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Ipsa Rai | 05 Jun 2023

Stamp Duty And Registration Charges In Thane: A Complete Guide

Stamp Duty And Registration Charges In Thane: A Complete Guide

Table of Content:

  1. What Is Stamp Duty In Thane?​
  2. What Are Registration Charges In Thane?
  3. Factors Affecting Stamp Duty And Registration Charges In Thane
  4. Calculating Stamp Duty And Registration Charges In Thane
  5. Steps To Use A Stamp Duty Calculator In Thane
  6. Stamp Duty And Registration Charges In Thane Online Payment
  7. Stamp Duty And Registration Charges In Thane Offline Payment
  8. Stamp Duty And Registration Charges Thane: Exclusion And Concessions


What Is Stamp Duty In Thane?

Stamp duty charges is a type of tax that the government levies on property transactions. This tax is paid by the buyer and is calculated as a percentage of the property's sale value. 

The stamp duty rate in Thane varies between 3% to 6% of the property's market value, depending on the property type and location.

Thane falls under the Maharashtra jurisdiction and the stamp duty charges are collected by the state government under the Indian Stamp Act, 1899, and the Maharashtra Stamp Act, 1958. 

The stamp duty in Thane is based on the property's market value, which is determined by the state government's ready reckoner rates. These rates are updated every year and vary from area to area in Thane.

Also Know: Updated Stamp Duty & Registration Charges in Pune


What Are Registration Charges In Thane?

Registration charges refer to the fees that are paid to register a property transaction with the government. The registration charges in Thane are 1% of the property's market value or Rs. 30,000, whichever is lower.

The registration process in Thane involves the submission of various documents related to the property, such as the sale deed, property card, and previous property tax receipts. Once the documents are verified, the property is registered in the buyer's name, and a registration certificate is issued.

It is important to note that stamp duty and registration charges in Thane are separate expenses and must be paid independently. Failure to pay these charges can result in legal complications and may also attract penalties.

Check Out: Property Prices in Thane


Factors Affecting Stamp Duty And Registration Charges In Thane

There are a number of factors that determine the stamp duty and registration charges in Thane. Some of them are:

  • Property Type: Stamp duty and registration charges in Thane vary depending on the type of property being bought, such as residential, commercial, or industrial.

  • Property Location: The location of the property also plays a crucial role in determining stamp duty charges. Properties in prime locations with good connectivity and amenities attract higher stamp duty charges.

  • Property Value: The stamp duty in Thane is based on the property's market value. The higher the property's value, the higher the stamp duty charges.

  • Property Age: The age of the property can also affect the stamp duty rate in Thane, as older properties may have different rates.

  • Gender of the Buyer: In an effort to promote gender equality, the Maharashtra government provides a 1% concession in stamp duty charges to women buyers.


Calculating Stamp Duty And Registration Charges In Thane

Stamp duty and registration fees in Thane are computed using the following formula:

The formula to calculating Stamp duty is = (Property Value * Stamp Duty Rate).

Registration Charges = (Property Value * 1%) or Rs. 30,000, whichever is lower

For example, if the property value is Rs. 50 lakh, and the stamp duty rate is 5%, then the stamp duty charges would be Rs. 2.5 lakh. The registration charges would be Rs. 50,000 (1% of the property value).

Also Explore: Revised Stamp Duty Charges In Mumbai


Steps To Use A Stamp Duty Calculator In Thane

To calculate the stamp duty and registration charges in Thane, one can use the stamp duty calculator in Thane available online. Follow these steps to use the stamp duty calculator:

  • Visit the official website of the Maharashtra Government or any trusted third-party stamp duty calculator website.

  • Enter the property's market value in the calculator.

  • Select the property type, location, and age.

  • Enter the buyer's gender (if applicable).

  • Click on the 'Calculate' button.

  • The calculator will then display the stamp duty and registration charges in Thane applicable for the property.


Stamp Duty And Registration Charges In Thane Online Payment

The Maharashtra government has introduced an online payment system for stamp duty and registration charges in Thane

When making an online payment, follow these steps:

  • Visit the official website of the Maharashtra government's e-registration portal.

  • Create an account on the portal by providing the required details.

  • Enter the property and buyer details and generate the challan for stamp duty and registration charges.

  • Pay with a debit card, a credit card, or through internet banking.

  • Once the payment is made, the registration process can be initiated.

Stamp Duty And Registration Charges In Thane Offline Payment

To make an offline payment of stamp duty charges in Thane, the buyer needs to visit the nearest authorised bank and fill out the challan form. The form, along with the payment, must be submitted. Once the payment is made, the buyer will receive a receipt, which can be used to initiate the registration process.


Stamp Duty And Registration Charges Thane: Exclusion And Concessions

The Maharashtra government provides exemption and rebate on stamp duty in Thane under certain conditions. Some of the key exemptions and rebates include:

  • First-Time Homebuyers: The government provides a concession of 1% in stamp duty charges to first-time homebuyers.

  • Women Buyers: As mentioned earlier, women buyers are eligible for a 1% concession in stamp duty charges.

  • Transfer Between Family Members: In cases where a property is transferred between family members, such as parents and children, or husband and wife, a 2% concession in stamp duty charges in Thane is applicable.

  • Properties in Rural Areas: For properties located in rural areas, a 5% concession in stamp duty charges is provided.

  • Affordable Housing: Properties that fall under the affordable housing category are eligible for a 1% concession in stamp duty charges.

  • Charitable Trusts: Stamp duty charges in Thane are exempted for properties registered under charitable trusts.

It is essential to note that these exemptions and rebates are subject to specific conditions and eligibility criteria.


Conclusion

Stamp duty and registration charges in Thane are an unavoidable expense when buying a property in Thane. The charges vary based on several factors such as the property type, location, value, and age. The Maharashtra government has made the process of paying stamp duty and registration charges more accessible by introducing online payment options. It is also crucial to be aware of the exemptions and rebates applicable to save on stamp duty charges. As a buyer, it is recommended to consult with a real estate professional to understand the stamp duty and registration charges better and make an informed decision.

Suggested Read: Stamp Duty & Registration Charges in Top Indian Cities

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