What Are The Stamp Duty & Property Registration Charges In Pune

By Author: Anusha Rana
Total Articles: 75
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Introduction
Current Financial Year Stamp Duty For Pune
According to the following breakdown, the current stamp duty in Pune 2021–22 S is 6% of the property's market value:

● It costs 4% in stamp duty for the house.
● One percent of local body tax (LBT)
● 1% of the transport surcharge
Methods of Paying Stamp Duties in Pune
You can pay offline and online for stamp duty and registration charges in Pune. The steps are as follows:

Online Process
Go to the GRAS portal first.
From the scroll-down list, choose "Citizen" and "Make Payment to Register Your Document." Select "Pay Registration Fee and Stamp Duty Together."
Enter the necessary data, such as the district and registrar's office.
Select the bank and captcha options for your payment.
If you decide to pay using multiple banks, you should send your stamp duty payment in cash or by check to the authorities. A challan will be given to you after the transaction is complete. The Government Reference Number should always be on hand. Additionally, you will receive details like the ...
... bank's PRN, CIN, and Branch code.

Offline Method
Additional methods of payment for registration fees and stamp duty include

● Franking.
● Postage stamps
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How can we calculate stamp duty for different types of Properties
If the consideration value of the property is higher, stamp duty is assessed on the highest of the ready reckoner rate, market value, circle rate, or consideration value. The sum of any purchase or sale two parties have agreed upon is known as the "consideration value."

For instance, if the circular rate is Rs 50 lakh and the agreement value of your apartment is Rs 60 lakh, the stamp duty would be calculated on the greater amount, i.e., Rs 60 lakh.
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Any Tax Benefits on Stamp Duty from the Government
If you have built or purchased a property, you should learn more about the stamp duty exemption rules. Stamp duty, registration fees, and other expenses directly connected to the transfer may be written off under Section 80C. A maximum deduction of Rs. 1,50,000 is permitted under this section.

Until the property has been registered in the buyer's name, the buyer lacks legal jurisdiction over it. It is essential for a user to register their property with the state government and to pay the associated stamp duty to protect themselves from future fraud of any form. Owners who don't pay their share of the stamp duty will have to pay the penalty later if they don't, too. To maintain possession of the property, the full process is completed. This makes the payment of stamp duty, and registration fees for a property, when stamp duty is paid for the registration of your documents and registration fees are the same as the processing cost necessary.
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How can I Pay Stamp Duty In Pune Online?
Step 1: Open eChallan by going to https://gras.mahakosh.gov.in/. (Maharashtra Stamp Duty Online Payment Portal).

If you want, proceed to Step 2 and register on the portal. (recommended)

Step 3: On the new screen, select the type of transaction you wish to complete after clicking "Pay without Registration" if you decide to pay without registering.

Step 4: Select whether to pay just the stamp duty, registration fees, or both the registration costs and the stamp duty under the heading "Pay to register your document."

Step 5: Enter the correct information in this section, including the district, the sub-registrar office, the party information, the property information, and the property valuation information.

Step 6: All needed is to choose the preferred payment method and produce the challan.
Thank you

Anusha Rana is a real estate consultant at HonestBroker. Her work mainly focuses on giving the right advice to the buyer and Seller's and how she can improve the growth of real estate in current situation.