What Are The Stamp Duty And Registration Charges In Thane?
In India, every State government levies a stamp duty on property transfers. The location, type of property, and ownership title are factors that determine the stamp duty fees. If you own a property in this suburb of Mumbai called Thane, it is mandatory to pay the stamp duty and registration fees in Thane under the Maharashtra Stamp Act of 1958. Only by paying the necessary stamp duty in Thane and the respective registration fees, the property buyer may register the sales deed document at the sub-registrar office.
Read on to know about Thane’s stamp duty and registration fees, including how to calculate them.
What are the Stamp Duty and Registration Rates in Thane?
Maharashtra levies a stamp duty of 6% of the total property value on residential properties. This includes 1% local body tax and 5% stamp duty. In Maharashtra, however, female buyers receive some exemptions from the stamp duty that must be paid, paying only 5% in stamp duty fees. This includes 1% local body tax and 4% stamp duty. When a male and a female jointly own a residence, stamp duty must be paid at 6% of the home’s total worth. However, women-owned residential properties are only required to pay 5% of the property value in stamp duty fees.
One may want to revisit this data on the Maharashtra Government Portal regularly as the rates are liable to revision by the government. Any change is well-publicised through media as it happened post-Covid when the Government of Maharashtra decided to reduce stamp and registration fees to boost home sales.
a. Conveyance Deed, Sale Deed, Agreement for sale
A Conveyance Deed is a legal document that conveys some rights over an immovable property from 1 person to another. Stamp Duty is charged according to Article 25 of Schedule I of The Bombay Stamp Act, 1958. The registration fee is 1% of Market Value (MV) or Rs. 30,000, whichever is lower.
b. Stamp Duty on purchase from the investor
According to Schedule I – Article 5(g-a) (ii) of the 1958 Bombay Stamp Act, “If a person purchases one or more units in a project or scheme from a developer who then sells the units, the duty chargeable on each unit under this clause will be adjusted from the duty chargeable under article 25 (conveyance) after keeping a balance of Rs. 100, provided that the transfer or assignment is made within a year of the agreement’s date.
The minimal duty for the conveyance shall be Rs. 100 if no duty is required to be paid upon adjustment. For this clause, the unit should include a flat, an apartment, tenement, block or any other unit by whichever name it goes, as approved by the Competent Authority in the building plan.”
c. Gift Deed
In accordance with Articles 25 and 34 of Schedule I of The Bombay Stamp Act of 1958, with effect from 01-05-2002, the amount of stamp duty should be computed at 2% of market value or as per Article 25, whichever is less, if any immovable property is gifted to a family member who is the donor’s spouse, brother, or sister, or to any lineal ascendant or descendant of the donor. In other circumstances, stamp duty is the same as applicable to conveyance deeds, as governed by Article 25. The registration fees are the same at 1% of Market Value (MV) or Rs. 30,000 whichever is lower. Also, registration is mandatory.
d. Lease Deed
According to Articles 25 and 36 of Schedule I of The Bombay Stamp Act, 1958.
- If the lease is for up to five years, the same duty is imposed as per conveyance under article 25, which is 10% of the property’s market value.
- The stamp duty is calculated according to the conveyance under article 25 on 25% of the property’s market value if the lease lasts more than five years but not longer than ten years, with or without a renewal clause.
- With a renewal clause or not, a lease with a term longer than ten years but not longer than twenty-nine years is subject to the same stamp duty as per conveyance under article 25 at 50% of the property’s market value.
- The stamp duty as per conveyance is applied to 90% of the property’s market value under article 25 if the lease is for a term more than twenty-nine years, in perpetuity, does not purport to be for a specific duration, or is for a term longer than twenty-nine years with a renewal clause that is dependent or otherwise. For example, if stamp duty is 1% and MV of the property is Rs 1 crore, then the 1% stamp duty is applicable on 90% of property value, that is Rs 90 lacs. Hence stamp duty payable is Rs. 90,000.
– For market value purposes, any consideration in the form of a premium, money advanced or to be advanced, or a security deposit by any name called must be treated as consideration passed on.
– The mentioned renewal time will be considered a part of the current lease.
The registration fees remain 1% of the value assessed for stamp duty of Rs. 30,000, whichever is lower.
e. Release Deed
According to Schedule 1’s Article 52 of The Bombay Stamp Act of 1958.
- Rs. 200 in the event that legal successors of ancestral property renounce the property.
