Property Registration Charges in Ghaziabad 2020-21

Stamp Duty & Registration Charges Ghaziabad 2020-21

Generally, stamp duty fees and property registration fees differ from one state to another. These charges are levied at the time of registration of a property. Paying such a fee proves the ownership of a homebuyer’s property. Therefore, it is necessary to pay stamp duty and register your property

After buying the property of your choice, it is necessary to register it. The process of buying a house is incomplete until you get it registered with the concerned municipal authority. Property registered in the owner’s name is protected from any future dispute or fraud. A homebuyer can easily register the property with the state government by paying stamp duty charges.

Stamp Duty Charges in Ghaziabad

If you are planning to buy a residential property soon, then you should be aware of the additional expenses that you need to take out of your pocket. To register a property in Ghaziabad, apart from other charges, the owners have to pay the stamp duty and registration fee to the state registration and stamp department which is administered by the State government under the Indian Stamp Act. These charges are based on the value of the registered property or the ready reckoner rate, whichever is higher.

Registration Charges in Ghaziabad

Once you pay the stamp duty, the next step is to get the property registered under the Indian Registration Act. Registration fees vary from state to state. In Ghaziabad, the property registration fee is estimated at 1% of the market value or sale price of the property whichever is higher.

Previously, the registry fee was Rs 10,000 for properties up to Rs 10 lakh and Rs 20,000 for properties above Rs 10 lakh. New Rates – A flat 1% on the property value came into effect on 14 February 2020.

This means that if the value of the flat is Rs 50 lakh, then the owner will have to pay Rs 50,000 against Rs 20,000. And if the stamp duty is added to the 7% which will be Rs 3.5 lakh, then the owner will have to pay around Rs 4 lakh extra for that Rs 50 lakh flat.

The move will also affect housing schemes by other agencies such as the Ghaziabad Development Authority (GDA) and UP Housing Board.

Stamp Duty for Women

To promote ownership of property among women, many states charge a low stamp fee when a house is registered in the name of a woman. Low rates are also offered, if the house is jointly registered, with women as the primary co-owners.

Purpose of Property Registration

Transfer of immovable property can be effected only through registration. Registration of a document of an immovable property provides the following benefits:

• Deed registration will be a permanent public record once registered with the concerned sub-registrar.
• Property listings are providing information to the general public that the owner has been transferred from the owner to the buyer.
• A public record of the transfer of property may be inspected by anyone and a copy of the document which may be obtained from the Sub-registrar Office.
• If a person intends to buy the property, they can verify the property record available at the sub-registrar office. Such a person can check in whose name the last transfer deed has been registered.
• If the land is agricultural, you can check the revenue records in the form of Khata/Khasra, and title deed of that land.

Documents Required for Payment of Stamp duty and Property Registration Fees

• Sale Deed
• Power of attorney, if any
• Latest bank statements
• Sale agreement
• Sanctioned building plan
• Tax paid receipts of the last three months
• A copy of all registered previous agreements (in case of resale property)
• Encumbrance Certificate
• Electricity bill
• Occupancy / Possession certificate from the builder

How to Calculate Stamp Duty Charges?

Stamp duty is calculated between the ready reckoner rate and the agreement value of the property. For example, if the agreement value of a property is Rs 50 lakhs and the value is Rs 40 lakhs as per the prepared ready reckoner rate, then the stamp duty will be computed at a higher value, ie, Rs 50 lakhs.

Factors Determining Stamp Duty Charges

• Status of the property – whether it is new or old.
• Location of the property – such as urban area, rural area, metropolitan area, suburban, etc.
• Type of property – flat or an independent house, etc.
• Gender of the owner – some states also offer concessions for the female property holders.
• Age of the owner – rebates may be available for senior citizens or women property holders in some states.
• Usage of property – whether it is for commercial or residential use.

Stamp Duty Calculator

If you want to calculate the stamp duty charge, you will be asked to pay, consider using one of the available online stamp duty calculators. In a few seconds, you will be able to guess the amount needed to register your property. All you have to do is:

• Enter basic information about your property such as the state detecting the property and hit the “Calculate” button to get your answer.
• If you want to know the registration fee then you can use an online property registration fee calculator.
• Add cess and surcharge to get the total assets that you will need to register your property.
• If you are unable to use the online calculator, go to the nearby property registrar office to find it.