Stamp Duty and Property Registration Charges in Pune
Stamp duty and registration charges need to be paid to the state government to register your property under the Registration Act, of 1908. This is compulsory to safeguard your property from fraudulent activities or disputes. Lands, apartments and houses are subject to property taxes and have to go through the registration process. So, while buying a property, you should consider including registration charges and stamp duty fees in the cost of property.
This blog gives you all the information about PCMC stamp duty registration fees in Pune, the rates, calculations and the online payment process so, Read on!
Stamp Duty Rates in Pune
Stamp duty in Pune is a percentage of a plot’s value paid to the government as per the Maharashtra Stamp Act, 1958. It is a mandatory fee and is collected under the Registration Act. The Government of Maharashtra levies and revises stamp duty rates recurrently.
To boost the real estate business, the State Government had reduced the rate to 2% from 5% within a short period (September 1 2020 to December 31 2020). Furthermore, the rate was revised to 3% on residential assets from April 1 2021.
Current Stamp Duty and Registration Charges in Pune
If you want to know about the latest stamp duty and registration charges for flat in Pune, this table will help you get all details:
| Owner Type | Stamp Duty Rates | Registration Charges |
| Male | 6% — 5% stamp duty +1% LBT (local body tax) | Property worth above Rs. 30 lakh — Rs. 30,000Property below Rs. 30 lakh — 1% of property’s worth |
| Female | 5% — 4% stamp duty + 1% LBT | Property worth above Rs. 30 lakh — Rs. 30,000Property below Rs. 30 lakh — 1% of property’s worth |
| Female and male (joint) | 6% — 5% stamp duty +1% LBT | Property worth above Rs. 30 lakh — Rs. 30,000Property below Rs. 30 lakh — 1% of property’s worth |
| Both female (joint) | 5% — 4% stamp duty + 1% LBT | Property worth above Rs. 30 lakh — Rs. 30,000Property below Rs. 30 lakh — 1% of property’s worth |
| Both male (joint) | 6% — 5% stamp duty + 1% LBT | Property worth above Rs. 30 lakh — Rs. 30,000Property below Rs. 30 lakh — 1% of property’s worth |
Stamp Duty in Pune Depending on the Type of Area
Among the variable factors for stamp duty, a property’s location is also a deciding element. Therefore, how the stamp duty rate in Pune varies in accordance with locality is discussed below:
| Locality/Type of Area | Stamp Duty % |
| Within the limitation of Gram Panchayat | 4% |
| Within boundaries of Panchayat/Municipal Corporation/Rural area under MMRDA (Mumbai Metropolitan Region Development Authority) | 5% |
| Within boundaries of the Municipal Corporation or Cantonment area | 5% |
Stamp Duty on Types of Property Deeds in Pune
The type of property deed is also a deciding factor for stamp duty rates in Pune:
| Type of Deed | Stamp Duty % |
| Power of attorney (PoA) | Municipal areas- 5%Gram Panchayat- 3% |
| Gift deed | 3% |
| Gift deed given to family members, residential or agricultural property | Rs. 200 |
| Lease deed | 5% |
How to Calculate Registration Charges and Stamp Duty in Pune
The calculation for stamp duty and registration charges differs from state to state. The Government of India determines the tax rate and any delay in payment will lead to a 2% penalty every month on the outstanding amount. Along with the discussed factors, the circle rate also plays an integral part in the calculation.
The following illustration will help you understand the process more easily.
Suppose Anita buys a flat in Pune of 700 square meters. The circle rate of the property is Rs. 65,000 according to its locality.
Considering the given data, the value of the property will be —
Carpet area x Circle rate = 700 x Rs. 65,000 = Rs. 4,55,00,000.
Given the rate of stamp duty is 5%, Anita will have to pay Rs. 4,55,00,000 X 5% = Rs. 22,75,000 as the stamp duty fee. The total worth of the property is more than 30 lakh. Thus, the registration fee will be Rs. 30,000.
How to Use a Stamp Duty Calculator
The manual calculation can be time-consuming. Therefore, there is an option for you to use a stamp duty calculator for Pune. Here is how to use the calculator and save your time.
Step 1: Visit the official IGR Maharashtra website and open the stamp duty calculation page.