- In any other case, as per conveyance
Registration fees is 1% of the property’s market value at the time of release, or Rs. 30,000 whichever is lower.
f. Power of Attorney
In accordance with Articles 25 and 5(g-a) and Article 48 of Schedule I of The Bombay Stamp Act of 1958,
- A general or specific power of attorney is granted to carry out or authorise a single or several transactions without consideration or money received, the stamp duty is Rs. 100 for each authorised individual.
- A power of attorney is given for consideration or money received to carry out or authorise the sale of immovable property. According to Article 25, stamp duty is the same as on conveyance deeds.
- A power of attorney is granted without consideration or money received to carry out or authorise the sale of immovable property to a person other than a close relative. According to Article 25, stamp duty is the same as on conveyance deeds.
- Power of attorney granted without consideration or money received to carry out or authorise the sale of immovable property to a close relative – Stamp Duty applicable is Rs. 500.
- Power of attorney granted to developer or promoter for construction, development, transfer or sale of any immovable property – Stamp Duty is applicable same as on the Conveyance deed in accordance with Article 25.
Registration fees in Thane are as follows:
- Attestation of the general or specific power of attorney will be charged a fee of Rs. 25.
- General or specific power of attorney registration costs Rs. 100.
- Other Powers of Attorney fees are 1% of the property’s market value of Rs. 30,000, whichever is lower.
What are the Stamp Duty and Registration Charges in Thane?
Refer to the table given below to get an idea of the present stamp duty and registration charges in Thane:
| Gender | Stamp Duty + Local Body Tax (LBT) | Registration charges |
| Male | 6% (5% + 1%) | For properties more than 30 lakhs – Rs 30,000.For properties less than 30 lakhs – 1% of the property value. |
| Female | 5% (4% + 1%) | For properties more than 30 lakhs – Rs 30,000.For properties less than 30 lakhs – 1% of the property value. |
| Joint (Male + Female) | 6% (5% + 1%) | For properties more than 30 lakhs – Rs 30,000.For properties less than 30 lakhs – 1% of the property value. |
| Joint (Male + Male) | 6% (5% + 1%) | For properties more than Rs 30 lakhs – Rs 30,000.For properties less than 30 lakhs – 1% of the property value. |
| Joint (Female + Female) | 5% (4% + 1%) | For properties more than 30 lakhs – Rs 30,000.For properties less than 30 lakhs – 1% of the property value. |
Also Read: What Is Home Loan Stamp Duty And Why Is It Important For Property Buyers
How to Calculate Registration and Stamp Duty Charges in Thane?
To calculate stamp duty due, one needs to know which duty bracket they fall under. This is ascertained via the circle rate or the property’s value, whichever is higher.
The Department of Registrations and Stamps has fixed/ascertained a price/unit area of the property which is known as the Ready Reckoner Rate in Maharashtra, including Thane. Now, stamp duty is computed based on the market value if, in case, it is higher than the circle rate or vice-versa.
There are also stamp duty calculators for Thane available online, which can be used easily and thus save on time and effort involved in making calculations manually.
Let’s understand this with an example:
| Reckoner Rate | Rs.7,000 per square metre |
| Flat Size | 1,000 sq m |
| Total Value | Rs.70,00,000 |
| Stamp Duty (male + male) | 5% of Rs.70,00,000 = Rs.3,50,000 |
| Local Body Tax | 1% of Rs.70,00,000 = Rs.70,000 |
The total stamp duty charge would be Rs.3,50,000 + Rs.70,000 = Rs.4,20,000
How to Pay Stamp Duty and Registration Fees in Thane?
You can pay stamp duty and property registration charges in Thane both online and offline.
Online
Step 1: Visit the official portal of Maharashtra Stamp Duty
Step 2: Click on ‘Pay without Registration’
Step 3: Enter all the relevant and required information correctly and select the preferred mode of payment gateway.
Step 4: Submit the form and print the challan. The challan receipt needs to be shown as a proof of payment.
Offline Procedure
By visiting the Stamp Duty and Registration Department physically too, one can easily pay the stamp duty and registration charges in Thane. Payment can also be made by visiting any government-designated bank or post office.
