With a steady increase over the years, real estate values have increased exponentially in India`s main residential markets, making purchases quite prohibitive for ordinary humans. However, house prices are not the only thing homebuyers need to worry about. The various other transaction-related expenses, including taxes and gutters, significantly increase the cost of buying a home. Given that stamp duty and registration fees are at the top of this list, it is important to be fully aware of these two obligations. We discuss registration fees and stamp duty and the definition, process and nudity of stamp duty and registration fees for real estate purchases in India. In some cases, to save stamp duty, people show an undervalued house price, in agreement. The government is suffering a loss of revenue as a result of such tax evasion. On the other hand, the « flat cost » is the contractual value plus the additional costs imposed on the buyer. This is sometimes the [Valid/Legal] fee for additional amenities, additional improvements that cannot be brought into compliance. However, often, the owners look for black money and ask for additional cash costs. It is advisable not to conduct such transactions, as they are illegal and pose a risk.
Suppose Kumar decided to register this property in the name of his wife Gita Rani. Then they have to pay the Rs 2 Lakhs as a stamp duty, since the tax applicable to women buyers in Delhi is 4%. At 1% of the value of the agreement, the registration fee remains the same for Gita Rani. The total outgo in this case will therefore be Rs 2.50 Lakhs. In this method, the agreement is printed on ordinary paper. This document is submitted to an authorized bank that processes documents through a frankier machine. Authorized banks stamp the proof of purchase of real estate or set a unit value. This proves that stamp duty was paid for the transaction. When the valuation of real estate over 02 years is established, the respective percentage of the pre-regulatory billing value must be deducted. To determine the age of the property, the certificate of occupancy or certificate of completion issued by the relevant government is verified.
If these certificates are not available, other information, such as the date of electrical connection, etc., can be accessed. Please find the prescribed age amortization rates: We have 57,793.05/- per square metre Value per apartment If you want to know the true market value of your property, you must follow the procedure and you must provide accurate information about the property in which the property is or is located, for example.B.; 1. District 2. Taluka 3. Division or village 4. Type of property such as (country, housing, office, store and industrial unit) 5.C. (Cadastral Survey Number) in Mumbai Division C.T.S. (Chain and Triangulation Survey Number in Mumbai Suburban Village F.
P. P. (Final Plot Numbers) S. N. (Survey Number) GAT Number (Area Number) property etc. (Gat Book plans relevant numbers survey / Hissa Numbers / Gat Numbers / Khasra Numbers) With the help of « RECKONER », you must be the department/village with area/area sub and C.S.C.C.T.S. property to find from the table you can property rates like land, housing, business, prices are per square meter (Built-up-Area) or at Hectare. With the help of « GUIDE LINE » for (Mumbai and Mumbai Suburban District and rest of Maharashtra), you need to increase or reduce the rate according to different valuation factors and you will get a real market value of the property.