What is Stamp duty and how does it vary?

Stamp duty is a state tax levied by the State Government whenever the transaction of the property takes place. The transaction may include Sale Deed, Power of attorney, Conveyance Deed etc.
Once Stamp duty is paid, the document undergoes the process of registration with at the Sub-Registrar of Assurances where again a fee is paid and the legal ownership is entitled to the new owner of the property.

1. Stamp Duty Varies from 3percent-10percent depending on the slab decided by the particular state.
2. Status, location, usage & type of the property and age and gender of the owner are key factors for stamp duty calculation.
3. Stamp Duties in Major cities are
4. Mumbai 2 per cent till December 31, 2020 and 3percent From January 2021 till March 31, 2021,
5. Pune 3 per cent till December 31, 2020 and 4percent From January 2021 till March 31, 2021,
6. Hyderabad 7.5percent
7. Chennai 7percent
8. Bengaluru 5percent
9. Delhi 6percent
10. Ahmedabad 4.9percent