[ecis2016.org] Mentioned is all about stamp duty and registration charges in Maharashtra in 2022 that you should know. We look at the stamp duty in Mumbai and the other important cities in Maharashtra, gift deed in stamp duty and how to pay the stamp duty and registration charges.
What is stamp duty and registration charges on property?
For every property transaction, a buyer has to pay a certain amount of tax to the state government known as stamp duty and registration charges.
You are reading: Stamp duty and registration charges in Maharashtra in 2022: All you need to know
Stamp duty and registration charges in Maharashtra 2022 are charged under the Maharashtra Stamp Act. It specifies assets and instruments details the amount of stamp duty in Mumbai /stamp duty Maharashtra to be paid to the government.
Stamp duty in Mumbai, Thane, Navi Mumbai, Pune, Nagpur and Nashik on sale, mortgage and gift deed details will attract a 1% metro cess from April 1, 2022 as these places have metro projects -operational or work under progress. According to a FPJ report, in Mumbai, revenue expected through metro cess for 2022-23 is Rs 1000 crore. The Maha government expects Rs 900 through metro cess from the remaining cities.
The Maharashtra government passed a bill in the state assembly on March 23, 2022 under which there is a stamp duty Maharashtra waiver on properties on resale from one year to three years. This move of stamp duty Maharashtra has been taken because owing to the coronavirus pandemic, profits on property resale was increasingly becoming difficult and an extension of waiver for 3 years will help. Thus, stamp duty in Maharashtra 2022 now will be paid only on the difference in price of a property and not on the complete amount for three years.
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Stamp duty and registration charges in Maharashtra 2022
What is Maharashtra Stamp Act?
The Maharashtra Stamp Act also known as Bombay Stamp Act 1958 applies to all the instruments mentioned in Schedule 1, on which the stamp duty Maharashtra is payable to the state. Recent amendments in the ACT include a revision of gift deed stamp duty Mumbai /gift deed stamp duty Mumbai, inclusion of e-payment of stamp duty Maharashtra, revision of penalty clauses and increment of stamp duty in Maharashtra under certain instrument clauses.
According to the Maharashtra Stamp Act, all instruments chargeable with stamp duty in Mumbai and executed in Maharashtra, should be stamped before or at the time of execution, or on the next working day following the date of execution. However, if the deed including gift deed stamp duty Mumbai is executed out of the territory, it can be stamped within three months after it is first received in India.
The stamp duty Maharashtra papers must be in the name of one of the parties to the transaction and not in the name of the chartered accountant or lawyer of the parties. Moreover, the date of issue of the stamp paper in Maharashtra for stamp duty must not be more than six months older than the date of the transaction.
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Rates of stamp duty Maharashtra under stamp duty and registration charges in Maharashtra 2022 can be paid by way of adhesive or impressed stamps on the deed. In addition to this, the adhesive stamps used on the deed including gift deed stamp duty is cancelled at the time of execution, so that it is not available for reuse.
After announcing a stamp duty in Maharashtra rate cut in August 2020, the Maharashtra government decided not to extend waiver on Stamp duty and registration charges in Maharashtra beyond March 31, 2021.
Stamp duty in Mumbai
| Areas in Mumbai | Stamp duty in Mumbai for men | Stamp duty in Mumbai for women | Registration charges |
| Within the municipal limits of any urban area | 6% of property’s market value | 5% of property’s market value | 1 % of the property value |
| Within the limits of any municipal council/ panchayat/ cantonment of any area within MMRDA | 4% of property’s market value |
3% of property’s market value |
1 % of the property value |
| Within the limits of any gram panchayat | 3% of property’s market value | 2% of property’s market value | 1 % of the property value |
Stamp duty in Mumbai varies across the region, depending upon the property location and type of deed.
Stamp duty Maharashtra charges urban and rural
| Cities | Stamp duty rates applicable (w.e.f. April 1, 2022) for men | Stamp duty rates applicable (w.e.f. April 1, 2022) for women | Stamp duty rates from September 1, 2020 till December 31, 2020 | Stamp duty rates from January 1, 2021 till March 31, 2021 | Registration charges |
| Mumbai | 6% (includes 1% metro cess) | 5% (includes 1% metro cess) | 2% | 3% | Rs 30,000 for properties above Rs 30 lakh Related read:
1% of property value for properties below Rs 30 lakh
|
| Pune | 7% (includes 1% metro cess, metro cess, local body tax and transport surcharge) | 6% (includes 1% metro cess, metro cess, local body tax and transport surcharge) | 3% | 4% | Rs 30,000 for properties above Rs 30 lakh
1% of property value for properties below Rs 30 lakh |
| Thane | 7% (includes 1% metro cess, local body tax and transport surcharge) | 6% (includes 1% metro cess, local body tax and transport surcharge) | 3% | 4% | Rs 30,000 for properties above Rs 30 lakh
1% of property value for properties below Rs 30 lakh |
| Navi Mumbai | 7% (includes 1% metro cess, local body tax and transport surcharge) | 6% (includes 1% metro cess, local body tax and transport surcharge) | 3% | 4% | Rs 30,000 for properties above Rs 30 lakh
1% of property value for properties below Rs 30 lakh |
| Pimpri-Chinchwad | 7% (includes 1% metro cess, local body tax and transport surcharge) | 6% (includes 1% metro cess, local body tax and transport surcharge) | 3% | 4% | Rs 30,000 for properties above Rs 30 lakh
1% of property value for properties below Rs 30 lakh |
| Nagpur | 7% (includes 1% metro cess local body tax and transport surcharge) | 6% (includes 1% metro cess local body tax and transport surcharge) | 3% | 4% | Rs 30,000 for properties above Rs 30 lakh
1% of property value for properties below Rs 30 lakh |
Stamp Duty in Maharashtra consists of the stamp duty and the additional taxes.
