Regardless of the economic turmoil, the housing price in Hyderabad has jumped by 7% in the last quarter of 2021, making it the second most expensive housing market in India. Amid rising property prices, it is imperative that property buyers consider the associated costs of purchasing a house, such as stamp duty and registration charges in Hyderabad. Read on to know how much stamp duty and registration fee you need to pay while purchasing a property in Hyderabad.
Stamp duty is a tax that the government levies when a property’s ownership is transferred from one individual to another. Only after completing the Hyderabad stamp duty payment shall you be considered the legal owner of your property. In simple words, payment of stamp duty works as proof of ownership in case of any dispute.
Stamp duty charges are different in every state. Further, while purchasing a property, you will also need to pay property registration fee in addition to the stamp duty.
Typically, Telangana’s Registration and Stamp Department levies about 6% of a property’s market value as the registration fee. The overall flat registration charges in Hyderabad comprise the following:
Moreover, unlike many Indian states, the stamp duty charges in Telangana do not change depending on an applicant’s gender.
Here is a rundown on stamp duty and registration charges in Hyderabad for different purposes:
|Sale agreement||Registration charges||Stamp duty|
|Sale of immovable property in special and selection grade municipalities and corporations||0.5%||4%|
|Sale of immovable property in other locations||0.5%||4%|
|Semi-furnished flat/apartment sale in all locations||0.5%||4%|
|Sale agreement along with GPA||Rs. 2,000||5% (1% Non-adjustable and 4% adjustable)|
|Sale agreement along with possession||0.5% (minimum is Rs.1000 and maximum is Rs.20,000)||4%|
|Sale agreement without possession||0.5% (minimum is Rs.1000 and maximum is Rs.20,000)||0.5%|
|Partition type||Registration charges||Stamp duty|
|Partition among family members||Rs. 1,000||0.5% on VSS (maximum up to Rs.20,000)|
|Partition among co-owners who are not family members||Rs. 1,000||1% on VSS|
|Settlement among family members||0.5% (maximum Rs.1,000 and minimum Rs.10,000)||1%|
|Settlement for charity||0.5% (maximum Rs.1,000 and minimum Rs.10,000)||1%|
|Settlement among non-family members||0.5% (maximum Rs.1,000 and minimum Rs.10,000)||2%|
|Gift for relatives||0.5% (maximum Rs.1,000 and minimum Rs.10,000)||1%|
|Gift in other scenarios||0.5% (maximum Rs.1,000 and minimum Rs.10,000)||4%|
|Documentation type||Registration charges||Stamp duty|
|General power of attorney authorising a family member to transfer, sell or develop an immovable property||0.5% (minimum Rs.1,000 and maximum Rs.20,000)||Rs. 1000|
|General power of attorney authorising an agent to transfer, sell or develop an immovable property||0.5% (minimum Rs.1,000 and maximum Rs.20,000)||1%|
|General power of attorney for any other purpose||Rs. 1,000||Rs. 50|
|Special power of attorney||Rs. 1,000 for attestation||Rs. 20|
|Will||Rs. 1,000||Not known|
To calculate stamp duty and registration charges for a flat in Hyderabad, you need to consider the value of the property first.
For example, suppose you want a property worth Rs. 25,00,000. In such a situation, you will have to pay a stamp duty of 4%. Additionally, you are also required to pay a registration fee of 0.5%.
Thus, the stamp duty you must pay will amount to Rs. 1,00,000 i.e., 4% of Rs. 25,00,000.
Further, your registration charges will amount to Rs. 12,500 i.e., 0.5% of Rs. 25,00,000.
Thus, you will have to pay a total of Rs. 1,12,500 as stamp duty and registration charges.
Now, manual calculations can be confusing and leave room for errors. Thus, you can use a stamp duty and registration charges calculator in Hyderabad for quick and convenient calculations.
You can easily pay stamp duty and apartment registration charges in Hyderabad online through the official website of the Telangana Government’s Registration and Stamps Department. Follow the steps below:
Step 1: Visit the online portal of the Registration and Stamps Department
Step 2: Create your user profile and upload the necessary documents
Step 3: Complete the payment for stamp duty and apartment registration charges in Hyderabad through your preferred online payment method
Step 4: Book an appointment with the sub-registrar’s office
Step 5: Go to the SRO and verify the documents for slip preparation
Step 6: Submit e-KYC
Upon that, an officer will verify your documents and details and print the registered document’s endorsement.
Here are the documents you will require to submit at the SRO for successful completion of property registration:
Note that these documents are indicative. The sub-registrar might ask for additional documents if required.
Property registration charges and stamp duty in Hyderabad are the two crucial things a property buyer must know before purchasing a property in the city. In addition, since the Telangana Government has recently revamped the charges for property registration, real estate prices have jumped substantially. Thus, it is imperative to plan your finances before making a buying decision.
In case you’re looking for a home loan to buy a property in Hyderabad, you can try the Navi app. With Navi, you can get home loans up to Rs.10 crore at low-interest rates starting from 6.71% p.a.
Ans: Yes, you can pay stamp duty and registration charges for your property in Hyderabad offline. For that, you will have to visit the sub-registrar’s office and pay the required charges in the form of a challan.
Ans: Yes, you can claim a tax deduction for your payment towards stamp duty and registration charges in Telangana under Section 80C of the Income Tax Act. However, note that the maximum deduction you can claim under this section is Rs. 1,50,000.
Ans: Payment of stamp duty is an obligatory one-time charge under Section 3 of the Indian Stamp Duty Act. Your failure to pay this fee can attract a penalty of 2% on the outstanding amount every month.
Ans: Several factors influence the stamp duty and registration charges in a city, such as the property’s age, the type of property and the property’s location. In addition, various amenities in property also play a major in deciding its stamp value.
Ans: You can visit your preferred portal and open the online stamp duty calculator. Upon that, choose your state as Telangana, and the calculator will display the required results in seconds. However, note that you also need to pay the registration charges in addition to the stamp duty.
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