How to Check the Generated Challan for Stamp Duty and Registration Charges Online in Thane
Once the payment has been made, challan can be generated online by following the given steps:
Step 1: Visit https://gras.mahakosh.gov.in/echallan/
Step 2: Click on the tab which says ‘Inspector General of Registration’
Step 3: Click on the search challan option and fill in the required information
Step 4: Click on the GRN to get a copy of the challan and click on verify to get an update on the status of registration
Why Stamp Duty and Registration Fees are Important?
To purchase a property in Thane, each buyer must pay specific stamp duty and registration fees. This duty along with the registration fees is essential for the registration of the property against your name. To protect your property from any illegal situations, fraud or dispute, property registration is necessary.
According to Section 3 of the Indian Stamp Act, payment of the stamp duty and registration fees is mandatory. Each state government further defines the clauses that govern the Stamp Duty Act for the particular state. After or during the execution of the sales deed document, you must pay the stamp duty and registration fees when purchasing a property in Thane. Only after registering the paperwork at the registrar’s office and paying the necessary stamp duty and registration fees in Thane do you acquire legal ownership of the property in Thane.
What are the Factors Affecting Stamp Duty Charges in Thane?
- Gender- The stamp duty and registration charges in Thane are lower for women with the rates being 5% for women and 6% for men.
- Property Value- Stamp Duty and registration charges in Thane are computed based on the agreement value of the property. While the Stamp Duty in Thane ranges from 5%-6% of the property value, the registration charges come up to Rs. 30,000 in cases where properties are more than 30 lakhs or 1% of the property value where properties are worth below 30 lakhs.
- Property Location- The stamp duty and registration charges in Thane differ from location to location and different duty rates stand applicable as per the jurisdiction in which the property falls. Properties which are under Municipal limits generally have higher stamp duty in comparison to Panchayat Limits.
- Ready Reckoner Rates- Ready reckoner rates as discussed earlier in the article are standard property rates published by the government for a given location. The property’s market value is computed based on ready reckoner rates.
Are Tax Benefits Available on Stamp Duty and Registration Charges?
The Income Tax Act of 1961’s Section 80C allows tax deductions for expenses related to stamp duty fees. A citizen of India can deduct from any transaction involving stamp duty fees, up to Rs. 1.5 lakh while filing the income tax return for that particular financial year. Note that the deduction can be claimed only in the year in which the payment for these expenses is made.
Stamp Duty and Registration Charges in Thane Refund
The Maharashtra government permits you to request a stamp duty refund within 6 months after the registration date, and within this time, the government may withhold up to 1% of the stamp duty, with a minimum withholding of Rs. 200 and a maximum withholding of Rs. 1000. If the deal was cancelled, you have up to two years from the registration date discussed to request a refund.
How to Register for a Property Online in Thane?
Follow the steps below to register a property in Thane:
Step 1: Visit www.gras.mahakosh.gov.in
Step 2: If you have previously registered, enter the login information. If you’re a new user, select ‘new user registration’ and save your information.
Step 3: Fill in the property’s details (such as the location, etc) and any other pertinent information as applicable.
Step 4: Select a payment gateway after entering all the necessary information. On the website, a list of all nationalised banks is available.
Step 5: Make the payment after choosing the bank. Additionally, print the payment receipt for your records.
Also Read: Stamp Duty And Registration Charges In Pune: Calculation & Online Payment Process
Final Word
To purchase property one must pay the necessary stamp duty charges and registration fees which validates your transaction from a legal standpoint and the receipts which act as evidence of ownership of property or assets in the Thane district of Maharashtra. The official government records indicate the property registration thereby safeguarding the buyer’s interest by registering the property formally.
The availability of tools like online payment and online calculators makes your job fairly simple and convenient. Conclusively, paying your stamp duty and registration fees in Thane responsibly by keeping in mind the information will help you avoid the penalties thus involved.
In case you are planning to purchase a property in Thane and are in need of a home loan, download the Navi app. With Navi Home Loan, you can get home loans up to Rs.10 crore at competitive rates starting from 7.39% p.a.
Stamp Duty Charges in Your City
FAQs
Ans: The Registration and Stamp Duty Charges in Thane are to be paid during or before executing the Sales Deed document.
Ans: One is liable to pay a penalty of 2% of the applicable stamp duty and flat registration charges in Thane upon failure to make the required payments. This penalty can go up to 200% of the main stamp duty as registration charges.
Ans: Stamp duty and registration charges in Thane can be paid either online or offline. For online registration of stamp duty and registration charges in Thane, one can visit the https://gras.mahakosh.gov.in/echallan/ website.
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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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