Stamp duty, registration fee in Ranchi in 2024

Registration of sale deed is mandatory under the Indian Registration Act, 1908. Only a registered sale deed acts as a legal proof of a buyer’s ownership over a property/land. As is true of home purchases anywhere in the country, property buyers in Ranchi, the capital of Jharkhand, have to pay stamp duty and registration fee at the time of property registration. This guide explains what these charges are and how will they impact your overall expenditure on property acquisition.

 

What is stamp duty?

Stamp duty is a tax charged by states in India on various transaction to generate revenue. Land being one of the most traded assets, transaction relation to immovable property are taxed by the imposition of stamp duty at specified rates by states. rates vary from one state to another but typically range between 3% to 8% of the property value.

 

Stamp duty and registration charges in Ranchi in 2024

Gender	Stamp duty	Registration charge as percentage of the property value
Men	4%	3%
Women	4%	3%
Joint	4%	3%

Irrespective of the gender, those who buy property in Ranchi have to pay a combined 7% of the deal value in stamp duty and registration charges. If the property is worth Rs 50 lakh, for example, the buyer will have to pay an additional Rs 3.50 lakh towards these duties.

Note here that the Jharkhand government recently rolled back the waiver it offered to women on the registration. With an aim to empower women, the Jharkhand government had, in 2017, announced that women will have to pay only Re 1 as the token registration charge for purchases worth up to Rs 50 lakhs. However, due to the huge loss to the state exchequer owing to the waiver, the state government, in May 2020, rolled back the scheme.

See also: How to check bhu naksha of a plot in Jharkhand

 

Stamp duty on other deeds in Jharkhand in 2024

Instrument	Stamp duty	Registration fee
Adoption deed	Rs 42	Rs 1,000
Mortgage	4.2%	2%
Partition	Rs 25 where exceeds Rs 1,000 but does not exceed Rs 5,000.	3%
Partition	5.25% of the value of deed where exceeds Rs 5,000 but does not exceed Rs 50,000.	3%
Partition	6.3% of the value of deed where exceeds Rs 50,000	3%
Bond	Rs 25 where exceeds Rs 1,000 but does not exceed Rs 5,000.	3%
Bond	5.25% of the value of bond where exceeds Rs 5,000 but does not exceed Rs 50,000.	3%
Bond	6.3% of the value of bond where exceeds Rs 50,000	3%
Conveyance	4%	3%
Partnership	Rs 42	Rs 1,000
Power of Attorney	Rs 31.50	Rs 1,000
Trust	Rs 45.25	Rs 1,000
Will	None	Rs 1,200
Gift where the value of the gift does not exceed Rs 1,000.	Rs 31.50	3%
Gift where the value of the gift exceed Rs 1,000 but not Rs 10,000.	Rs 31.50 for the first thousand; 21 for every 500 or part thereof by which the value exceed Rs 1,000	3%
Gift where the value of the gift exceed Rs 10,000.	The fee under clause (ii) in addition to Rs 31.50 for every 500 or part thereof by which the value of the gift exceed Rs 10,000	3%

Users will have to pay Rs 30.00 on every page of the document as service provider fee in addition to the registration fee.

How to calculate stamp duty charge in Ranchi?

Buyers have to pay the stamp duty based on the property’s value. This value cannot be less than the government-determined circle rates that are revised from time to time. The stamp duty will be calculated on the higher of the two amounts:

• Average value as per the circle rate.
• Purchase value.

Suppose, the circle rate in the area, where you are buying a 1,500-sq ft plot is Rs 1,000 per sq ft. In this case, you cannot register the property for less than Rs 15 lakh (1,500 x 1,000). Even if the seller is willing to sell this plot for Rs 14 lakh, the plot’s sale will not be registered below Rs 15 lakh. However, if the plot is being sold for Rs 20 lakh, you will have to get it registered on this value.

In any case, 7% of the amount will be paid as stamp duty and registration in Ranchi on property purchases. To do the calculation, buyers in Ranchi can also log on to regd.jharkhand.gov.in/jars/website.

