Stamp duty and registration fees are two additional fees that Pune buyers must bear when purchasing real estate. These fees, which are paid to the government at the time of registration, are mandatory under the provisions of the Registration Act 1908. increased availability down payment rates in Maharashtra; Cost of buying little. Step 2 – Choose the type of property applicable from all types of property listed (e.g.B. the property is an apartment or land, a house or building, or a business or business entity) Step 1 – Check the built area of the property, its other features such as soil, amenities, age and land. Built surface is considered the highest 1.2 times the carpet surface of the apartment and the surface actually built, if the same is mentioned in the real estate documents Click here to use the Mint ePaperMint is now on Telegram mum. Join the mint chain in your telegram and stay up to date with the latest economic news. Just follow the following steps to calculate the value at which stamp duty must be paid when purchasing real estate in the Pune parts participating in a real estate transaction to visit the biometric identification registrar. Analysts added that the measure will also help the government generate revenue, as records are expected to increase. For this major reason, the Government of Maharashtra announced in August 2020 a temporary reduction of 2% in stamp taxes on real estate purchases, to 3%. This is expected to generate savings for buyers at a time when housing demand has been slowed by the coronavirus pandemic. “It was decided to reduce the stamp duty on the transfer obligation by 3% between September 1, 2020 and December 31, 2020 and by 2% for the period from January 1, 2021 to March 31, 2021,” he said in a government statement.
Stamp duty of 3% and registration fee 1% OR Rs. 30,000/- depending on the lower level (2% stamp duty and 1% LBT is exempt until 31 December 2020). Given that economic growth is expected in the short term, this will provide some respite for homebuyers. Unlike other countries where stamp duty is lower for women, the rates are the same for men and women in Maharashtra. As a result, buyers, regardless of gender, pay a standard fee for the registration of real estate. Alternatively, buyers can also pay stamp duty in Pune by purchasing non-judicial stamp papers from an approved seller or by making a franc, if authorized banks stamp your document or place a unit value on it that proves that stamp duty has been paid for the transaction.