Stamp duty for property registration was reduced from 7.5% to 6% and the first-sale flat was made this benefit available. Now overall registration will go down, government will reduce cess and surcharge.
The notification will be issued next couple of days and this revised levy will be in effect from June. The notification will also include new flat rate of Rs 1000 for stamp duty and Rs 500 for registration of documents registered as gift deed.
From the June, property buyers in urban areas like BBMP, corporation and urban local bodies will pay 7.72% towards property registration and buyers in rural areas such as Taluk or village panchayats, agricultural lands will pay 7.78%.
A certain percentage of stamp duty is charged towards surcharge and infrastructure cess. With the reducing of stamp duty these rates will also come down. If a buyer is paying Rs 94,000 for urban property valued at Rs 10 lakhs, he will pay Rs 60,000 towards stamp duty, Rs 6000 towards infrastructure cess. From June onwards surcharge for rural areas will be only Rs 1,800 and Rs 1,200 for urban areas. Registration fee will be upwards of Rs 10,000 Levy for total registration will be Rs 77,200 for urban and Rs 77, 800 for rural.
Government amended the Karnataka stamp Act 1957 and brought “parents” under the “family” definition in the Act. Gift deed among family would attract just Rs 1,000 as stamp duty irrespective of property value and flat registration fee of only Rs 500.
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TOI: Property registration set to get cheaper
Tags: Apartment, Property Registration, Stamp duty
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Hi Dear All,
We in the field of property Consultant, we do registration of the Property,(Apartment, vacant Site, Agreements with land owner) Legal Opinion, Khata Transfer, Assements, Approvals from the various govt authorities, if there is any help required please feel free to call us at 9164001353
Nagendra
Advocate
I did my registration of my new Flat on June 8th but since the bank had made the DD on May 20th, it reflected the old charges (7.5%). Can I claim the balance amount back? I visited the Deputy Registrar. He said there will be no refunds. Was very arrogant and unhelpful. Please do advise.
Hi,
I got my flat registered on Apr 20, 2009.
Will I be able to get any refund of the difference amount? Please advise and clarify.
Thanks in advance.
Can anyone tell me what is the govt registration rate of flat in Yelahanka?
Theres should be some Rs per sqft rate of the govt right?
what is the registration chrges for 1200 sq.ft, along with 15 squares of residential bldg, at bangalore south, begur village, BBMP 192 ward
Achieving a fast sale of your apartment is hard in the present climate. If you know where to go it can still be done.
what is the registration fee for 1200 sq.ft. at bangalore south, bannerughatta village.