Stamp duty is a mandatory tax that needs to be paid during any sale or purchase of property. The stamp duty on commercial property in Mumbai varies for different areas. The stamp duty rates for areas located within gram panchayat limits are 3%. For the municipal limits of urban areas and within municipal councils, panchayats or cantonments, it is 5% and 4%, respectively.
What are the Stamp Duty and Registration Charges for Commercial Property in Mumbai?
The stamp duty for commercial property in Mumbai is higher than the stamp duty for residential property. Here is the list of current stamp duty rates for different types of transactions:
| Type of Transaction | Percentage |
Sale Deed |
5% |
Gift Deed |
2% |
Lease Deed |
0.25% |
Mortgage Deed |
0.1% |
Leave and License Agreement |
0.25% |
Now the stamp duty and registration charges in Mumbai are:
| City | Stamp Duty Rates for Male | Stamp Duty Rates for Female | Registration Charges |
Mumbai |
6% (Stamp duty 5% + 1% Metro Cess) |
5% (Stamp duty 4% + 1% Metro Cess) |
For properties above Rs 30 lakh - Rs 30,000. |
A commercial property includes several amenities, floor space and security features. These are the reasons why the stamp duty on such properties is higher than that on residential properties. To learn about the exact charge, you should seek an expert’s guidance.
Seek NoBroker’s Expert Lawyer’s Guidance for Property-Related Queries Read More:Is stamp duty levied on a Gift deed in Mumbai for residential property?
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Authors Of The Question
What is Stamp Duty on Commercial Property in Mumbai?
Mithun
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1 Answers
9 months
2024-03-05T11:44:33+00:00 2024-03-05T11:45:45+00:00Comment
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