Stamp Duty is a form of tax that buyers have to pay when purchasing a property. Under Section 3 of the Indian Stamp Act 1899, paying stamp duty is compulsory to get a property registered. It is calculated as a percentage of the circle rate (also known as the Ready Reckoner rate) of the property, or its value, as mentioned in the agreement, whichever is higher. The stamp duty rates on property may vary from state to state, and even within a state based on various factors.
Factors affecting Stamp Duty Rate
● Status of the property –
Old or new unit, agricultural or non-agricultural land, etc.
● Location of the property –
The jurisdiction under which a property falls helps determine the applicable rate of stamp duty. Rates may be different for properties in the city, in a suburban area, metropolitan area, rural area, etc.
● Age and gender –
In select states, rebates and discounts in stamp duty rates are applicable for women and senior citizens.
Additional Read: What is a Stamp Duty? How to Calculate Stamp Duty Online?
Stamp Duty Rates 2020
The new stamp duty rates applicable in different states have been listed below.
|States||Stamp Duty Rates|
Male seller to female buyer – 5.7%|
Female seller to male buyer – 6.3%
Other cases – 6%
Up to Rs. 50 lakhs – 3.5%|
Rs. 50 lakhs – Rs. 75 lakhs – 4%
Rs. 75 lakhs – Rs. 1 crore – 4.5%
Over Rs. 1 crore – 5%
Male – 6% in rural areas and 8% in urban areas|
Female – 4% in rural areas and 6% in urban areas
|Jammu and Kashmir||5%|
Up to Rs. 20 lakhs – 2%|
Rs. 20 Lakhs – Rs. 35 lakhs – 3%
Over Rs. 35 lakhs – 5%
|Maharashtra||2% (From September 1 to December 31, 2020) 2% (From January 1 to March 31, 2021)|
|Odisha||5% (Male) 4% (Female)|
|Punjab||7% (Male) 5% (Female)|
|Rajasthan||5% (Male) 4% (Female)|
4% + 1% (For people of Sikkimese origin)|
9% + 1% (For others)
Male – 7%|
Female – 7%- Rs. 10,000
Male – 5%|
Female – 3.75%
Up to Rs. 25 lakhs – 7%|
Above Rs. 25 lakhs – 6%
Note: This table is for reference purposes only. States may revise their stamp duty rates. Please refer to the official website of the State for current stamp duty rates.
Additional Read: How to do Registration of a New House?
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