Stamp duty and registration charges in Pune

[ecis2016.org] Although the stamp duty on sale deed is 5% of the transaction value in Pune, the Maharashtra government has announced reductions of up to 3% up to March 31, 2021

Homebuyers in Pune have to pay stamp duty and registration charges to get their property registered in government records. This guide is meant to help you have all the information about stamp duty and registration charges on property purchase in Pune.

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What is stamp duty?

Stamp duty and registration charges are two additional costs that buyers in Pune have to bear, during property purchase. Paid to the government at the time of registration, payment of these charges is compulsory under the provisions of the Registration Act, 1908.

Recall here that stamp duty is a percentage of the property value that the buyers are liable to pay, for registration. Fixed by the state government, the stamp duty Pune is periodically revised to boost or curb demand. In a slow-moving market, rates are tweaked downwards to push up demand.

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Stamp duty and registration charges in Pune from April 1, 2021

Listed below are the stamp duty and registration charges homebuyers have to pay starting from April 1, 2021.

Pune stamp duty cut in 2020

With an aim to provide an impetus to the housing market after the stress caused by the coronavirus pandemic, the Maharashtra government had reduced stamp duty on property purchases across state for a temporary period. This reduction was also application on stamp duty in Pune. Listed below are the stamp duty rates that were applicable during the waiver period.

Stamp duty and registration charges in Pune from January 2021 to March 31, 2021

Stamp duty and registration charges in Pune till December 31, 2020

Stamp duty for women in Pune

Unlike other states, where the stamp duty is lower for women, rates used to be the same for men and women in Maharashtra, till the state announced a one-percentage-point concession for the fairer sex, on March 8, 2021. Now, property can be registered in the name of the women, by paying 2% stamp duty.

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How to calculate stamp duty in Pune?

Buyers have to pay the rate fixed on the overall value of the property. However, to arrive at the property value, the buyer must first find out the circle rate in the area in which the property is located.

What is ready reckoner rate?

The ready reckoner rate (RR), as it is known across Maharashtra, or the circle rate, is the government-fixed rate, below which a property cannot be sold in an area. In a scenario where the seller has priced the property at less than the government-fixed ready rates, the stamp duty calculation will still be based on the RR rates.

By multiplying the circle rate with the area of the property, the buyer can calculate the value of the property and then calculate the stamp duty.

Example

Suppose Ram Kumar is buying a home which has a carpet area of 300 sq metres. The property is at Baner, where the circle rate is Rs 42,760 per sq metre. In this case the overall value of the property will be:

Carpet area x rate per sq metre = Property value

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400 x 42,760 = Rs 12,828,000

Considering the stamp duty in Pune at 5% of the property value, Kumar will have to pay Rs 6,41,400 as stamp duty. Since the property’s worth is over Rs 30 lakhs, Kumar will be paying an additional Rs 30,000 as the registration charge.

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Can you pay stamp duty online?

Buyers in Pune can pay the stamp duty and the registration charges online, by visiting the official portal, (click here).

Once you have registered yourself, you can proceed with the payment. For this you will have to provide every detail pertaining to the property and pay using online channels, such as internet banking. A receipt will be generated once the payment is successful. After this, the buyer can book an appointment and proceed with the property registration.

Alternatively, buyers can also pay the stamp duty in Pune by purchasing non-judicial stamp papers from a recognised vendor or through franking, where authorised banks stamp your document or affix a denomination on it, which acts as a proof that the stamp duty for the transaction has been paid.

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Stamp duty and registration charges in Pune: Latest news

Around 27 SROs under scanner in stamp duty and registration charges scam in Pune

August 17, 2021: The IGR Maharashtra has launched a probe against around 27 sub-registrar offices (SROs) in Pune, for illegal registration of small land parcels. According to the Maharashtra Prevention of Fragmentation and Consolidations of Holdings Act, 1947, small land pieces (any land parcel less than 11,000 sqft)  cannot be registered. The SROs in this scam have advised people owning 2,000 sqft and 3,000 sqft of land to come together and register their small land parcels as one parcel.

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