02 Mar 2022

Stamp Duty and Registration Charges in Mumbai

Stamp Duty and Registration Charges in Mumbai

The stamp duty rates in Mumbai are governed under the Maharashtra Stamp Duty Act. 

Stamp duty is a crucial document that helps you legally claim ownership over a property. Once a property is purchased, the buyer is required to register the property with the local governing authority and pay the stamp duty and registration charges. 

In case the buyer fails to do so, a heavy penalty can be imposed on them by the local municipal corporation.

Factors That Affect Stamp Duty

There are four major factors that affect the stamp duty of a property.

1. Age of the property:

The age of the property you're hoping to purchase can altogether diminish or expand the stamp duty you pay on it. The more established the development of the property is the more refund can be profit wear the stamp duty.

2. Type of property:

The sort of property alludes to the utilization that the property will go through. For instance, private property will draw in lesser stamp duty charges when contrasted with a business property in Maharashtra.

3. Age of the proprietor:

Owners that are senior residents are expected to pay lower stamp duty when contrasted with those not under this classification.

4. Gender of the proprietor:

Women property purchasers in Maharashtra are expected to pay diminished stamp duty in Maharashtra when contrasted with male landowners.

Stamp Duty Rates In Mumbai

In Mumbai, unlike many other cities in Maharashtra, property buyers do not need to pay the Local Body Tax. The stamp duty charges in Mumbai vary mainly according to the gender of the property buyer.

A male property buyer in Mumbai will have to pay 5% of the Ready Reckoner rate as the stamp duty charges. Meanwhile, a female property buyer in Mumbai is required to pay 4% of the Ready Reckoner rate as the stamp duty charges.

Ready Reckoner Rate In Mumbai

The Ready Reckoner Rate (RR) is a price of property set by the local governing authorities. The RR in the different areas of Mumbai is:


