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Home / Legal / Due Diligence / How to find value of property as per stamp valuation authority?
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How to find value of property as per stamp valuation authority?

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-8 2021-06-14T21:02:39+00:00
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Stamp duty is a tax that a person needs to pay at the time of purchase of a property. The stamp duty is charged as per the area of a property. It is important to consider the value of

 property as per stamp valuation authority for calculation of stamp duty . The stamp duty valuation is based on the aspects mentioned below:

Conditions of Stamp duty Valuation by the Income tax department: 
  • A person is liable to pay stamp duty as per the Registration Act, 1908.

  • The stamp duty charge is based on the circle rate as prescribed by the registration authority. Circle rate is the rate below which the property can not be sold or purchased. If a person sells his property below circle rate then also he has to pay stamp duty as per the circle rate.

  • Under section 50C it is important to pay capital gain tax whenever a person sells his property and to calculate the capital gain you need to find the sell consideration value.  Generally, agreement value is considered to be the sale consideration.

  • As per the section 50C if the value of stamp duty is more than sale consideration and to calculate the capital gain.

  • For better understanding take a look at the example mentioned:

Suppose you have made an agreement to sell your property at Rs 1 cr but at the time of paying the stamp duty valuation came for Rs 1,10,00,000. Now under income tax section 50c says when you calculate your capital gain then your sale consideration will be calculated at Rs 1,10,0000 from this amount the cost of acquisition will be deducted. After the subtraction of the acquisition value from the sale consideration on that value, you have to pay the capital gain tax.

This is the way to find out the value of property as per stamp valuation authority.

 

Wondering how to find value of property as per stamp valuation authority? When calculating the stamp duty for property transactions, it’s essential to consider the value as per the stamp valuation authority (SVA). You can get the value by visiting your SVA local office. Moreover, scroll down to get the detailed information.

How to Get Value of Property as per Stamp Valuation Authority?

Stamp duty is a tax paid during property purchase. It’s charged based on the property’s area. The value for stamp duty is determined by the circle rate set by the registration authority. Circle rate is the minimum rate at which a property can be sold or purchased.

Here’s how you can find the property value based on SVA guidelines:

  1. Section 50C and Capital Gains

    :

    • Section 50C of the Income Tax Act mandates that the value as per SVA should not be lower than the stamp duty value assessed by the authority.

    • When calculating capital gains, use the SVA value.

    • Example: If you agree to sell your property for ₹1 crore but the stamp duty valuation is ₹1,10,00,000, your capital gain will be based on the higher value of ₹1,10,00,000.

  2. Steps to Determine SVA Value

    :

    • Visit your local SVA office or check online tools (available in some states).

    • Provide property details (location, size, type, amenities).

    • Consult a legal expert familiar with the local real estate market for guidance.

Remember, the SVA value ensures accurate stamp duty calculation and compliance with tax regulations.

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How to Calculate Market Value of Property 2024

 

The steps for how to calculate value of property as per stamp valuation authority is as follows: The SVA determines the fair market value of the property, and it is different from the actual transaction value.

Each state has its own Stamp Valuation Authority, and offices in various regions. You can visit your local SVA office to inquire about the valuation of the property. Provide them details of your property, including its location, size, type, and any amenities or improvements.

Consult a legal expert who is well-versed in the local real estate market. They can guide you on the likely valuation by the SVA for your property.

Some states have online tools and calculators that can help you estimate the SVA value of your property.

You can also check local property registration records or the SVA's official website.

The local SVA will issue a certificate with the assessed property value. It is used for stamp duty and registration purposes.

You can also hire a registered valuer who can assess the property and provide a valuation report that is acceptable to the SVA.

This is how to calculate value of property as per stamp valuation authority.

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0 2023-03-30T10:55:58+00:00

The market value of a property determines the stamp duty value for property. The Karnataka government has a calculator available online that can be used to compute it. Property values over Rs. 45 lakhs are subject to a 5% stamp duty, while those under Rs. 20 lakhs are subject to a 3% charge.

Get expert legal assistance service for property document verification from NoBroker How to know stamp duty value of property?

In Karnataka, the state government sets the stamp duty rates, which can vary at any time. Nonetheless, when choosing and settling on stamp duty rates in Karnataka, the following variables are taken into account.

  • The area is multiplied by the current plot guideline value (in sq ft).

  • The super-built-up area is taken into account when calculating stamp duty for flats and apartments.

  • The overall area of independently owned homes is taken into consideration.

How to get stamp duty value of property in Karnataka?

The government of Karnataka offers a simple tool for figuring out the value of property for stamp duty. The stamp duty amount is calculated by this web application based on the given information.

  • Log in to the 

Kaveri Online Services Portal

 

(Official portal of stamp and registration department, Karnataka)

  • Click on the ‘Stamp duty and registration fee Calculator’ tab.

  • The system will be redirected to the calculator screen.

  • Enter the details such as Region type, Indicative market value, and Indicative Consideration Amount.

  • Click on the ‘Calculate’ button.

