Stamp Duty and Registration Charges in Chennai

Stamp Duty and Registration Charges in Chennai

by Godrej Properties Limited

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Buying or selling a property is a significant decision that involves various legal and financial aspects. One crucial element that comes into play during property transactions in Chennai, or any part of India, is Stamp Duty. 

Every property transaction in India attracts  Stamp Duty. It serves as evidence of a government-authorized legal transaction in the sale or transfer of property ownership. Let’s find out everything that is worth knowing about flat Registration Charges in Chennai.

What are Flat Registration and  Stamp Duty Charges in Chennai?

The  Stamp Duty and Registration Charges in Tamil Nadu in 2022 are relatively higher than in other Indian states. The  Stamp Duty rate in Chennai is 7% of the market value. It is the same for sale, exchange, and gift documents. Additionally, the Registration fee is 4% of the market value for these transactions. 

For a property valued at INR 1 crore, the  Stamp Duty would amount to INR 7 lakh, followed by Registration Charges of INR 4 lakh. Different rates apply to other documents, such as mortgages, sale agreements, building construction agreements, cancellations, and general Power of Attorney documents.

How can you pay  Stamp Duty and Registration Charges in Chennai, Tamil Nadu

You can follow the online or offline process to pay Registration Charges and  Stamp Duty in Tamil Nadu. 

  1. Calculate the payable amount using a land Registration fee calculator online
  2. Visit the website of Stock Holding Corporation of India Limited (SHCIL) and select the state as Tamil Nadu.
  3. Download the required form and follow the e-stamping guidelines.
  4. Registered users can log in using their ID and password, while new users can click on "Register now".
  5. Fill out the application form, download it, and submit it with relevant documents to the nearest SHCIL branch.
  6. Receive a challan number and a receipt upon submission.

For offline payments at the sub-registrar’s or SHCIL’s office, two witnesses are required, and upon verification, the sub-registrar will provide the document for flat or land Registration Charges in Chennai.

Factors Affecting the  Stamp Duty and Registration Charges in Chennai

Senior citizens are eligible for lower  Stamp Duty, while there are no specific concessions for women buyers. Regardless of gender or joint ownership, the standard applicable rate is 7%. 
Urban areas have higher rates than properties located in rural or semi-urban areas and are subject to government guidelines. Additionally, old properties have lower  Stamp Duty than new ones.


Frequently asked questions

1. Are there any Registration Charges for a resale property?

Ans: Resale flat registration charges in Chennai are 1% of the property’s market value or agreement value, while Stamp Duty is 7%.

2. What documents are to be submitted when paying Stamp Duty in Chennai?

Ans: The Stamp Duty receipt, Sale/Conveyance deed, PAN Card, Identity Proof, No-Dues certificate, Passport-size photos, Pattadar Passbook, and NOC are required to be submitted when paying Stamp Duty in Chennai.

 

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