Step 2: Select the type of deed you own, i.e., gift deed, lease deed, and PoA.
Step 3: Choose your local authority, municipal corporation or cantonment. If you choose a municipal corporation, you have to choose the area or locality under the corporation (other than Mumbai and Nagpur).
Step 4: Enter ‘Market Value’ and ‘Consideration Amount’ to get stamp duty estimates in your region.
Also Read
How to Register and Pay Stamp Duty in Pune Online
Paying stamp duty in Pune online is easy. All you need to do is register yourself and proceed to the payment process. Here’s how to register on the stamp duty payment portal:
Follow these steps to register and pay stamp duty in Pune online:
- Visit Government Receipt Accounting System
Click on https://gras.mahakosh.gov.in/echallan/ to visit the official website.
- Complete User Registration
Select ‘New User Registration’. Enter your name, address and other details.
- Enter Username and Create a Password
Enter a Username and create a password that contains one capital letter, one number and one special character.
- Click on Save
Save to create your account.
- Login with Username and Password
Login with your username and password. Click on the payment option and use any payment method (debit card, net banking, etc.) to complete the payment. A receipt will be generated. You can now proceed with property registration process.
How to Pay Stamp Duty in Pune Offline
To pay stamp duty in Pune offline, you can use either of these two procedures:
- Stamp paper
- Franking
Documents Required to Pay Stamp Duty in Pune
To ensure a smooth registration process of the documents, the following documents are required.
- Identity proof documents such as Pan Card, Passport, Driving License, etc. (of the seller as well as the purchaser)
- The original deed document, along with two photocopies are submitted to the Sub-Registrar of Assurances.
- The proof of payment (challan) of the Stamp Duty.
- Payment details of the transaction
- The Khata certificate and receipt of taxes paid
Penalty for Delay in Stamp Duty Payment
Section 23 of the Registration Act 1908 requires the submission of property transaction documents within four months from the deed’s execution date. Failure to do so may result in a penalty of up to 10% of the registration charge
Points to Remember Before Paying Stamp Duty in Pune
You have to carefully consider these pointers before paying stamp duty in Pune:
- The date of the stamp paper should not surpass 6 months from the date of the transaction.
- The names of the individuals involved in the agreement should be on the stamp paper.
- You can use adhesive stamps to pay the stamp duty charges.
- Properties ready to get stamped should be done in the next working day from the date of registration and execution. If the execution of the property deed is outside the territory, a maximum of 3 months can be taken.
Factors Affecting Stamp Duty in Pune
Government of Maharashtra imposes stamp duty charges on real estate properties like houses, lands, leasehold and freehold units, etc. The different parameters affecting stamp duty are as follows:
- Gender of the owner
- Ready reckoner rate or circle rate
- Location of a property
- The market value of a property
Tax Benefits on Stamp Duty and Registration Charges
The registration and stamp duty charges in Pune are eligible for a tax deduction as per Section 80C of the IT Act, 1961. However, only individuals and Hindu Undivided Families can get tax deduction facilities.
One must meet these conditions to avail of the facilities:
- You can claim a tax deduction for the same year you pay the expenses.
- If there is co-ownership of property, tax deduction depends on co-owners share in the property.
Final Word
Stamp duty and registration charges in Pune are an essential part of property transactions. Buyers and sellers need to be aware of the applicable rates and ensure that the necessary documents are submitted within the stipulated time frame to avoid any penalties. It is advisable to consult with legal experts or property consultants to ensure a smooth and hassle-free registration process.
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FAQs
To get stamp duty refund in Maharashtra, visit the IGR Maharashtra portal and fill in the required information. A refund token is allotted after completion. After that, you will have to submit an application offline in a sub-registrar’s office.
Yes, it is mandatory for the parties involved to visit the sub-registrar’s office for biometric identification.
A circle rate or ready reckoner rate is the minimum valuation of a property registered when the transfer of ownership takes place. It is also used to decide the market value of a property.
Stamp duty and GST are two different taxes, but both are indirect taxes. Therefore, GST is not included in the stamp duty fee.
You can pay stamp duty either on the market value or the consideration amount, whichever is higher.
Stamp duty for resale is 7 percent for males and 6 percent for female property buyers.
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Disclaimer: This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
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