Property buyers in Punjab have a get the sale deed registered to make the transaction legal. For this, they are liable to pay tax to the government in the form of stamp duty and registration fee. This guide will provide you the answer to all your queries about stamp duty in Punjab in 2024.
Stamp duty charges in Punjab 2024
| Single ownership | Stamp duty | Registration charge |
| Man | 7% | 1% |
| Woman | 5% | 1% |
| Joint ownership | ||
| Man + woman | 6% | 1% |
| Man + man | 7% | 1% |
| Woman + woman | 5% | 1% |
From the overall stamp duty charge, 1% is to fund water supply and environment improvement schemes in the northern state while another 1% is meant for the Punjab Infrastructure Development Board. So, after the Punjab government hiked the stamp duty by 1% to fund water supply and environment improvement programmes in urban areas of the state, stamp duty on property registration here has increased to 7%. In Punjab, a percentage of the stamp duty is charged as the social infrastructure cess and environment improvement programmes cess.
Note that if there is a mutual exchange of a property in a family, the executors will have to pay Rs 900 as stamp duty. In case a property is transferred to a blood relation, no stamp duty liability arises.
Stamp duty on various deeds in Punjab in 2024
| Document wise detail of stamp duty, registration fee and facilitation charges | |||||
| Sr. No | Deed name | Stamp duty | Registration fee | facilitation charges | PIDB |
|
1 |
Sale/ Gift |
5% of the Consideration amount
+ 1 % of SIC (Social Infrastructure Cess) |
1 % of the Consideration amount (Max. Rs. 2 lac ) | Rs.1000/- (for Consideration amount upto to 10 lac), Rs.3000/- (for Consideration amount between 10 lac to 30 lac), Rs.5000/- (for
Consideration amount above 30 lac) |
1% of Consideration amount |
| 2 | Transfer of Property | Nil | Nil | Rs. 500/- | |
|
3 |
General Power of Attorney (upto 5 person) |
Rs. 2000/- |
Rs. 400/- |
Rs. 2000/- |
|
|
4 |
General Power of Attorney (more than 5 person) |
Rs. 4000/- |
Rs. 400/- |
Rs. 2000/- |
|
|
5 |
Special Power of Attorney |
Rs.1000/- |
Rs. 100/- |
Rs. 2000/- |
|
|
6 |
Cancellation of GPA |
Rs.1000/- |
Rs. 400/- |
Rs. 2000/- |
|
|
7 |
Cancellation of SPA |
Rs. 500/- |
Rs. 100/- |
Rs. 2000/- |
|
|
8 |
Mortgage Deed (without Possession) |
4% of the Consideration amount |
1 % of the Consideration amount (Max. Rs. 2 lac ) |
Rs. 1000/- |
|
|
9 |
Mortgage Deed (with Possession) |
4% of the Consideration amount |
1 % of the Consideration amount (Max. Rs. 2 lac ) |
Rs. 500/- |
|
|
10 |
Pattanama /Lease |
||||
|
i |
Pattanama /Lease (less than one year) | 4% of (Annual rent amount) | 1 % of Annual rent amount |
Rs. 500/- |
|
|
ii |
Pattanama /Lease (from period of lease from 1 to 5 years) | 8% of (Annual Average rent amount) | 1 % of Annual rent amount | Rs. 500/- | |
|
iii |
Pattanama /Lease (from 5 to 10 years) | 3% of (Annual Average rent amount) | 1 % of Annual rent amount | Rs. 500/- | |
|
iv |
Pattanama /Lease (from 10 to 20 years) | 3 % of (Annual Average Rent x 2) | 1 % of (Annual Rent x 2) | Rs. 500/- | |
|
v |
Pattanama /Lease (from 20 to 30 years) | 3 % of (Annual Average Rent x 3) | 1 % of (Annual Rent x 3) |
Rs. 500/- |
|
|
vi |
Pattanama /Lease (from 30 to 99 years) | 3 % of (Annual Average Rent x 4) | 1 % of (Annual Rent x 4) | Rs. 500/- | |
|
11 |
Will/ Cancellation of Will |
Nil |
Rs. 4000/- |
Rs. 500/- | |
| Consideration amount means Consideration amount or Collector rate, whichever is higher | |||||
| Mutation Fee Rs. 600/-, where ever required | |||||
| Pasting Fee Rs. 200/- applicable to all the documents | |||||
Stamp duty in Punjab for women
If a property is registered in the name of a woman, lower stamp duty charges have to be paid by the buyer in Punjab. Currently, women buyers have to pay 5% of the property cost as stamp duty. The levy remains the same, in case the property is jointly owned by two women. In case a joint property is being registered in the name of a man and a woman, the applicable stamp duty will be 6% of the transaction value.
Registration charges in Punjab
Irrespective of the gender of the buyer or the location of the property, 1% value of the transaction cost is charged as the registration fee for property purchases in Punjab.
Stamp duty calculation in Punjab
District administrations are responsible for fixing a standard rate for land and other properties, below which a transaction cannot be registered. These rates are known as circle rates or guidance values or guideline values.
Buyers must note that even if a property is being purchased at a value lower than the prevalent guidance value, the stamp duty charges will be applied on the guidance value only. If the transaction is valued higher than the guidance value, the stamp duty will be charged according to the deal value and not at the guidance value.
Punjab stamp duty and registration charges example
Suppose Satvir Singh bought a flat in Ludhiana for Rs 50 lakhs. Singh later realises that the value of the property, according to the circle rates, is only Rs 40 lakhs. Since the stated value of the property on the sale deed is Rs 50 lakhs, Singh will pay 7% of Rs 50 lakhs as the stamp duty and an additional 1% as the registration charge. This works out to a total additional outgo of Rs 4 lakhs (Rs 3.50 lakhs as stamp duty and Rs 50,000 as the registration charge).
Read also: How to find Punjab land records online on PLRS (Punjab Land Records Society)
Stamp duty payment in Punjab
Buyers can pay the stamp duty online in Punjab after buying e-stamps from the Stock Holding Corporation of India Limited (SHCIL) website, the agency selected by the central government for e-stamps across the country. Buyers can visit the SHCIL portal to pay stamp duty on their property purchase.
See also: Inside Kapil Sharma’s homes in Mumbai and Punjab
How to get e-stamping certificate in Punjab?
Home buyers in Punjab can get the e-stamping done from the Stock Holding Corporation of India Limited (SHCIL) portal. They can also fill the e-stamping application form by visiting the nearest authorised collection center or CRA branch office, to do the same.
FAQs
What is the stamp duty for women buyers in Punjab?
Women in Punjab have to pay 5% as stamp duty if the property is registered only in women’s names and 6% if it is registered jointly in the name of a man and woman.
Can I pay stamp duty online in Punjab?
Yes, buyers can pay stamp duty online in Punjab by registering on the official website. Earlier, stamp duty had to be paid by purchasing non-judicial stamp papers from the government treasury. Now, the Punjab government has facilitated the payment of stamp duty through the purchase of Punjab e-Stamp paper on the SHCIL website.
What is land registration charge in Punjab?
Buyers need to pay 1% of the property’s cost as registration charges.
