MagicBricks.com is India's No 1 Property portal and has been adjudged as the most preferred property site in India, by independent surveys. The fee for property registration is payable over and above the stamp duty. Editor | What type of property are you planning to buy in 2021? October had been a good month for the department with earnings clocked at Rs 1,096 crores. This fee is usually calculated at 1% of the agreement value or the market value, whichever is lower. The stamps and registration department in Ghaziabad is believed to have written to the Uttar Pradesh government recommending that circle rates be raised in the current financial year. LUCKNOW: The Uttar Pradesh government on Thursday notified the new stamp duty rates on registration fee for property and other transactions under which the maximum cap of Rs 20,000 on transactions has been done away with. Levy of Stamp Duty and Registration Fee on Some Important Documents at a Glance. All trademarks, logos and names are properties of their respective owners. The department, thus, loses out on revenue. It neither warrants nor is it making any representations with respect to offer(s) made on the site. Hence, total cost of the property = Rs 50,00,000 + Rs 3,00,000 + Rs 50,000 = Rs 53,50,000 Also Read: Stamp duty and registration charges in Ghaziabad These charges are levied at the time of registration of a property.Paying such a fee proves the ownership of a homebuyer’s property. The agreements for leave and licence are required to be stamped and registered. Registration fee = 50,00,000 * 1/100 = Rs 50,000. The cut in VAT and duty would lead to a total revenue loss of ₹191 crore. Bond. Welcome to Ready Reckoner - Ghaziabad a website covers real estate information like stamp duty, property registration, e-stamping,stamp duty on residential property, stamp duty on commercial property, vastu shastra for flats and offices, home loans,valuation and other legalities related to real estate across Ghaziabad. Under Section 80C of the income tax law, a home buyer can claim rebate on his home loan principal payment along with the money paid towards stamp duty and registration charges. The registration document proves that the property is indeed yours. Paying such a fee proves the ownership of a homebuyer’s property. Amount in Rupees: 1: Adoption Deed: 3: Rs.500/-V: Rs.200/-2: Affidavit: 4: Rs.20/---3: Stamp duty and registration charges to increase in Kerala following Budget 2020 . 200 As applicable : 10-11-2020 Stamp duty and registration charges to increase in Kerala following Budget 2020 . The rates under the commercial head in the township vary between Rs 1,26,000/sqm and Rs 1,38,000/sqm. Get Ghaziabad property rates on residential (outright and lease) and commercial (outright and lease) * We are updating property rates in Ghaziabad For an earlier answer email us your query on info@stampdutyregistration.com! Stamp Duty and Registration Charges Deduction Conditions. In the 2018-19 financial year, the UP government had set a target of collecting Rs 1,626 crore as stamp duty, but could manage only Rs 1,442 crore. Circle rates are the minimum rates which forms the basis of stamp duty and registration charges and below which a property cannot be registered. Amount in Rupees: Regn Fee Article No. Basically, the stamp duty is levied to validate your registration agreement. You can get tax exemption on Stamp Duty and Registration Charges up to Rs.1.5 lakhs. Another possible reason is that properties abandoned by homebuyers, tired of their struggle to get possession of flats, are often sold to second parties without informing the registry department. On October 29, 2020, the registration department witnessed an all-time high registration of 20,307 documents with 575 sub-registrar offices. Stamp Duty and Registration Fee Detail Common Fee for all the Documents Surcharge on Stamp Duty: 10+10+10 = 30% CSI Charges (If property Value is not exceed Rs. The portal provides a platform for property buyers and sellers to locate properties of interest and source information on the real estate space in a transparent and unambiguous manner. Any amount paid over and above this limit is not eligible for the deduction. The stamp duty on sale deed has been reduced from 8% to 4% and the registration fee from 2% to 1%. The cut in VAT and duty would lead to a total revenue loss of ₹191 crore. Legal Cost These charges are levied at the time of registration of a property. As such, these charges can run into lakhs of rupees. Circle rate may vary based on the locality / property type, etc. The department has likely written the same to the Uttar Pradesh government and has suggested an increase in these rates as … Members pls guide us how much is the final overall charges for flat. ₹191 crore pls guide us how much is the final overall charges for registering flat in Noida crore. Duty rates of specific instruments 2020, the limit stands at Rs lakhs... Central government fixes the stamp duty charged unchanged in Ghaziabad since 2014 by independent.... Fees and property registration fees differ from state to another, 2019 @ 02:32.... Increase in Kerala following Budget 2020 7 percent and the registration fee on Important Deeds Descri of! Payment is made only in the real estate sector this is why of! 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