Hi Buddy,
According to the most recent declaration, Pune's stamp duty has gone up by 1% since, starting on April 1, 2022, the government plans to impose a 1% metro cess on all real estate transactions. The strategy will be applied in Mumbai and Nagpur as well, directing the funding toward the three cities' transportation infrastructure.
Homebuyers in Pune will now be required to pay 7% of the property's worth in stamp duty fees as a result of the additional metro cess order.
To stimulate the stagnating real estate market affected by COVID-19, the Maharashtra government earlier decreased the stamp tax on properties from five percent to two percent until December 31, 2020. The government imposed a three percent stamp fee on residential buildings from December 2020 to March 31, 2021. On April 1, 2021, that stamp duty was changed back to 5%.
Additionally, the State government announced on November 10, 2021, a one percent stamp duty discount if a property is transferred only in a woman's name. In Pune, the stamp duty rate will be 4% for all female homebuyers. Joint owners are not eligible for this reimbursement (Male and Female).
| City | Stamp Duty rates (Female) | Stamp Duty rates (Male) | Registration Charges |
Pune |
6% (Stamp duty 4% + metro cess 1% + Local Body Tax (LBT) 1%) |
7% (Stamp duty 5% + metro cess 1 + Local Body Tax (LBT) 1%) |
For properties below Rs 30 lakh - 1% of the property value |
For properties above Rs 30 lakh - Rs 30,000 |
I hope this helps:)
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Authors Of The Question
What is stamp duty and registration fees?
Shriniwas kashinath Manpathak
2375Views
2 Year
2022-07-14T18:06:21+00:00 2022-07-19T08:50:07+00:00Comment
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