Juhu | Rs.2,54,200 - Rs.4,14,800 | Rs.3,02,600 - Rs.5,07,300 |
Andheri West | Rs.1,55,800 - Rs.2,59,900 | Rs.2,13,600 - Rs.3,24,900 |
Andheri East - Kurla Road | Rs.1,42,800 - Rs.1,74,000 | Rs.1,72,700 - Rs.2,36,500 |
Andheri East Marol | Rs.1,10,900 - Rs.1,78,200 | Rs.1,39,800 - Rs.3,38,200 |
Parjapur Andheri | Rs.1,01,700 - Rs.1,01,700 | Rs.1,21,500 - Rs.1,21,500 |
Andheri Varivali | Rs.1,66,100 - Rs.1,90,300 | Rs.2,07,300 - Rs.2,50,400 |
Jogeshwari West | Rs.99,000 - Rs.2,21,300 | Rs.1,51,200 - Rs.2,88,500 |
Jogeshwari East | Rs.132,000 - Rs.2,31,700 | Rs.1,50,100 - Rs.2,52,700 |
Madh Village | Rs.90,400 - Rs.90,400 | Rs.1,31,600 - Rs.1,31,600 |
Andheri Versova | Rs.1,63,900 - Rs.2,60,200 | Rs.1,97,100 - Rs.3,25,200 |
Andheri Oshiwara | Rs.1,21,100 - Rs.2,60,800 | Rs.1,66,900 - Rs.3,02,800 |
Villages | Rs.55,100 - Rs.1,37,900 | Rs.66,000 - Rs.1,79,600 |
Goregaon East | Rs.6,,300 - Rs.2,46,000 | Rs.87,600 - Rs.4,02,500 |
Goregaon West | Rs.81,300 - Rs.2,38,600 | Rs.97,400 - Rs.3,17,100 |
Malad West | Rs.1,18,000 - Rs.2,10,600 | Rs.1,38,900 - Rs.2,96,100 |
Malad East | Rs.98,000 - Rs.1,87,800 | Rs.1,26,600 - Rs.2,48,300 |
Dindoshi | Rs.1,24,600 - Rs.1,99,600 | Rs.1,61,400 - Rs.251,700 |
Malad West South | Rs.1,25,400 - Rs.1,91,400 | Rs.157,000 - Rs.257,000 |
Malad West North | Rs.85,000 - Rs.1,98,000 | Rs.1,02,200 - Rs.293,900 |
Malvani | Rs.90,000 - Rs.1,19,100 | Rs.1,03,500 - Rs.137,100 |
Wadhvan | Rs.80,200 - Rs.1,68,200 | Rs.96,200 - Rs.206,600 |
Kandivali West | Rs.1,63,300 - Rs.163,300 | Rs.1,95,800 - Rs.195,800 |
Kandivali East | Rs.1,48,400 - Rs.186,400 | Rs.53,700 - Rs.211,700 |
Borivali West | Rs.1,14,700 - Rs.144,200 | Rs.1,37,700 - Rs.204,800 |
Borivali East | Rs.1,41,600 - Rs.242,900 | Rs.65,800 - Rs.302,100 |
The number of registrations for residential properties in Mumbai surged over two-folds for the month of December at 18,854 units compared with November due to reduction in stamp duty by the Maharashtra government, according to a report by Knight Frank India.
In November, total number of registrations was counted to be at 9,301 units. The registration in December 2019 was recorded to be 6,433 units, the consultant said.
Mumbai saw a total of 41,681 registrations between the period 1 September and 30 December 2020.
4 January 2020
The sales of houses in Mumbai has risen due to various measures taken by the industry stakeholders.
It was recorded that a total of 7,929 units were registered in October 2020, the residential sector of Mumbai saw the highest-ever registrations in October over the last 8 years. Registrations grew by a whopping 42% month-on-month (MoM) and 36% year-on-year (YoY), thanks to cut in stamp duty and the festive mood of Navratri and Dussehra.
The Reserve Bank of India (RBI) lowered the policy interest rates by over 120 bps in year-to-date (YTD) 2020 which played a significant role in the housing sales surging the city.
4 November 2020
In a bid to boost the real estate sector, Maharashtra government has decided to cut the stamp duty charges while registering a property. The stamp duty on sale deed documents has been reduced by 3 percent between 1 September and 31 December. The relaxation will continue with a 2 percent cut from 1 January to 31 March, 2021. The above relaxation is over and above the 1 percent reduction for two years which the government announced in the budget.
It must be noted here that stamp duty is levied while registering a document with the state registrar. In case of property registration, stamp duty is charged on the transaction value or circle rate, whichever is higher.
27 August 2020
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
Gain an edge by connecting with us via email. We promise never to spam you.
Request received - loud & clear!
Returning you to where you were...
Psst... We'll ensure you're the very first to know the moment rates change.
We'll email you immediately! You snooze, you lose.