Stamp duty in Pune holds significant importance as a government-imposed tax on legal documents involved in property transfers within the city. This tax, akin to income tax, serves to validate the buyer's ownership of the property. Governed by the Stamp Act of 1899 in India, it delineates the application of stamp duty on real estate transactions, with rates varying across states. Non-payment of stamp duty attracts penalties and legal ramifications.
As of 2023, Pune's stamp duty and registration charges remain unchanged. For male property owners, the stamp duty rate stands at 7% (including a Metro cess of 1%), accompanied by a registration fee of 1%. Conversely, female property owners benefit from a reduced stamp duty rate of 6% (including a Metro cess of 1%) while maintaining the same registration fee of 1%. In cases of joint ownership, stamp duty rates fluctuate based on the genders of the owners, ranging from 6% to 7%, while registration charges persist at 1%.
Homebuyers in Pune can leverage online stamp duty and registration calculators for precise estimates. For instance, if one purchases a property of Godrej River Royale for INR 2.5 Crore, the calculation unfolds as follows:
Resulting in a total stamp duty and registration charge of INR 20,00,000 in Pune.
Visit the official Maharashtra website: GRAS Maharashtra.
Navigate to e-Registration and proceed to Citizen Login.
Input the requisite details, calculate your stamp duty and registration fees, and complete the payment.
Upon payment, receive an e-signed deed and document for future reference.
Q. How is Stamp Duty Calculated in Pune?
A: In Pune, stamp duty charges is calculated by the Maharashtra state government which ranges from 5% to 6% of the property value, calculated on either the market value or the agreement value, whichever is higher.
Q. Are tax benefits applicable on stamp duty payments in Pune?
A: Yes, under Section 80C, homebuyers in Pune can claim a deduction of up to INR 150,000 on stamp duty payments.
6th Floor, BSB Capital, S. No. 80, CTS No. 1621 P Baner Road, &, Abhimanshree Society Rd Number 2, Junction, Pune, Maharashtra 411007
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