Stamp Duty in Goa

Stamp Duty and Property Registration Charges in Goa

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Goa, the hotspot for Indian and global tourists alike, has a booming real estate industry. Nonetheless, purchasing real estate involves a large amount of documentation and paperwork, and the most important of these is stamp duty in Goa. If you wish to buy a property in the state that is famous for its beaches, you have to register your property and pay a tax called the stamp duty.

What is Stamp Duty in Goa?

This registration is in accordance with the Registration Act of 1908. Apart from this vital activity, you also have to pay a stamp duty in Goa, a tax that the state government levies. This activity is undertaken as per Section 3 of the Stamp Duty Act of 1899. The tax that is the stamp duty in Goa acts as a boost for the government’s collection of revenue. Besides this, for new property owners, the stamp duty document ensures that ownership is legally recognised. Unless stamp duty is paid, registration, even if undertaken diligently, is not valid. In case you fail to pay stamp duty, you face a penalty.

Stamp Duty and Registration Charges in Goa

In Goa, stamp duty and registration charges are levied in accordance with the rates of property you buy in Goa. Therefore, these fees do not remain uniform, but vary according to different slabs of prices of property. The stamp duty and registration fees are a percentage of the property’s value. Here are the rates of stamp duty and registration in Goa:

Value of the Property

Stamp Duty

Registration Charges

Rs. 50 Lakhs and below

3.5%

3%

Over Rs. 50 Lakhs - Rs. 75 Lakhs

4%

3%

Over Rs. 75 Lakhs - Rs. 1 Crore

4.5%

3.5%

Over Rs. 1 Crore

5%

3.5%

Sale Agreement Charges

2.9%

3%

How Is Stamp Duty in Goa Calculated?

Any property that is bought in Goa is charged stamp duty. The stamp duty in Goa is charged based on a percentage of the value of the said property, according to its price category. This can be illustrated with the following example:

 

Let’s say that Mr. X has bought a property in Panaji worth Rs. 90 Lakhs. The value of the property, Rs. 90 Lakhs, falls in the stamp duty and registration charges in Goa category of 'Over Rs. 75 Lakhs - Rs. 1 Crore’. Any property that falls under this category is charged 4.5% of the value of the property as stamp duty. Therefore,

 

  • Stamp Duty equals 4.5% of Rs. 90 Lakhs, and that amounts to Rs. 405,000

  • Registration Fees equals 3.5% of Rs. 90 Lakhs, and that amounts to Rs. 315,000

Factors Affecting the Stamp Duty in Goa

In contrast with other states in India, Goa does not give any concessions in the rate of stamp duty and registration charges to women, backward classes or senior citizens. However, stamp duty and registration charges in Goa may be influenced by:

 

  • Variations in property rates and values

  • Indirect factors influencing high or low property value,such as location of the property, amenities and type of real estate

  • Decisions of increase in stamp duty and registration charges by the Government of Goa

Tax Benefits on Stamp Duty in Goa

According to Section 80C of the Income Tax Act of India of 1961, stamp duty and registration charges incur a tax benefit. The maximum deduction that can be claimed is Rs. 1,50,000.

Process of Property Registration in Goa

Properties in Goa are registered online, with the Registration Department of Goa at Registration Department (goa.gov.in). After you visit this portal, you may follow the steps below:

 

  • Step 1: Go to ‘Register’ and fill out a form with your information.

  • Step 2: Create a username and ID and submit the details. 

  • Step 3: Then, return to the homepage and log in as a Goa citizen.

  • Step 4: A ‘Welcome Page’ will be displayed, and you can select ‘Document Entry’ here. Then select ‘New Document Entry’ and submit your property information. You may have to upload supporting documentation here.

  • Step 5: A valuation of any given property is done and this shows up on your screen.

  • Step 6: After this the ‘Party Entry’ display will be seen and you have to fill in more details about the party purchasing the property, category of party, etc.

  • Step 7: After you save your last screen’s information, a screen pertaining to witness details will appear. You must fill in information and save this too.

  • Step 8: Next, the creed for stamp duty will appear. Fill in your property’s details like the value, etc, and the stamp duty will be computed automatically. When the E-challan for the payment is created, you have to pay the displayed amount.

  • Step 9: After you make your payment, a list of documents that you have uploaded will be displayed. You have to press ‘submit’ to save this information.

  • Step 10: An appointment display will show. Now you must select a date and time to appear at the Sub-Registrar’s Office with a hard copy of your documentation. Once the documentation is presented here, your property is registered in the state of Goa.

Documents Required for Property Registration in Goa

Stamp duty and registration charges in Goa have to be paid to register your property in Goa. However, you also need to provide a set of documents to support the application process. They constitute the following:

 

  • Important land information

  • Deed of the property

  • NOC or No Objection Certificate

  • A photograph or a layout of the given property

  • Aadhaar and PAN Cards

  • Paid stamp duty proof

  • The proof of witnesses’ identity

  • A property map

    Conclusion

    Property registration and tax payment is a crucial criterion that every property owner must fulfil. If you are planning to purchase a property, make sure that you get your property registered and make stamp duty payments accordingly. Buyers can also apply for housing loan through the Bajaj Markets portal to avail home loans at minimal interest rates. With a hassle-free experience and online application procedure, the customers can enjoy instant loan approval.

FAQs Stamp Duty in Goa

  • ✔️What are the stamp duty and registration charges in Goa?

    Stamp duty and registration charges are based on the value of the property in question and this is charged relative to varying value slabs.

  • ✔️Is it mandatory to pay registration fees for a property in Goa?

    It is mandatory to pay registration charges as it is compulsory to have a property registered in Goa.

  • ✔️How can I pay stamp duty in Goa?

    You can pay stamp duty in Goa by visiting the website of the Department of Registration of Goa at registration.goa.gov.in

  • ✔️Do I have to pay the penalty if stamp charges are not paid on time?

    You will have to pay a penalty if your property is not registered and stamp duty is not paid in time, and this could amount to a maximum of 200% of the initial amount due.

  • ✔️Is there any online provision to register property in Goa?

    You can pay stamp duty and register your property at Goa online by visiting the website of the Department of Registration of Goa.