Stamp duty and registration charges in Jammu & Kashmir


Discussed in this article, are the stamp duty and registration changes that one needs to pay, to become a property owner in Jammu & Kashmir (J&K)

Anyone is free to buy property in Jammu and Kashmir (J&K), since the government, in October 2020, issued a notification titled, ‘The Union Territory of Jammu and Kashmir Reorganisation (Adaptation of Central Laws) Third Order, 2020’. Barring agricultural land, one is free to purchase properties in the municipal areas of J&K, even if one is not a domicile of that state.

The move follows the withdrawal of J&K’s special status provided under Article 370 of the Constitution on August 5, 2019 and the division of the state into two union territories (UTs) of J&K and Ladakh.

Just like any other Indian state, one is liable to pay stamp duty and registration charges on property purchase, to get the asset registered in one’s name. Discussed in this article is the amount you will be paying towards Jammu Kashmir stamp duty and registration charges.

 

Stamp duty

 

Stamp duty and registration charges in Jammu and Kashmir

J&K could be counted among the states where stamp duty and registration charges are comparatively low, especially for women.

While 1.2% of the asset value is charged as the registration fee in the UT, this rate is applicable on the registration of sale deeds only. In case the deed type is different, i.e., gift, exchange, relinquishment, etc., the rates vary.

 

Ownership Stamp duty as percentage of the property value Registration charge as percentage of the property value
Men 7% 1.2%
Women 3% 1.2%
Man + man 7% 1.2%
Man + woman 5% 1.2%
Woman + woman 3% 1.2%

See also: 11 facts about stamp duty levied on property purchase

 

Stamp duty and registration charges for women in J&K

In May 2018, former chief minister Mehbooba Mufti abolished the 5% stamp duty that was being charged on the purchase of immovable property by women, providing them a complete waiver of this duty. The move was aimed at encouraging ‘families to register their properties in the names of their sisters, daughters, wives and mothers’. Through the same order the stamp duty charges for men was also reduced to 5% from the earlier 7%.

However, following the bifurcation of the state into two UTs in 2019, the stamp duty for women in J&K is 3% of the property value and for men it is 7% of the property value.

 

How to calculate stamp duty in Jammu and Kashmir?

Here is an example on how to calculate the stamp duty and registration charges, supposing that you purchase a property worth Rs 50 lakhs in J&K.

If the property is being registered in the name of a woman:

Stamp duty applicable: 3% of the property value = Rs 1.50 lakhs.

Registration charge applicable: 1.2% of the property value = Rs 60,000.

Total stamp duty and registration charge: Rs 2.10 lakhs.

 

If the property is being registered in the name of a man:

Stamp duty applicable: 7% of the property value = Rs 3.50 lakhs.

Registration charge applicable: 1.2% of the property value = Rs 60,000.

Total stamp duty and registration charge: Rs 4.10 lakhs

 

If the property is being registered jointly in the names of a woman and a man:

Stamp duty applicable: 5% of the property value = Rs 2.50 lakhs

Registration charge applicable: 1.2% of the property value = Rs 60,000.

Total stamp duty and registration charge: Rs 3.10 lakhs.

 

Documents to be provided for property registration in J&K

Given below is the list of documents you have to provide, to register a property in J&K:

  • Encumbrance certificate
  • Challan of stamp duty and registration charge payment
  • Proof of identity of the buyer/s and the seller/s
  • Details of the property
  • PAN card details of both parties
  • Power of attorney, if any
  • Sale deed
  • Map of the land

Note that the list is only indicative and you may be asked to provide additional documents, depending on the type of property you are purchasing.

 

Property registration in Jammu and Kashmir

You will have to visit the sub-registrar’s office, to get the registration done on a pre-scheduled time and date.

 

FAQs

Can I buy agricultural land in J&K?

One can buy agricultural land in J&K only after receiving a prior approval from the government. According to the new rules, no sale, gift, exchange or mortgage of any land will be valid, if it is made in favour of a person who is not an agriculturist, unless the government or an officer authorised by the government grants permission for the same.

Can I use agricultural land in J&K for other purposes?

Although agricultural land in J&K cannot be used for non-agricultural purposes, one can do so if they receive the permission of the district collector to do the same.

 

Was this article useful?
  • 😃 (1)
  • 😐 (0)
  • 😔 (2)

[fbcomments]