Property acquisition in Gurgaon requires a thorough understanding of the intricacies involved in stamp duty and registration charges. These charges, significant in a home purchase, are intricately tied to the property’s circle rate, with local authorities determining the applicable fees.
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Beyond being a financial consideration, these charges contribute to the city’s infrastructure advancements. Explore the latest updates on stamp duty and registration charges in Gurgaon with essential insights for prospective homebuyers.
Stamp Duty Charges in Gurgaon
It is important to understand the stamp duty charges in Gurgaon, which range from 3-7 percent. These charges depend on various factors, such as the property location (within or outside municipal limits), the gender of the property owner (male or female), and whether the ownership is joint or not.
Stamp Duty Charges in Gurgaon
| Jurisdiction | Male | Female | Joint |
| Within Municipal Limits | 7% | 5% | 6% |
| Outside Municipal Limits | 5% | 3% | 4% |
Stamp Duty in Gurgaon for Men
In Gurgaon, stamp duty for men varies based on property location. For properties within municipal limits, it’s 7%, and for those outside, it’s 5%.
| Jurisdiction | Male |
| Within Municipal Limits | 7% |
| Outside Municipal Limits | 5% |
Stamp Duty in Gurgaon for Women
Gurgaon follows the trend seen in other cities by having different stamp duty and registration charges in Gurgaon for male and female buyers. Encouraging female property ownership, stamp duty for women is slightly lower.
| Jurisdiction | Female |
| Within Municipal Limits | 5% |
| Outside Municipal Limits | 3% |
Registration Charges in Haryana
Previously levied at Rs 15,000, the state government, in 2018, revised these charges, setting the upper limit at Rs 50,000. These charges are applicable to various documents such as gift deeds, sale deeds, lease deeds, exchange deeds, partition deeds, collaboration agreements, mortgage deeds, settlement deeds, and sale certificates.
For those purchasing luxury property in Gurgaon, understanding these updated charges is essential to avoid unexpected costs. Whether you’re buying residential or commercial property, it’s crucial to stay informed about stamp duty and registration charges to ensure a smooth transaction process.
Here is a simplified breakdown of the registration charges based on the property value:
| Property Value | Registration Charge |
| Up to Rs 50,000 | Rs 100 |
| Rs 50,001 to Rs 5 lakhs | Rs 1,000 |
| Rs 5 lakhs to Rs 10 lakhs | Rs 5,000 |
| Rs 10 lakhs to Rs 20 lakhs | Rs 10,000 |
| Rs 20 lakhs to Rs 25 lakhs | Rs 12,500 |
| Rs 25 lakhs | Rs 15,000 |
| Rs 25 lakhs – Rs 40 lakhs | Rs 20,000 |
| Rs 40 lakhs – Rs 50 lakhs | Rs 25,000 |
| Rs 50 lakhs – Rs 60 lakhs | Rs 30,000 |
| Rs 60 lakhs – Rs 70 lakhs | Rs 35,000 |
| Rs 70 lakhs – Rs 80 lakhs | Rs 40,000 |
| Rs 80 lakhs – Rs 90 lakhs | Rs 45,000 |
| Rs 90 lakhs and above | Rs 50,000 |
Stamp Duty Charges for Conveyance Deeds in Gurgaon
Stamp duty charges may also vary based on the different deed types. The table below takes a closer look at the varying charges:
| Document Type | Stamp Duty Charges |
|---|---|
| Acknowledgment of debt twenty rupees in amount or value | Rs 10 |
| Administration Bond | Rs 100 |
| Adoption Deed | Rs 1,000 |
| Affidavit | Rs 10 |
| Cancellation Deed | Rs 500 |
| Power of Attorney | Rs 1,000 |
Read:- Difference Between Carpet Area and Built-Up Area
How to Pay the Stamp Duty?
Paying stamp duty and registration charges in Haryana online is a simple process through the eGTRAS platform. This digital hub, part of Haryana’s Online Government Receipts Accounting System (e-GRAS), facilitates both manual and online tax and non-tax revenue transactions. To access e-stamps, individuals need to complete a straightforward registration on the e-GRAS portal.
How to Calculate Stamp Duty?
Calculate stamp duty in Haryana by following these steps:
- Estimate the property’s built-up area or plot size for plotted development.
- Select the property type: apartment, builder floor, plot, house, shop, or commercial unit.
- Choose the area or locality where the property is located.
- Calculate the minimum assessed value based on the current circle rate.
Procedure to Calculate
- Residential Apartments: Multiply the built-up area by the circle rate per square foot.
- Builder Floor on Independent Plot: Multiply the built-up area by the circle rate per square foot.
- House Constructed on the Plot: For the plot, calculate (plot area in square yards multiplied by the circle rate per square yard) plus (built-up area per square foot multiplied by the minimum construction cost per square foot).
- Plot: Multiply the plot area in square yards by the circle rate per square yard.
Important Factors While Calculating Stamp Duty
Calculating stamp duty accurately is crucial for property transactions. Several factors influence the stamp duty rate, including the property’s market value, location, and document type. Factors influencing stamp duty include:
- Gender of the Owner: Stamp duty charges favour females, receiving rebates to encourage home buying.
- Location of Property: Urban areas incur higher stamp duty, while rural areas experience comparatively lower charges.
- Property Type: Stamp duty rates vary for residential, commercial property in Gurgaon, and industrial properties in Haryana.
- Amenities: Properties with premium amenities attract higher stamp duty charges, reflecting the enhanced features.
Valuable Tips for Stamp Duty and Registration in Haryana
Consider these crucial aspects before addressing stamp duty in Haryana:
- Stamp a registered property on the registration day or the following working day.
- For properties beyond the territory, stamping is allowed within three months.
- Stamp at the property’s execution when both parties sign the transaction papers.
- Ensure the stamp paper includes the names of all involved parties and doesn’t exceed six months.
- Opt for adhesive stamps for Haryana’s stamp duty, removing them during execution to prevent reuse.
Conclusion
Property registration and fulfilling stamp duty obligations are crucial in Haryana. The Indian Stamp Duty Act 1899 mandates stamp duty payment. In Haryana, stamp duty rates fluctuate between 5%-8%, contingent on the document type—Sale or Conveyance Deed, Exchange Deeds, Loan Agreements, Partnership Deeds, or Gift Deeds. Additionally, registration charges, capped at Rs 50,000, hinge on the property’s value. Simplify the process by obtaining an e-stamp through the e-GRAS platform.
For expert guidance and smooth property transactions, turn to Ganga Realty, the best real estate developer in Gurgaon and a trusted name in Haryana’s real estate market.
FAQs (Frequently Asked Questions)
1. How Much Is The Stamp Duty For An Agreement In Gurgaon?
Stamp duty rates vary based on the type of agreement. Consult the latest regulations for accurate information.
2. Which Website Calculates Stamp Duty In Haryana?
For Haryana’s accurate and updated rates, calculate stamp duty effortlessly on the official e-GRAS platform.
3. What Is The Difference Between The Circle Rate And The Market Rate?
The circle rate is the government’s minimum property value, while the market rate is the actual property value.
4. Is It Mandatory To Have A Property Id In Gurgaon?
While not mandatory, having a property ID aids in precise identification and streamlines administrative processes.
5. Is There A Penalty For Non-Payment Of Stamp Duty In Haryana?
Yes, non-payment of stamp duty in Haryana may attract penalties as per the Indian Stamp Duty Act 1899.
