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Stamp Duty and Property/Flat Registration Charges in Ghaziabad
If you are one such individual and considering settling in Ghaziabad by purchasing a property there, then you must be aware of certain things, including factors affecting property cost. This cost includes several charges, of which stamp duty and registration charges have great significance.
Want to know about the significance and rates of registration and stamp duty charges in Ghaziabad?
Read along!
What Are the Registration and Stamp Duty Charges in Ghaziabad?
Stamp duty is a tax that the State Government imposes during a transaction of property. It means the State Government levies stamp duty whenever a property changes hands, i.e., from a buyer to a seller. The stamp duty in Ghaziabad is 7%.
Individuals/property buyers have to pay registration charges apart from stamp duty in Ghaziabad, which constitute a percentage of the total or registered value of a property. This fee is essential to register property documents in the buyer’s name. The registration fee is 1% of the property’s market’s price.
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Present Registration and Stamp Duty Charges for Properties in Ghaziabad
Follow the table given below to get a clear idea about the stamp duty and registration charges in Ghaziabad.
|
Ownership Type |
Stamp Duty (as a percentage of property cost) |
Registration Charges (as a percentage of property cost) |
|
Men |
7% |
1% |
|
Women |
6% (Note: This is only applicable for the property with a value of less than ₹10 lakhs). For property value above ₹10 lakhs, the applicable stamp duty is 7%.) |
1% |
|
Joint owners (man + women) |
6.5% |
1% |
|
Woman + woman |
6% |
1% |
|
Man + man |
7% |
1% |
As the stamp duty and registration charges in Ghaziabad are known to individuals, let’s learn about the ways/methods of calculating these charges.
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How to Calculate Registration and Stamp Duty Charges in Ghaziabad?
Individuals/property buyers pay registration charges over and above the stamp duty amount. For all types of property, the registration charges are set at 1%. The stamp duty rates are also similar except for female buyers.
Let’s understand the calculation of different payable amounts for stamp duty and registration charges in Ghaziabad depending on the ownership type through two separate examples.
Suppose Mr Singh has bought a property of ₹ 50 lakh. The total amount he has to pay is mentioned in the table.
|
Property value |
₹ 50,00,000 |
|
Stamp duty charges |
₹ 50,00,000 * 7/100 = ₹ 3,50,000 |
|
Registration charges |
₹ 50,00,000 * 1/100 = ₹ 50,000 |
|
Total Cost |
₹ 50,00,000 + ₹ 3,50,000 + ₹ 50,000 = ₹ 54,00,000 |
On the other hand, Mrs Singh has separately purchased a property worth ₹50 lakh.
The following table comprises the total amount she has to pay.
|
Property value |
₹50,00,000 |
|
Stamp duty charges |
(₹50,00,000 * 7/100) - ₹10,000 = ₹3,40,000 |
|
Registration charges |
₹50,00,000 * 1/100 = ₹50,000 |
|
Total Cost |
₹50,00,000 + ₹3,40,000 + ₹50,000 = ₹53,90,000 |
How to Use a Stamp Duty Calculator?
Currently, there are several online calculators available for calculating stamp duty in Ghaziabad. Individuals have to follow the steps mentioned below to easily calculate stamp duty in Ghaziabad.
- Step 1 - Visit any website of your preference.
- Step 2 - Provide property-related basic information such as the State of the property (here Ghaziabad).
- Step 3 - Select ‘Gender’ and provide Property Price.
- Step 4 - Click on the ‘Calculate’ button. The results will appear on screen.
Similarly, individuals can use registration charges calculator to learn about the payable registration charges amount on a property of a certain value.
With a clear knowledge about the calculation process of registration and stamp duty charges and using an online calculator, we can focus on the payment methods.
How to Pay Registration Charges and Stamp Duty in Ghaziabad?
Individuals can pay stamp duty and registration charges in Ghaziabad via online and offline mediums. Both the procedures are discussed below,
Online Procedure
- Step 1 - Visit the official website of Stamp and Registration Department, Uttar Pradesh. The website will initially open in Hindi. Translate the page into English (if required). Click on ‘Apply’.
- Step 2 - Login with credentials or create an application number and password if you are a ‘New Applicant’.
- Step 3 - Provide personal details of buyer, seller and 2 witnesses. Provide property-related information such as a ward, area of the property, district, tehsil. Enter property type (residential, commercial or industrial).
- Step 4 - After providing all the details and clicking on “Calculate Fee”, the results/ amount of stamp duty and registration charges will appear on the screen. Pay the amount and save the receipt number, which will be generated after successful payment.
- Step 5 - Next, book an appointment at SRO (Sub-Registrar’s Office) and reach there at the scheduled date and time to register the conveyance deed.
Offline Procedure
Individuals willing to take the offline route to pay registration and stamp duty charges can pay the charges at the Sub-Registrar’s Office.
The above-mentioned sections give an idea of the payment of stamp duty charges in Ghaziabad. Now, let’s learn some additional information regarding this.
Remember, to pay stamp duty in Ghaziabad; individuals have to prepare certain documents. These are as follows -
- Sale Deed
- Sale agreement
- Occupancy / Possession certificate from the builder
- Sanctioned building plan
- Power of attorney (if any)
- Tax paid receipts of the last three months
- A copy of all registered previous agreements (in case of resale property)
- Encumbrance Certificate
- Electricity bill
Points to Consider Before Paying Stamp Duty in Ghaziabad
Before paying stamp duty in Ghaziabad, individuals/property buyers have to keep in mind specific pointers. These are as follows.
- If individuals pay stamp duty on time, it has a validity of six months.
- If individuals pay stamp duty on foreign documents, the validity comes down to three months.
- Buyers are liable to pay stamp duty, not sellers.
What Are the Factors That Affect Stamp Duty in Ghaziabad?
Read the table mentioned below to understand the factors that affect stamp duty in Ghaziabad.
|
Factors |
Effect on Stamp Duty Rates in Ghaziabad |
|
Age and gender of the Owner |
Stamp duty rates in Ghaziabad depend on the age and gender of the property owner. |
|
Age of the Property |
The age of the property plays a crucial role in determining the stamp duty charges in Ghaziabad. The State Government set low stamp duty rates for old buildings and high for the new ones. This is because stamp duty is calculated on property value which is less in case of old buildings and high for new ones. |
|
Location of the Property |
Location of property is another essential parameter for assessing the stamp duty rate in Ghaziabad. For instance, properties located in a municipal locality come with high stamp duty compared to properties located in Panchayat limits. |
|
Usage of the Property |
The stamp duty charges vary depending on the type or usage of property. For instance, commercial property owners have to pay higher stamp duty fees than residential buildings. This is because commercial properties (made for business motive) need additional amenities than residential buildings. |
Are Tax Benefits Available on Stamp Duty and Registration Charges?
According to Section 80C of the Income Tax Act, 1961, individuals/property buyers of Ghaziabad can claim deduction for stamp duty and registration charges fees. The maximum deduction available under this section is ₹ 1,50,000.
With an elaborate discussion on registration and stamp duty charges in Ghaziabad, we have reached the end of this piece. Individuals must pay attention to the details of the payment procedure to avoid penalty and, most importantly, to ensure proper and legal registration of the property to their name.
