Current Stamp Duty and Registration Charges in Kolkata

Stamp Duty and Registration Charges in Kolkata

All You Need to Know About Stamp Duty in Kolkata

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Stamp Duty and Property Registration Charges in Kolkata

For buying a property or a house in cities across the country, including Kolkata, you have to first make payment for the value of the property. Next, you need to pay revenue to the state government as stamp duty and registration fee. The payment of both stamp duty and registration charges are compulsory under the relevant provisions of the Stamp Act and Registration Act. While stamp duty is prescribed on the property transactions, such as sale deed, the registration fee, as a specified percentage of the property’s value, is levied for legally registering your property. Non-payment of the fee for registration and stamp duty charges can result in the imposition of fines and penalties, besides nullifying the legal validity of the property. You should also keep in mind that the amount paid for both charges are fixed by the state government and can vary between different states in India.

Here’s a look at the rate of stamp duty and registration fees in Kolkata:

Name of Article

Rate of Stamp Duty

Rate of Registration fee

Affidavit

Rs. 10

Rs. 7

Agreement giving authority to a promoter for construction or sale of immovable property.

Rs. 5,000

Rs. 7

Conveyance

  • 5% of the market price in panchayat areas

  • 6% of the market price in municipal areas, corporations and notified areas.

  • 1% additional stamp duty for both rural and urban areas if the property’s market price is over Rs. 1 Crore.

1% of the market price of the property.

Agreement for sale of immovable property

Same as conveyance

Rs. 7

Exchange of property

Same as conveyance

1% of the market price of the property.

Partition of property

0.5% of the market price of the property

1% of the market price of the property.

Gift of property to a family member

0.5% of the market price of the property

1% of the market price of the property.

Power of Attorney given to a promoter for construction, sale and transfer of immovable property

Rs. 5,000

NA

How Does the Stamp Duty Differ in Different Areas of Kolkata

Contingent upon the location of your property and its prevailing market price, you are required to pay different stamp duty rates. To know the stamp duty in Kolkata, you can refer to the table given below:

Property’s location

If the market price of the property is less than Rs. 25 Lakhs

If the market price of the property is more than Rs. 40 Lakhs

Corporation areas in Kolkata and Howrah

4%

5%

Municipal corporation/Municipality/Notified area

4%

5%

Other categories, such as panchayat areas

3%

4%

To know the stamp duty instantly, you can also use the stamp duty calculator in Kolkata, available on the official web portal of the state’s government’s directorate of registration and stamp revenue. You can refer to the link:https://wbregistration.gov.in/(S(1haf2uittcrjv15hqrwfqukm))/SD RF_Calculator.aspx

How are the Property Registration Charges Determined in Kolkata?

The state government’s department of registration and stamp revenue fixes the registration charges in Kolkata based on the prevailing market price of the property. The government determines the market price on the basis of several variables, like the type of property, location of the property, and more. Here, you must keep in mind that the actual transaction value between the seller and buyer is not considered while determining the flat registration charges in Kolkata. At present, the house registration charges in Kolkata are fixed at 1% of the property’s market price.

Case Study on Property that Costs Less than Rs. 25 Lakhs

To understand the flat registration process in Kolkata, let’s take an example. Suppose you have purchased a property or house worth Rs 20 Lakhs in Kolkata. If the property is within the limits of the municipal corporation, municipality or notified area, you have to pay the prescribed stamp duty of 4%, which amounts to Rs. 80,000. Also, you have to pay the mandated 1% rate as the house registration charges in Kolkata, which amounts to Rs. 20,000. So you need to pay Rs. 1 Lakh (Rs. 80,000 + Rs. 20,000) as the stamp duty and registration fees in Kolkata.

Case Study on Property that Costs More than Rs. 40 Lakhs

To understand the flat registration process in Kolkata for a house or property worth above Rs. 40 Lakh, let’s take an example. Suppose the value of your property, located within municipal corporation/municipality/notified area limits, is Rs. 50 Lakhs. Then, you are required to pay the mandated stamp duty in Kolkata, which is 5% of the property’s value. This amounts to Rs. 2.5 Lakhs. Also, you have to pay the prescribed rate of 1% as flat registration charges in Kolkata. This amounts to Rs. 50,000. So you need to pay Rs. 3 Lakhs (Rs. 2,50,000 + Rs. 50,000) as the registration and stamp duty charges in Kolkata.

 

Conclusion

It is a legal requirement on your end to pay your stamp duty and other relevant fees when you are registering a new property. Failure to do so can invite grave legal consequences. Hence, it is important to cover them at the right time. Oftentimes, these fees amount to lakhs or crores of rupees, depending on the value of the property. But, these expenses can be easily taken care of with the help of a home loan. Through Bajaj Markets, you can avail housing loans online at affordable home loan interest rates. If you are someone who is looking to cover such fees via a housing loan, go ahead and apply for a home loan right away!