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Hi Preeti,
The stamp duty in Chennai is 7% of the property value and the registration charges are 1% of the property value.
Let's use the following scenario to realise stamp duty and property registration fees:
Amit purchased a home in Chennai for the recommended price of Rs.40 lakh. So he has to pay the mentioned fees:
Registration costs Rs.40,000, or 1% of Rs 40 lakh.
7% of Rs.40 lakh, or Rs.2,80,000 is the stamp duty.
Consult an expert at NoBroker to get help with understanding property-related queries. Draft your sale agreement with NoBroker here for a hassle-free experience. Read More: How to calculate stamp duty and registration charges? How to calculate stamp duty and registration charges in Pune?Authors Of The Question
What are the Stamp Duty & Registration charges?
Preeti Narayan
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1 Year
2022-09-29T11:16:24+00:00 2022-09-29T20:18:25+00:00Comment
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