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Ipsa Rai | 24 Jan 2023

Stamp Duty & Property Registration Charges In Pune - 2023

Stamp Duty & Property Registration Charges In Pune - 2023

Table of Content:

  1. Stamp Duty And Registration Fees In Pune 2023​
  2. How To Calculate Stamp Duty In Pune
  3. How To Pay Stamp Duty And Registration Fees Online In Pune 2023?


Transactions involving real estate in Pune necessitate the payment of stamp duty and registration fees.  The state government of Maharashtra has established the charges of stamp duty in Pune. This payment of stamp duty guarantees the registration of the property with the government. In most cases, stamp duty is considered an extra cost that the buyer is required to cover out of pocket.

 

It is necessary to draw attention to the fact that the imposition of stamp duty fees can serve as a mechanism to either slow down or speed up the growth of the demand for real estate. When the market is slow & down, the government in various states cut the stamp duty and other fees associated with registering property in an effort to stimulate the housing demand.


Stamp Duty And Registration Fees In Pune 2023

In particular, stamp duty in Pune, Maharashtra brings in a lot of money for the state government. 

The Government of Maharashtra made an announcement in April 2022 that a Metro cess of 1 percent would be levied in addition to the applicable stamp duty in Pune, Mumbai, Nagpur and Thane. This would be in addition to the applicable stamp duty. 

The current stamp duty in Pune(2023) is as follows:

GenderStamp Duty Rate & Registration Charges in Pune
Male7 Percent ( 5% Stamp Duty + 1% Metro Cess + 1% Local Body Tax)
Female6 Percent ( 4% Stamp Duty + 1% Metro Cess + 1% Local Body Tax)
Joint(Male + Female)6.5%

Suggested Read:  Know The Stamp Duty Charges in Mumbai

How To Calculate Stamp Duty In Pune

Property sale agreements, licence agreements, transfer deeds, wills, gifts, mortgage deeds, and other legal documents all incur stamp duty in the Pune area. The entire amount of the sale's consideration, as stated in the sales contract, is subject to stamp duty. 

The exact stamp duty fee is dependent on several factors, including the location, the nature of the paperwork, and so on. An individual can quickly obtain a rough estimate of the stamp duty charges in Pune online through the IGR Maharashtra website, using the method that has been described below:

1st step: Go to the website of IGR Maharashtra                                     

2nd step: Click on the "Stamp Duty Calculator" option on the homepage.

3rd step: you'll click the calculator button, which will take you to the stamp duty calculator page.

4th step: You'll have to decide which legal doctrinal instrument (sale deed, agreement to sell, gift, leave, licence, etc.) is appropriate. Check the Sale Deed box if the document in question is a deed of sale.

5th step: Select the appropriate Municipal Corporation, Municipal Council, Cantonment, or Gram Panchayat as the next step in the process.

6th step: The next step requires you to select the appropriate municipal corporation from the list that is presented to you if you opted to go with the Municipal Corporation alternative.

7th step: Once you have determined which option you want to go with, you will be prompted to enter the Consideration amount as well as the Market value.

8th step: Press the button labelled "Calculate." The appropriate amount of stamp duty in Pune will be presented on the screen at that time.

Also Read: Property Registration Process in India


How To Pay Stamp Duty And Registration Fees Online In Pune 2023?

The Government Receipt Accounting System (GRAS) of the Maharashtra Government enables online payment of stamp duty and registration fees. For stamp duty payment in Pune, both online and offline payment methods are available to users. 

Pay stamp duty and registration fees online in Pune by following the instructions provided:

  • Initiate Step 1 by visiting the official website of GRAS on your web browser.

  • The 2nd step is to go to the Inspector General of Registration (IGR) page. You will now be taken to the page that you selected. 

  • 3rd step: If you have not yet registered, go to the section labelled "Pay without registration." In the following step, you will be required to fill in the details.

  • The 4th step is to select the appropriate alternative:

  • Only stamp duty payment 

  • Only registration fee payment

  • Both stamp duty and registration charges

  • In the 5th step, choose the district that applies to the property, the SRO whose jurisdiction the property falls under, and the type of document that needs to be filed.

  • During Step 6, you will be asked to input the stamp duty amount. The user must also include the specifics of the registration fee, if he or she has elected to pay it. The applicable registration fee is 1% of the consideration amount (up to a maximum of Rs 30,000).

  • In the 7th step, enter the pertinent details of the property, as well as those of the buyer and the seller.

  • In Step 8th, choose the method of payment that best suits your needs. Payments can be made by the user using credit cards, debit cards, UPI, or even internet banking. For those who prefer to pay in cash, IGR also allows users to generate a bank challan so that they can do so at certain bank branches.

  • The 9th step is to press the button labelled "Proceed."

To summarise, the stamp duty and registration charges in Pune constitute a significant portion of the overall real estate transaction in the city. In the event that the applicable stamp duty and registration fees in Pune are not paid, the property in question may not be registered in the official records maintained by the government.  

In addition to that, the non-payment of applicable stamp duty charges in Pune may result in a legal dispute that is associated with the property. All parties involved have a responsibility to ensure that the stamp duty in Pune is paid within the allotted time.

Next Interesting Read: Answering The Top Questions Asked On Property Registration In India

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