Place In Mumbai

RR for Flats/Apartments

RR for Residential Lands

Andheri East

Rs.114,000 - Rs.243,600

Rs.58,900 - Rs.142,200

Andheri East - Kurla Road

Rs.108,300 - Rs.158,200

Rs.60,000 - Rs.81,700

Andheri East Marol

Rs.92,100 - Rs.157,300

Rs.50,200 - Rs.95,100

Andheri Oshiwara

Rs.100,600 - Rs.237,100

Rs.52,800 - Rs.147,600

Andheri Varivali

Rs.144,900 - Rs.173,000

Rs.76,400 - Rs.103,700

Andheri Versova

Rs.149,000 - Rs.209,400

Rs.74,700 - Rs.125,600

Andheri West

Rs.137,500 - Rs.210,100

Rs.70,600 - Rs.136,500

Bandra East

Rs.111,400 - Rs.289,900

Rs.57,900 - Rs.169,000

Bandra Reclamation

Rs.242,600 - Rs.242,600

Rs.148,100 - Rs.148,100

Bandra West

Rs.131,700 - Rs.449,600

Rs.74,500 - Rs.299,900

Bapnala

Rs.91,200 - Rs.91,200

Rs.40,900 - Rs.40,900

BKC & Kalina

Rs.129,400 - Rs.344,000

Rs.78,100 - Rs.206,800

Borivali East

Rs.52,800 - Rs.186,800

Rs.38,800 - Rs.112,100

Borivali West

Rs.95,300 - Rs.117,600

Rs.39,400 - Rs.71,300

Brahamanwada

Rs.120,000 - Rs.136,700

Rs.65,100 - Rs.71,100

Byculla

Rs.82,000 - Rs.469,900

Rs.38,500 - Rs.214,200

Colaba

Rs.280,400 - Rs.652,100

Rs.130,400 - Rs.339,000

Dadar

Rs.71,300 - Rs.222,000

Rs.40,200 - Rs.102,300

Dharavi

Rs.73,600 - Rs.88,000

Rs.25,000 - Rs.42,900

Dindoshi

Rs.93,700 - Rs.170,200

Rs.34,000 - Rs.102,200

Fort

Rs.182,100 - Rs.592,300

Rs.97,000 - Rs.296,500

Girgaum Chowpatty

Rs.165,400 - Rs.450,700

Rs.78,900 - Rs.256,400

Goregaon East

Rs.51,000 - Rs.220,500

Rs.21,200 - Rs.130,500

Goregaon West

Rs.68,700 - Rs.177,500

Rs.26,800 - Rs.114,700

Jogeshwari East

Rs.115,100 - Rs.210,600

Rs.60,800 - Rs.117,200

Jogeshwari West

Rs.88,400 - Rs.196,900

Rs.40,000 - Rs.124,700

Juhu

Rs.230,700 - Rs.376,600

Rs.136,900 - Rs.227,400

Kandivali East

Rs.42,900 - Rs.169,400

Rs.32,400 - Rs.91,900

Kandivali West

Rs.130,800 - Rs.130,800

Rs.73,300 - Rs.73,300

Lower Parel

Rs.178,300 - Rs.523,600

Rs.48,800 - Rs.236,100

Madh Village

Rs.58,400 - Rs.58,400

Rs.22,600 - Rs.22,600

Mahim

Rs.214,500 - Rs.381,500

Rs.98,600 - Rs.210,500

Malabar & Cumballa Hills

Rs.339,500 - Rs.861,000

Rs.185,700 - Rs.475,400

Malad East

Rs.74,600 - Rs.163,100

Rs.29,500 - Rs.80,500

Malad West

Rs.98,900 - Rs.170,900

Rs.45,600 - Rs.86,600

Malad West North

Rs.70,500 - Rs.128,500

Rs.28,700 - Rs.76,300

Malad West South

Rs.99,400 - Rs.158,200

Rs.45,500 - Rs.88,400

Malvani

Rs.78,800 - Rs.106,000

Rs.38,600 - Rs.63,400

Mandvi

Rs.126,000 - Rs.221,200

Rs.65,700 - Rs.130,600

Marine Drive

Rs.164,800 - Rs.445,600

Rs.83,300 - Rs.221,800

Matunga

Rs.142,500 - Rs.252,000

Rs.56,300 - Rs.113,600

Mazgaon

Rs.69,400 - Rs.217,600

Rs.27,100 - Rs.97,400

Nariman Point

Rs.413,700 - Rs.576,300

Rs.192,200 - Rs.308,700

Parel Sewri

Rs.84,600 - Rs.335,700

Rs.26,200 - Rs.144,50

Parigha Creek

Rs.89,100 - Rs.171,700

Rs.35,200 - Rs.93,400

Parjapur Andheri

Rs.85,400 - Rs.85,400

Rs.39,800 - Rs.39,800

Princess Dock

Rs.158,900 - Rs.240,200

Rs.56,400 - Rs.130,600

Sahar

Rs.140,800 - Rs.140,800

Rs.69,600 - Rs.69,600

Salt Pan

Rs.91,600 - Rs.191,900

Rs.46,000 - Rs.85,800

Sion

Rs.127,700 - Rs.233,300

Rs.55,300 - Rs.115,900

Tardeo

Rs.171,300 - Rs.337,400

Rs.82,600 - Rs.184,700

Vile Parle East

Rs.93,100 - Rs.215,600

Rs.46,200 - Rs.129,500

Vile Parle West

Rs.176,300 - Rs.273,200

Rs.105,600 - Rs.160,500

Villages

Rs.42,000 - Rs.125,400

Rs.16,500 - Rs.62,700

Wadhvan

Rs.64,200 - Rs.130,100

Rs.25,100 - Rs.64,900

Worli

Rs.172,500 - Rs.587,800

Rs.77,700 - Rs.318,200

Registration Charges In Mumbai

Just like the Stamp Duty, the registration charges in Mumbai are also set by the Maharashtra Government. 

For all properties with a market value below Rs.30 Lakh, the registration charges are set at a static Rs.30,000. However, once the market value of a property crosses over Rs.30 Lakh, the buyer is required to pay 1% of the market value as the registration charges.

Also read: Advantages of Buying Property in Mumbai

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