What will stamp duty and registration charges if buying flat from society?

Q: i want to buy resale flat from society 11 years old, what will be the procedure and stamp duty charges.

Rahul Chougule,

6th May 2017

Property Tax in Sumit Mitasu Marvel, Ponda, Goa

stamp duty in goa

registration charges in goa

property tax in goa

stamp duty & registration charges in goa

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Replies (2)

Hi,
Stamp Duty in Goa, Daman and Diu are 8% of consideration.

1) Where the amount or value of the consideration for such conveyance as set forth therein exceeds Rs. 600 but does not exceed Rs. fifty lakhs, the stamp duty shall be 3%.
2) where the amount or value of the consideration for such conveyance as set forth therein exceeds rupees fifty lakhs but does not exceed rupees seventy-five lakhs, the stamp duty shall be 3.5%.
3) where the amount or value of the consideration for such conveyance as set forth therein exceeds rupees seventy-five lakhs but does not exceed rupees one crore, the stamp duty shall be 4%.
4) Where the amount or value of the consideration for such conveyance as set forth therein exceeds rupees one crore, the stamp duty shall be 4.5%.
Registration charges is almost same in all state i.e 1% of the property cost.

Leena, Goa

9th May 2017

Comment

Thank you, is there any benefit if we buy flat from Society?

Rahul Chougule,

9th May 2017

Hi Rahul,
It is very essential to verify all documents related to a re-sale property. Check whether the seller is a legal owner of the property and all related documents are properly registered in the government records. Verify the title of resale-property, check the approved floor plan, original payment receipts and NOC from the builder. Check whether all dues such as electricity bill, water bill, property tax, etc are paid by the seller. Bank loan is sanctioned only on the approved properties.

Leena, Goa

9th May 2017

Comment

Yes, you can also check the legal documents while signing the agreement as per the checklist of a bank. Check title and ownership of the builder by checking the sale deed and land records, check whether has received Change Of Land Use Certificate from Agriculture to Residential, check whether layout is approved by the development/municipal authority, also check the land use is as per master plan or not, check whether NOC & Clearances obtained from Environment, Electricity, Water, Fire and Safety Authorities and last but not the least Allotment Letter. You should must read the terms of builder-buyer agreement and check penalty clause in the agreement.

Franklin, Goa

9th May 2017