Stamp Duty in Maharashtra: Payment and Calculation
Jun 15, 2023Mumbai Real Estate

Stamp Duty in Maharashtra: Payment and Calculation

by Godrej Properties Limited

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The Maharashtra Stamp Act 1958 has undergone recent amendments, including updates regarding electronic payment of Stamp Duty, gift deed Stamp Duty, Penalty clauses, and specific Stamp Duty amounts. 

While there was a temporary reduction in Stamp Duty rates from August 2020 to March 2021, the stamp rates for 2023 remain unchanged from 2022, with percentages ranging between 6% and 7%, depending on the cities. Additionally, the property registration charge in Maharashtra stands at 1% of the total cost for properties priced below INR 30 Lakh.

Locations in MaharashtraStamp Duty in Maharashtra (For Men)Stamp Duty in Maharashtra (For Women)Property Registration Charges in Maharashtra
Within the limits of any Panchayat / Municipal Council / Cantonment Area within MMRDA4%3%1%
Within the limits of any Gram Panchayat3%2%1%
Within the municipal limits of any urban area6%5%1%
Stamp Duty in Maharashtra

Stamp Duty Concession for Female Homebuyers in Mumbai, Maharashtra

Female homebuyers in Mumbai, Maharashtra, are eligible for a concession of 1% when paying stamp duty. This initiative aims to promote women homebuyers and encourage financial independence.

Stamp Duty Maharashtra Charges Urban And Rural 2023 (Area wise)

CitiesStamp Duty Rates Applicable for Men (w.e.f. April 1, 2022)Stamp Duty Rates Applicable for Women (w.e.f. April 1, 2022)Registration Charges
Mumbai6% (includes 1% metro cess)5% (includes 1% metro cess)Rs 30,000 for properties above Rs 30 lakh; 1% of property value for properties below Rs 30 lakh
Pune7% (includes 1% metro cess, metro cess, local body tax, and transport surcharge)6% (includes 1% metro cess, metro cess, local body tax, and transport surcharge)Rs 30,000 for properties above Rs 30 lakh; 1% of property value for properties below Rs 30 lakh
Thane7% (includes 1% metro cess, local body tax, and transport surcharge)6% (includes 1% metro cess, local body tax, and transport surcharge)Rs 30,000 for properties above Rs 30 lakh; 1% of property value for properties below Rs 30 lakh
Navi Mumbai7% (includes 1% metro cess, local body tax, and transport surcharge)6% (includes 1% metro cess, local body tax, and transport surcharge)Rs 30,000 for properties above Rs 30 lakh; 1% of property value for properties below Rs 30 lakh
Nagpur7% (includes 1% metro cess, local body tax, and transport surcharge)6% (includes 1% metro cess, local body tax, and transport surcharge)Rs 30,000 for properties above Rs 30 lakh; 1% of property value for properties below Rs 30 lakh

How to Calculate Stamp Duty in Maharashtra?

The calculation of property registration charges in Maharashtra is influenced by a fixed ready reckoner rate set by the State Government. This rate serves as the minimum value, ensuring that properties cannot be purchased below this threshold. For example, if a property has a reckoner rate of INR 50,00,000, the stamp duty will be calculated at 6% of this value when using a Stamp Duty calculator in Maharashtra.

Methods of Paying Stamp Duty and Registration Charges

For the online procedure:

  • Visit the Government Receipt Accounting System website and select the option to "pay without registration"
  • Now, click on the Citizen option and payment to register your document. Fill in the online form, register your documents, select the payment mode, and enter the given captcha code.
  • Upon completion, you will get a challan with a CIN, reference number, PRN number, and branch code

Alternatively, for the offline procedure, there are different modes available. Stamp Duty can be paid using Stamp Paper. Another option is franking, where the agreement is printed and submitted to an authorised bank for Stamp Duty payment using a franking machine. Lastly, individuals can choose e-stamp as a practical method of paying Stamp Duty in Mumbai or Maharashtra. 

Lastly, Maharashtra stamp duty charges are influenced by factors like property valuation, location, type, and gender. Understand them to plan your payments better!

 

Frequently asked questions

1. Which cities have the highest Stamp Duty and Registration Charges in Maharashtra?

Ans. Pune, Thane, Nagpur, and Navi Mumbai have higher Stamp Duty rates than other cities. 

2. Are there any concessions in Stamp Duty charges for women?

Ans. Yes, women get a concession of 1% when paying stamp duty in Maharashtra. 

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