  • The following details will be displayed on the screen-

  1. Government Duty

  2. Surcharge Value

  3. Cess Value

  4. Total Stamp Duty

  5. Total Registration Fees

I’d like to conclude my answer here about the stamp duty value for property. I hope this helps:)

Read More:

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1 2022-11-25T08:16:01+00:00

This year we bought a 1 BHK property and were asked to pay the stamp duty. We thought that the seller must pay it but no, the buyer ought to pay the stamp duty during the sale agreement. My father had no idea what amount of money was to be paid as the

stamp value of the property so had to talk with some friends and lawyers to know the exact amount. Let me share how it is calculated.

Seek NoBroker Legal experts’ help to know the stamp value and get your property documents verified as well

How to calculate stamp duty value of property?

Honestly the more we asked people about it the more we got confused. We had no idea about

how to find stamp duty value of property so thought it would be best to seek a legal expert’s advice. There are several aspects upon which the stamp duty is calculated. It is usually 5% to 12% of the purchase price but it depends on a number of factors like:

  • Value of the property

  • Purchase date and whether the buyer has multiple houses or not

  • A person purchasing additional residential property needs to pay 3% surcharge on each of the threshold bands

We are from Karnataka and our government has reduced the stamp duty rates from 5% to 3% for properties valued under Rs 35 lakh to Rs 45 Lakh. So for a property worth Rs 35 lakh, 3% stamp duty means Rs 1 lakh thousand.

For properties under Rs 20 lakh, the rate is 2%. 

  What does Sec 50C of the Income tax Act deal with?

The value as per stamp valuation authority Sec 50C, should not be anything less than the stamp duty value that gets assessed by the Stamp Valuation Authority. So after subtracting the acquisition value from the sale consideration on that value, you have to pay the capital gain tax.

 

You have to pay the stamp value of the property to get your property registered so try to know the amount yourself or from some experts.

  Read More:

How to calculate stamp duty value of property?

What is stamp duty value?

-1 2022-05-30T21:29:30+00:00

Hi, 

I think everyone knows that real estate investment is highly profitable. If you buy a house and the market value of the property increases tenfold, you will acquire great wealth. For this purpose, you will need to know details on the old house valuation calculator India. 

The value of any property is dependent on various factors You can read about them in the comments above. For the most part, the guidance value to calculate the valuation of land or an apartment is done by the Stamp Valuation Authority (SVA). SV also depends on the stamp duty on lived registration of properties. Usually, the charges and cess are indirectly proportional to the total market value of the property. If the property is located in an Urban area, the market value and resale value will be different. I have noticed that properties located in rural areas have a lesser market value. 

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Website :

There are many flat value calculators available online. You can just choose the one you like for Google and input your details. The algorithm will calculate an approx. value for you. You can also check out real estate platforms like NoBroker. The property listings on the site will give you an idea about the prevailing market value. 

The resale value of a flat after 20 years will heavily depend on the type and condition of the property. If the flat you are selling is located in a dilapidated building, the resale price will fall. If there is good infrastructure around the property and it's well maintained. You will fetch a higher price. When you register the real property, you will have to pay the stamp duty charge. Read the chart to know the state-wise rates. 

States

Stamp Duty Rates

Andhra Pradesh

5%

Arunachal Pradesh

6%

Assam

8.25%

Bihar

Male to Female - 5.7%

Female to Male - 6.3%

Other cases - 6%

Chhattisgarh

5%

Goa

Upto Rs 50 lakh - 3.5%

Rs 50 - Rs 75 lakh - 4%

Rs 75 - Rs 1 crore - 4.5%

Over Rs 1 crore - 5%

Gujarat

4.9%

Haryana

For male - 7% in urban areas

For female - 5% in urban areas

Himachal Pradesh

5%

Jammu and Kashmir

5%

Jharkhand

4%

Karnataka

5% (above Rs 45 lakh)

3% (Rs 21-45 lakh)

2% (Less than Rs 20 lakh)

Kerala

8%

Madhya Pradesh

7.5%

Maharashtra

6% for male

5% for female

Manipur

7%

Meghalaya

9.9%

Mizoram

9%

Nagaland

8.25%

Odisha

5% (Male)

4% (Female)

Punjab

7% (Male)

5% (Female)

Rajasthan

5% (Male)

4% (Female)

Sikkim

4% + 1% (in case of Sikkimese origin)

9% + 1% (for others)

Tamil Nadu

7%

Telangana

5%

Tripura

5%

Uttar Pradesh

Male - 7%

Female - 7%-Rs 10,000

Uttarakhand

Male - 5%

Female - 3.75%

West Bengal

Upto Rs 1 crore - 6%

Above Rs 1 crore - 7%

Apartment resale value calculator  is depending on internal and external elements. The registration value is considered to be the market value when the sale price of the property is lower than its registration cost.

This is all I know about old house valuation calculator India.

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Read more : What will be the resale value of my property which is a 30-year-old Apartment?    What to check when buying a resale flat ?    How to check Patta for resale flat?    

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