Jun 22, 2023Investments

Stamp Duty Charges in Chennai|Calculation and Procedure

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.

Stamp Duty and Registration Charges in Chennai

Stamp Duty and Registration Charges in Chennai 2023:Comprehensive Overview

Here is a comprehensive table outlining the latest stamp duty and registration charges in Chennai for various property transactions as of 2023:
 

DocumentStamp DutyRegistration Fee
Sale7% on the market value of property9% on the market value of the property
Exchange7% on the market value of the property having a greater value9% on the market value of the property having a greater value
Gift7% on the market value of the property9% on the market value of the property
Simple Mortgage1% on the loan amount, subject to a maximum of Rs 40,0001% on the loan amount, subject to a maximum of Rs 10,000
Mortgage with possession4% of the loan amount1% of the loan amount, subject to a maximum of Rs 2,00,000
Sale agreementRs 201% on the money paid in advance (1% on the total amount if possession is given)
Agreement relating to building construction1% of the value of construction or the consideration specified in the agreement, whichever is higher1% of the value of construction or the consideration specified in the agreement, whichever is higher
CancellationRs 50Rs 50
General Power of Attorney (GPA) to sell immovable propertyRs 100Rs 10,000
General POA to sell immovable property (power is given to family members)Rs 100Rs 1,000
General POA given for consideration4% on consideration1% on consideration or Rs 10,000, whichever is higher

Stamp Duty and Registration Charges in Chennai for Different Genders

Registration charges and stamp duty in Tamil Nadu remain the same for all genders and across urban and rural areas. Here's a simplified representation:
 

BuyerStamp DutyRegistration Charges
Men7% of the market value of a property1% of the market value of a property
Women7% of the market value of a property1% of the market value of a property
Joint Owners7% of the market value of a property1% of the market value of a property

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.

How to Calculate the Registration and Stamp Duty Charges in Chennai?

The stamp duty and property registration charges in Chennai are calculated based on the property's market value, determined by government guidelines. Use an online Tamil Nadu land registration fees calculator for accurate and convenient calculations based on the property's value and location.

What is the Procedure for Property Registration in Chennai?

To register your property in Chennai, follow these steps:

  • Thorough Inspection: Inspect the property and perform due diligence with a lawyer.
  • Sale Deed Preparation: Prepare the agreement of sale on stamp paper.
  • Registration: Register the property within four months of the sale at the Registrar/Sub-Registrar’s office.

Documents Required for Property Registration in Chennai

To register a property in Chennai successfully, you'll need the following essential documents:

  • Signed stamp duty/receipt confirming the payment of stamp duty
  • PAN card
  • Identity proof for the executant and the claimant (PAN card, driving license, voter ID, passport, Aadhaar card, etc.)
  • Identity proof for witnesses
  • Two passport-sized photographs for both parties
  • No Objection Certificate (NOC) if applicable
  • No due certificate/Tax clearance certificate
  • Relevant property documents (sale deed, conveyance deed, power of attorney, etc.)
  • Pattadar passbook

 


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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