Property Stamp Duty and Registration Charges in Kolkata
Property sale and buying always comes with additional taxes and charges, which are payable by the property buyer. Some of the charges include registration charges, stamp duties, service charges and value added taxes (VAT). Out of these charges, the standard charges anywhere in the country are registration charges and stamp duty.
Charges in Kolkata
Registration charges and stamp duty vary across different states. Usually, the same charges apply to all the cities across the state. As such, in Kolkata, the following are the standard charges applicable.
a) Registration charges
In Kolkata, registration charge is 1.1 per cent of the total property value if the property value.
b) Stamp duty
The stamp duty varies whether the property is within municipal boundary or outside it. The stamp duty is 6 per cent if the property is within the municipal boundary. If the property is outside the municipal boundary, the stamp duty is 5 per cent.
What are Stamp Duty and Registration charges?
Registration charges
A registration charge is paid by the property buyer at the time of registering a property. Registration charge is charged as per the value of the property. It is levied under the provisions of the Registration Act, 1908.
Stamp duty
Stamp duty is a tax/duty to be paid to the state government for property transactions within the state. It is to be paid for the documents, where these documents will be stamped as per provisions of the Indian Stamp Act, 1899 and the State Stamp Act. The stamp duty takes into account various factors such as ready reckoner rates (RR rates) and the agreement value of the property.
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