Jun 08, 2023

Stamp Duty & Registration Charges in Pune | Godrej Properties

by Godrej Properties Limited

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What Is The Stamp Duty In Pune?

Stamp duty in Pune is a government-imposed tax on legal documents related to transferring assets or property within the city. It is equivalent to income tax and is aimed at establishing the buyer's property ownership. In India, Section III of the Stamp Act of 1899 outlines the application of stamp duty on real estate transactions. The specific cost of stamp duty varies across states. Non-payment of stamp duty results in penalties and legal ramifications.

Stamp Duty And Registration Charges In Pune 2023

The stamp duty and registration charges in Pune differ from state to state and as per the gender and type of property ownership.

Pune's current stamp duty and registration charges have remained unchanged as of 2023. For male property owners, the stamp duty rate is 7% (Including Metro cess of 1%), while the registration fee is 1%. Conversely, females have a stamp duty rate of 6% (Including Metro cess of 1%), with the same registration fee of 1%. In cases of joint ownership, the stamp duty rates fees differ depending on the combination of owners' genders, i.e., 6.5% for male and female owners, 6% for both female owners, and goes up to 7% in cases where both owners are male while registration charges remain 1%.

Calculator for Stamp Duty in Pune

To get an accurate estimate of stamp duty rates in Pune, homebuyers can make use of online stamp duty and registration calculators. To help you better, here’s an example of how Pune's registration and stamp duty charges are calculated.

Suppose a buyer purchases a property in Pune for INR 70 lakh; the stamp duty will be calculated as follows:

  • The Stamp Duty @ 5% will be INR 350000
  • The Local Body Tax (LBT) @ 1% will be INR 70000
  • The Metro Cess (announced in April 2022) @ 1% will be INR 70000
  • The Registration Charges @ 1% will be INR 70000

After the entire computation, the total stamp duty and registration charges in Pune will be INR 560000.

Area-Wise Stamp Duty In Pune

The stamp duty and registration charges in Pune differ from area to area within the city. Here’s how:

  • The stamp duty is 4% Within the administrative limits of a Gram Panchayat.
  • The stamp duty is 5% within the jurisdiction of any panchayat or Rural area falling under the MMRDA (Mumbai Metropolitan Region Development Authority).
  • The stamp duty is 5% Within the administrative territories of the Cantonment Area or Municipal Corporation.

How To Pay Stamp Duty Online In Pune?

Paying stamp duty and property registration charges in Pune has become relatively easier with online modes. Here’s how you can pay stamp duty in Pune online:

  1. Visit the official website of Maharashtra at https://gras.mahakosh.gov.in/igr/frmIndex.php
  2. Click on e-Registration, and you will be redirected to https://appl1igr.maharashtra.gov.in/NGDRS_MH/
  3. Click on Citizen Login, and from there on, proceed accordingly.

Your stamp duty and property registration fees in Pune will be calculated based on the information furnished. After making the payment, you will receive your e-signed deed and document for future purposes.

Factors Affecting Stamp Duty Charges In Pune

The government of Maharashtra levies stamp duty and registration charges in Pune for new and resale flats, homes, commercial spaces, etc. However, the final stamp and registration charges in Pune may vary on multiple factors:

  • Type of property and intended usage: In Pune,  stamp duty charges and registration fees are higher on residential properties than on commercial properties.
  • The location of the property: The location has a significant impact on the charges, whether it is in rural, urban, or semi-urban regions.
  • The property's market value: The prevailing market value must also be considered when calculating the stamp duty charges.
  • The age and gender of the property buyer: The age and gender of the property buyer majorly affect the stamp duty and registration charges.

 

Frequently asked questions

1.What is the current stamp duty rate in Pune?

Ans: Pune's current stamp duty and registration charges for females are 6%, while for male property owners, the stamp duty rate is 7%. In cases of joint ownership, it is 6.5% for male and female owners, 6% for both female owners, and 7% if both owners are male.

2.Are tax benefits applicable on stamp duty payments in Pune?

Ans: Under Section 80C, a homebuyer purchasing a property in Pune can claim a deduction of up to INR 150000.

3.How and where to pay stamp duty and registration charges in Pune?

Ans: One can pay Pune's stamp duty and registration charges.

4.Can I get a refund for the stamp duty in Pune?

Ans: If you purchase a property in Pune, you may claim a stamp duty and registration fee refund within the first six months of purchase.

5.What is the flat registration process in Pune?

Ans:  Right after the sale deed is signed, the documents and title of the property are verified. After that, the homebuyer can pay the stamp duty and registration fees online. Then, the buyer and seller must get the deed registered at the local registrar’s office to receive two copies of the property record will be handed to the buyer and seller.

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