Stamp duty, registration fee in Pune in 2024

Stamp duty is the fee the buyer has to pay to register property in government records.

Homebuyers in Pune have to pay stamp duty and registration charges to get their property registered in government records. This guide is meant to help you have all the information about stamp duty and registration charges on property purchase in Pune in 2024.

 

What is stamp duty?

Stamp duty and registration charges are two additional costs that buyers in Pune have to bear, during property purchase. Paid to the government at the time of registration, payment of these charges is compulsory under the provisions of the Registration Act, 1908.

Recall here that stamp duty is a percentage of the property value that the buyers are liable to pay, for registration. Fixed by the state government, the stamp duty Pune is periodically revised to boost or curb demand. In a slow-moving market, rates are tweaked downwards to push up demand.

Stamp duty and registration charges in Pune in 2024

Gender of the person in whose name the property is registered Stamp duty Registration charges
Men 7% Properties above Rs 30 lakh: Rs 30,000.

Properties below Rs 30 lakh: 1% of the deal value

Women 6% Properties above Rs 30 lakh: Rs 30,000.

Properties below Rs 30 lakh: 1% of the deal value

Joint 6.5% Properties above Rs 30 lakh: Rs 30,000.

Properties below Rs 30 lakh: 1% of the deal value

Stamp duty for women in Pune in 2024

The Maharashtra government offers women homebuyers a one percent rebate on stamp duty on property. The state declared this concession for the first time in April 2021.

Check out price trends in Pune

Document handling charges

The Inspector General of Registration Office has imposed document handling charges on leave and licence agreement registration documents at Rs 300. For first-sale property registration documents, the charges are Rs 1,000. Prior to this, there were no charges for document handling in both the categories. As a result of these changes, homebuyers and tenants in Pune will now have to pay additional fees for these services.

“For online services, expenses are to be made on establishing computer infrastructure and its maintenance, modernisation of equipment and set up, storage, hardware installation cost and internet connectivity expenses. Hence it has been imperative to impose document handling charges to meet the rising cost,” the state government said in its directive.

How to calculate stamp duty in Pune?

Buyers have to pay the rate fixed on the overall value of the property. However, to arrive at the property value, the buyer must first find out the circle rate in the area in which the property is located.

What is ready reckoner rate?

The ready reckoner rate (RR), as it is known across Maharashtra, or the circle rate, is the government-fixed rate, below which a property cannot be sold in an area. In a scenario where the seller has priced the property at less than the government-fixed ready rates, the stamp duty calculation will still be based on the RR rates.

By multiplying the circle rate with the area of the property, the buyer can calculate the value of the property and then calculate the stamp duty.

Example

Suppose Ram Kumar is buying a home which has a carpet area of 300 sq metres. The property is at Baner, where the circle rate is Rs 42,760 per sq metre. In this case the overall value of the property will be:

Carpet area x rate per sq metre = Property value

400 x 42,760 = Rs 12,828,000

Considering the stamp duty in Pune at 5% of the property value, Kumar will have to pay Rs 6,41,400 as stamp duty. Since the property’s worth is over Rs 30 lakhs, Kumar will be paying an additional Rs 30,000 as the registration charge.

See also: Top localities in Pune for buying or renting property

 

Can you pay stamp duty online?

Buyers in Pune can pay the stamp duty and the registration charges online, by visiting the official portal, (click here).

 

Stamp duty and registration charges in Pune

 

Stamp duty and registration charges in Pune

 

Stamp duty and registration charges in Pune

 

Once you have registered yourself, you can proceed with the payment. For this you will have to provide every detail pertaining to the property and pay using online channels, such as internet banking. A receipt will be generated once the payment is successful. After this, the buyer can book an appointment and proceed with the property registration.

Alternatively, buyers can also pay the stamp duty in Pune by purchasing non-judicial stamp papers from a recognised vendor or through franking, where authorised banks stamp your document or affix a denomination on it, which acts as a proof that the stamp duty for the transaction has been paid.

latest update

Maharashtra govt extends stamp duty amnesty scheme till June 30, 2024

In a move to increase revenue generation, the Maharashtra government has decided to extend its stamp duty amnesty scheme for the third time until June 30, 2024. Named the Mudrank Shulakh Abhay Yojana, the scheme was introduced in December 2023 to encourage homebuyers to settle outstanding stamp duty dues.

Under the scheme, the state government will exempt the entire stamp duty fee and penalty imposed on property documents registered or not registered between January 1, 1980, and December 31, 2020. This includes properties under Mhada, Cidco or even the SRA.

According to the Inspector-General of Revenue, Maharashtra, a full waiver is granted for all properties with stamp duty and penalty amount up to Rs 1 lakh. For all properties with stamp duty and penalty above Rs 1 lakh, a 50% waiver on stamp duty and a 100% waiver on penalty is granted.

FAQs

What is the stamp duty on property purchase in Pune?

In Pune, buyers have to pay 5% of the property value as stamp duty. However, due to the Coronavirus-induced slowdown, the Maharashtra government has announced a reduction in stamp duty rates by up to 3% till March 31, 2021.

Can I pay stamp duty online in Pune?

Buyers can pay the stamp duty online by visiting the official portal, https://gras.mahakosh.gov.in/

Is visiting the sub-registrar’s office necessary in Pune?

Parties involved in a property transaction have to visit the sub-registrar’s office for biometric identification.

 

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