Taxes for property registration in Coimbatore

Q: What taxes should I pay for registering a property in Coimbatore in my name?

Rajeev Srinivasan, Coimbatore

28th April 2014

Property Tax in Coimbatore

coimbatore service tax

vat charges

property registration charges in coimbatore

stamp duty in coimbatore

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Coimbatore Property Tax Property Tax in Coimbatore

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The taxes you have to pay for registering your property with the corporation are –
Stamp Duty – 7% for the sale deed and extra 1% for construction agreement
Registration Fee – 1% for registration of documents pertaining to your undivided share of land and extra 1% for registration of construction agreement
Value Added Tax or VAT – 1% of total construction cost or you can pay an estimated percentage of individual item.
Service Tax – 4.12% of total construction cost.

Naduveetil Rajgopal, Coimbatore

19th May 2014

Comment

You will have to pay the VAT and the Service tax. The service tax rates in Coimbatore will be around 12.36% of 33.33% i.e. 4.12% of the total construction cost. VAT can be paid as 1% of total construction cost or calculated individually for different materials and instruments.
Also payable are the stamp duty and the registration fee. The stamp duty and registration fee in Tamil Nadu amount to about 7% and 1% of the market value of the property for registration of undivided land share and an extra 2% for the registration of construction agreement.

Kishore Kumar, Coimbatore

30th April 2014

Comment

Hi Rajeev. Earlier, as a property buyer in Coimbatore, you would have had to pay 5% stamp duty, 2% surcharges and 1% registration fees. But since 1st October 2013, Tamil Nadu government has introduced stamp duty and registration fee on the construction agreement as well for which you will have to pay an extra 2% of the construction amount. This is only for the property transaction deeds signed after 30th September, 2013.

Other than the stamp duty and registration fees, you have to pay the VAT and the service tax as well.

Sandeep Krishna, Coimbatore

28th April 2014

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