Jun 15, 2023Investments

Stamp Duty in Thane|Poperty Registration, Calculation & Payment

by Godrej Properties Limited

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In India, every State government imposes a stamp duty on property transfers. In Maharashtra, the State has provided a stamp duty refund to female homebuyers from 2021 and will continue to do so in the fiscal year 2022–23. The action is anticipated to motivate more women to buy homes

Stamp Duty and Registration Charges in Thane

 

All About Stamp Duty and Registration Charges in Thane 2023

Home buyers in Thane must visit the sub-registrar's office for the same. By registering the property, the buyer establishes their status as the legal owner and obtains protection from any ensuing disputes. Only once the stamp duty and registration costs have been paid at the sub-registrar's office, is the process of registering a property in Thane considered to be complete. These fees are assessed on every property transaction that takes place in the state since they are a significant source of revenue for the Maharashtra government.

Stamp Duty and Registration Charges in Thane

Here is a quick overview of stamp duty and registration fees in 2023 in case you plan to buy a property in Thane.7% (plus 1% LBT and 1% Metro Cess) is the current stamp duty rate. In order to determine your entire outlay for the acquisition of your home in Thane, it is essential to compute the stamp duty and registration fees.

GenderStamp Duty RatesRegistration Charges
Male7% (Stamp duty 5% + Local Body Tax (LBT) 1% + metro cess 1%)For properties above Rs 30 lakh - Rs 30,000.
For properties below Rs 30 lakh - 1% of the property value.  
Female7% (Stamp duty 5% + Local Body Tax (LBT) 1% + metro cess 1%)For properties above Rs 30 lakh - Rs 30,000.
For properties below Rs 30 lakh - 1% of the property value.  
Joint (Male + Male)7% (Stamp duty 5% + Local Body Tax (LBT) 1% + metro cess 1%)For properties above Rs 30 lakh - Rs 30,000.
For properties below Rs 30 lakh - 1% of the property value.  
Joint (Female + Female)6% (Stamp duty 4% + Local Body Tax (LBT) 1% + metro cess 1%)For properties above Rs 30 lakh - Rs 30,000.
For properties below Rs 30 lakh - 1% of the property value.  

How to calculate Stamp duty and Registration charges in Thane?

Following is a breakdown of the Thane stamp duty rates and registration fees for a property acquisition of Rs. 50 lakh:

  • Stamp duty @5% - Rs 2.5 lakh,
  • LBT @1% - Rs 50,000,
  • Metro Cess @1% - Rs 50,000
  • Registration charges - Rs 30,000

We hope that you now have a clear idea of Stamp Duty and registration charges in Thane.

How to Register Property Online in Thane?

Registering property online in Thane is a streamlined process:

  • Visit www.gras.mahakosh.gov.in, Thane's online property registration portal.
  • For new users, complete the registration process and log in for existing users.
  • Enter property details and location.
  • Select a payment gateway from the listed nationalised banks.
  • Make the payment and retain the payment receipt for reference.

Key Factors Affecting Stamp Duty and Registration Charges in Thane

Several factors influence stamp duty and registration charges:

  • Property Age: New properties generally incur higher stamp duty than older ones.
  • Property Location: Prime areas have higher charges than affordable localities.
  • Owner's Gender: Stamp duty Thane varies based on the property owner's gender, with higher rates for males.
  • Property Use: Commercial properties face higher charges than residential ones.
  • Facilities: Properties with more amenities and higher market value incur increased stamp duty.

Stamp Duty and Registration Charges in Thane Online Payment

Follow these steps for online payment:

  • Visit Maharashtra's Department of Registrations and Stamps portal.
  • Select 'Pay Without Registration' from the homepage.
  • Choose 'Citizen' and 'Make Payment to Register Your Document.'
  • Fill in the property details and complete the payment form.
  • Generate a challan for future reference during deed execution.

Stamp Duty and Registration Charges in Thane - Offline Payment

To pay offline:

  • Visit the nearest stamp duty and registration department office.
  • Request the payment form.
  • Complete the payment through your preferred method.
  • You can also visit designated post offices or banks for offline payment.

Stamp Duty and Registration Charges in Thane - Exemption & Rebate

Under Section 80C of the Income Tax Act, you can claim tax deductions on stamp duty and registration charges up to Rs. 1,50,000 per transaction. Keep these points in mind:

  • Claim the deduction when filing income tax returns.

Deductions apply in the year when expenses were incurred.

Conveyance Deed, Sale Deed, Agreement for Sale

  • A Conveyance Deed transfers property rights from one person to another.
  • Stamp Duty follows Article 25 of Schedule I of The Bombay Stamp Act, 1958.
  • The registration fee is 1% of the Market Value (MV) or Rs. 30,000.

     

Frequently asked questions

1. How can I pay Thane's registration fees and stamp duty online?

Ans. Thane property buyers can electronically pay stamp duty and registration fees through www.gras.mahakosh.gov.in. 

2. What are the registration charges in Thane?

Ans. Depending on the price of the property, Thane's registration fees range from Rs 30,000 to 1% of the property's value.

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