Everything You Need To Know About Stamp Duty & Registration Charges
Everything You Need To Know About Stamp Duty & Registration Charges
What are the stamp duty and registration charges? Why are these important? What are the stamp duty and registration charges? How are these calculated? In the blog below, we've answered these questions and many more. Tap the link to know more!

Everything You Need To Know About Stamp Duty & Registration Charges

Buying a home is one of the best decisions. But it also comes with many responsibilities and additional costs towards the builder and government. One of the charges that the government charges is stamp duty and registration.

Whenever you sell or purchase a property in Jaipur, you will have to pay the stamp duty and registration charges to the Rajasthan government. However, these charges vary from state to state Across India. Like all the other states the registration charges in Rajasthan are fixed at 1% for everyone but the stamp charges vary from male to female as well. 

Not paying the stamp duty or registration charges can result in legal disputes over the property in the future. It can also result in the non-registration of the property.

Let us first know about

what is stamp duty & registration charges

The stamp duty is a state levy paid to register a property transaction, between two or more parties, with the registrar. This is usually the important step while buying or selling any property.

Generally, the amount is fixed or is charged at a certain percentage of the agreement value written in the document.

However, the stamp duty is not uniform in all the states and varies for different types of properties or documents. The stamp duty and registration charges also vary based on gender from about 5-6% in Jaipur.

Interestingly, a homebuyer is eligible to claim a deduction against payment of stamp duty and the registration charge under the overall limit of ₹1.5 lakh under Section 80C of the Income-Tax Act, 1961.

stamp duty & registration charges in Rajasthan

The Rajasthan stamps act 1998 governs the stamp duty and registration charges in Jaipur. This act consolidates and amends all the prevailing laws related to stamp duty and registration charges in Rajasthan.

Given below are the stamp duty and registration rates in Jaipur according to gender.

Pay stamp duty & registration charges

You can pay these charges in a number of ways depending upon your convenience.

Suggestions regarding the stamp duty

While the stamp duty is a point of pain for many homebuyers as the rates keep on fluctuating. Here is a suggestion that might prove to be fruitful to the government and the buyers.

It is hereby suggested that buyers should be given an option to pay complete stamp duty of Sale Deed at the time of registration of Agreement to Sell, itself

The current buyers would exercise their option to pay the stamp duty… So as to avoid future changes in Stamp Duty/DLC rates. This rebate would also encourage the buyers to pay complete Stamp Duty at the time of execution of the Agreement to Sell, itself.

Recent updates in the stamp duty in Jaipur

In the recent Rajasthan budget of 2020-2021, the government proposed a few changes… In the stamp duty and registration charges structure. According to the new rules, the stamp duty charges will not be levied in a special case. The case is, the husband transfers any immovable property to his wife that was usually charged at 1% stamp duty in Jaipur.

Moreover, in the case of transfer of property to the daughter or wife as a gift, the proposition of stamp duty is different. It’s 1% of market value or a maximum of 1 lakh rupees, whichever is less.

Whether you are a first-time home buyer or an experienced real estate investor, knowing about the registration and duty charges is the topmost requirement. For buying or selling a property in Jaipur. However, you must be aware of the different types of charges as they vary from state to state. Before you start any property deal.

If you are not well aware of the real estate taxes and registration processes, you can also get in touch with the real estate company. It will solve all your issues with its advisory team to make your process of home buying fairly easy.