 

 

Documents required for property registration in Ranchi

1. Agreement to sale
2. Sale deed
3. Encumbrance certificate
4. Property tax receipts
5. No-objection certificate
6. Power of Attorney, if applicable
7. Stamp duty and registration fees payment proof
8. Occupancy certificate for new buildings
9. Completion certificate for under-construction buildings
10. TDS deduction certificate (applicable on properties worth over Rs 50 lakh))
11. PAN Card of buyer
12. PAN Card of seller
13. Aadhaar card of seller
14. Aadhaar card of buyer
15. Passport size photos of buyer and seller
16. ID proof of buyer
17. ID proof of seller
18. ID proof of witnesses
19. Address proof of buyer
20. Address proof of seller
21. Address proof of witnesses

Online stamp duty payment in Ranchi

The entire process of stamp duty payment and property registration in Ranchi can be completed offline. However, like in many Indian states, buyers can pay the stamp duty and registration charges online as well. For this, one has to visit the Stock Holding Corporation of India website, www.shcilestamp.com. You could register yourself through the website by providing your mobile number and email id. Once you are registered, log in and select your state and the closest SHCIL branch in your city. After keying in all required fields, a reference receipt will be generated. You will have to use this receipt to get a copy of the e-stamp certificate from the nearest SHCIL branch.

How to pay stamp duty online?

Step 1: New users of SHCIL can click on ‘Register Now’ to proceed.

 

Step 2: Fill in the required information. Choose a User ID, password, security question and fill in your bank account details.

 

 

Step 3: Upon confirmation through an activation link sent to your registered email address, you can use your user ID and password to access the services.

 

 

Step 4: Login to the online module by using your activated User ID and Password.

Step 5: Select the state from the drop-down menu. Then select ‘Nearest SHCIL Branch’ option and provide mandatory details like First Party Name, Second Party Name, Article No, Stamp Duty Paid By and Stamp Duty Amount, to generate an Online Reference Acknowledgement No. of any amount for payment through Net Banking/Debit Card/NEFT/RTGS/FT.

Step 6: Citizens are required to carry a print out of the Online Reference Acknowledgement No. and visit the nearest Stock Holding Branch to take a final print out of the e-stamp certificate.

Note: Citizens have to bear the actual bank and payment gateway charges.

How to pay stamp duty offline in Ranchi?

Homebuyers have two option to pay stamp duty offline in ranchi:

Through authorised banks via franking

Banks in India are authorised to use franking for stamp duty payments.  Using franking, banks stamp property document or affix a denomination on it, which acts as a proof that the stamp duty for the transaction has been paid. Banks and other authorised agents use a franking machine to affix the documents. the buyer can pay the stamp duty amount in cash or by demand draft at the authorised bank associated with the SRO.

Through authorised stamp vendors

Homebuyers can visit the office of the sub-registrar which has jurisdiction over the area where the property is situated. After a thorough evaluation process, the officer in-charge would inform you how much stamp duty is to be paid of that specific instrument, after which you can buy non-judicial stamp papers of the same value from a nearby authorised stamps vendor.

 

How to check slots for deed registration in Ranchi?

In Ranchi, you can check the availability of appointment slots for property registration through the e-Nibandhan portal after property registration.

Step 1: Visit the e-Nibandhan portal to verify appointment slot availability.

Step 2: Enter the application ID, presenter details, mobile number, email ID and select an appointment date to proceed.

Conclusion

Paying stamp duty is a legal obligation that every homebuyer must shoulder. It’s crucial to consider this added expense during the planning phase of your home purchase since these charges substantially jack up the overall cost of property purchase. Be advised that banks do not include stamp duty and registration fee in the property valuation. This means this amount can’t be borrowed from the bank and must be arranged from your own pocket. Also remember that the money spent on stamp duty and registration fee qualifies for deduction under Section 80C of the Income Tax Act. This relief falls within the annual deduction limit of Rs 1.50 lakh under Section 80C.

FAQ

Can I pay stamp duty property online in Ranchi?

Home buyers can logon to www.shcilestamp.com, to pay stamp duty and registration charges online in Ranchi.

How much do I have to pay as stamp duty on property purchase in Ranchi?

Stamp duty is currently levied at a rate of 4% of the property value in Ranchi.

What is the registration charge in Ranchi?

The registration charge on property purchase in Ranchi is 3% of the property’s value.

Is paying stamp duty offline mandatory?

No, stamp duty for most states in India can be paid online.

Is vising the SRO necessary for property registry?

Yes, for the final verification, the buyer along with the seller and two witnesses must visit the sub-registrar office. All of them must carry their identity and address proof document. The buyer and the seller must carry all the property related papers

Can I register my property from another city?

No, you have to visit the office of the sub-registrar which has jurisdiction over the area where the property is located.

What are the channels to pay stamp duty online?

Homebuyers can pay stamp duty through cash, cheque, demand draft, pay order, RTGS, NEFT and account-to-account transfer.

In the case of sale deed, who is liable to pay stamp duty?

The buyer is liable to pay stamp duty on sale deeds.

 

Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at [email protected]