Stamp duty and registration charges are essential charges for any residential property transaction, without which the transaction is not legally sacrosanct. These can be 5-6 per cent of the price of the property and vary according to the city and the municipalities
Stamp Duty is a type of tax or duty which is paid for transactions performed within the state by way of documents, where such documents are liable to be stamped as per the provisions of the State Stamp Act and Indian Stamp Act, 1899.
Saleable Area: 1000 sq ft
Cost of the property: Rs 5000 per sq ft
Total Cost : Rs 50,00,000
Stamp duty : 7% of the property = Rs 3,50,000
Registration charge: 1.1%= Rs55000
Total Cost of the property= Rs(50,00,000+3,50,00+55000)=Rs 54,05,000
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If sell is within 25 lakh 6% percent stamp duty 1% percent registration charges.
If it is more than 25 lakh 7%t stamp duty B) 1.1% registration charges
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Hi, Check out the official website to know more about registration and stamp duty: http://wbregistration.gov.in/(S(h4rmyctqqktcqdms3hi1yooh))/Stamp_duty.aspx