In Kolkata, stamp duty rate depends on the market value of the property as well as the area the property is situated in. The Finance (Revenue) Department, West Bengal provides the following information:
Location of property Above Rs 25 lakh Less than Rs 25 lakh
1. Corporation (Kolkata/Howrah) area 7 % 6 %
2.Municipal corporation/Municipality/Notified 7 % 6%
3.Areas not included in the above 6 % 5 %
Buying a property does not just involve paying the value of the property. There are other costs which must be paid to the government too to register their property and safeguard their investment in case of disputes or frauds.
Is there concession for the mortgage deeds executed by State Government Employees to obtain loans for house building/repair advance? If so what is the extent of concession?
Hi everybody, The stamp duty and registration charges have been revised in March 2014. In West Bengal the Registration charges is 6% within Municipal boundary and 5% outside Municipal Boundary and the Registration Charges is 1.10% for both.
If you are looking to buy a property in Kolkata, it is compulsory to register the property under the Registration Act, 1908. Payment of stamp duty and registration charges is an inherent part of the procedure.