Properties in urban areas that fall under Municipal Corporation or Municipal Council limits have to pay 1% of the property value as cess/local body tax or / transport surcharge. This is used for funding transport infrastructure projects including s Metros, bridges, flyovers, etc. in the cities of Maharashtra
Properties in rural areas which fall under Gram Panchayat and not under the jurisdiction of any Municipal Corporation or Municipal Council have to pay 1% of property consideration value as Zilla Parishad cess instead of cess/ surcharge.
Also, note that properties in areas falling under Nagpur Municipal Corporation (NMC) and Nagpur Improvement Trust (NIT) jurisdiction have to pay an additional surcharge of 0.5% over and above the 1% cess/surcharge that is payable.
Stamp duty and registration charges in Maharashtra 2022: Gift deed stamp duty and other conveyance deed
| Conveyance deed | Stamp duty rate |
| Gift deed stamp duty Mumbai and other parts of Maharashtra | 3% |
| Gift deed stamp duty for residential/agricultural property passed on to family members | Rs 200 |
| Lease deed | 5% |
| Power of attorney | 5% for property located in municipal areas, 3% for property located in gram panchayat areas. |
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According to Article 34 of the Maharashtra Stamp Act, which was amended in 2017, gift deed stamp duty Mumbai and other parts of Maharashtra is 3% of the property’s value. However, if the property in consideration is a residential or agricultural property and is gifted (without any payment) to family members, then the stamp duty on gift deed in blood relation in Maharashtra 2021 or the gift deed stamp duty Mumbai/gift deed stamp duty Pune / gift deed stamp duty Thane is Rs 200.
Stamp Duty Maharashtra: Tax savings
Under section 80C of the Income Tax Act, one can avail income tax deductions for payments against stamp duty and registration charges and cess charges. However, note that the total IT deduction under Section 80C is not more than Rs 1.5 lakh.
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Stamp Duty Maharashtra is a tax that one has to pay to get a property stamped and registered in legal records with the Government. Under Section 3 of the Indian Stamp Act, 1899, payment of Stamp Duty Maharashtra for registering a property is compulsory. Stamp Duty Maharashtra is applicable on agreement of sale of property, leave and license agreement etc.
For property sale documents, Stamp Duty Maharashtra is payable on whichever is higher- the consideration value of the property that is mentioned in the document or the ready reckoner rates /circle rates that are decided by the government.
The property registration charges in Maharashtra are 1% of the total cost for the properties priced below Rs 30 lakh and capped at Rs 30,000 for properties priced above Rs 30 lakh.
Stamp duty and registration charges in Maharashtra 2022: Ready Reckoner rates
| City | Ready Reckoner rate |
| Mumbai | 2.6 % |
| Thane | 9.48 % |
| Navi Mumbai | 8.90 % |
| Panvel | 9.24% |
| Vasai | 9% |
| Virar | 9% |
| Pune | 6.12% |
| Pimpri Chinchwad | 12.36% |
| Sholapur | 8.08% |
| Nashik | 12.15% |
| Ahmadnagar | 7.72% |
| Latur | 11.93% |
| Aurangabad | 12.38% |
| Malegaon | 13.12% |
Stamp duty in Mumbai is calculated on the basis of ready reckoner rates and the property value mentioned in the buyer-seller agreement. This holds true for other parts of Maharashtra too. For instance, stamp duty in Mumbai for a property located in the municipal limit of urban areas will be 5% of the market value, while a property located within the limits of any gram panchayat will attract 3% stamp duty in Mumbai of the market value.
Maharashtra government on March 31, 2022 increased ready reckoner (RR) rates in the state for the FY 2022-23. Effective April 1, 2022, there is an average increase of 5% across Maharashtra (excluding Mumbai) while for municipal corporations (excluding Mumbai) the RR rates have been hiked by 8.80%. Rural parts of Maharashtra saw an increase of 6.96%. Ready reckoner rate average in Mumbai is 2.64%.
Ready reckoner rate is very important to calculate Stamp duty and registration charges in Maharashtra 2022. It depends on:
Location: Location of property has an impact on the ready reckoner rate. Mumbai is divided into 19 zones that are further classified into 221 sub zones.
Type of property: Ready reckoner rate also vary based on the type of the property. While commercial property has high ready reckoner rate, the residential property enjoy a lower ready reckoner rate. Again, ready reckoner rate value differs in a residential property too- it’s different for independent house or villa and a flat that are both located in the same area.
Property market value: Ready reckoner rate is based on the market value of the property. Any amenities that are present with the property further impact the ready reckoner rate.
The state had kept the ready reckoner rates unchanged for the financial year 2021-22 owing to the pandemic. There was a marginal increase of 1.74% in ready reckoner rates in the state in September 2020.
Reduction in stamp duty Maharashtra between September 1, 2020 to December 31, 2020 and from January 1, 2021 to March 31, 2021, was a welcome move, especially reduction in stamp duty in Mumbai and stamp duty in Pune, where the property costs are already high.
Following this announcement on stamp duty and registration charges, Mumbai saw a significant spike in spite of the economic pressure caused by the second wave of the Coronavirus pandemic.
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Explaining with an example, if cost of a property in Mumbai is Rs 1 crore, the stamp duty in Mumbai to be paid in the period from September-December 2020 was Rs 2 Lakh and from January to March 2021 was Rs 3 lakh, unlike the Rs 5 lakh which home buyers have to pay now as the stamp duty in Mumbai is presently 5%. Hence, there was a clear savings of Rs 3 lakh or 2 lakh for the home buyers.
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Stamp duty and registration charges in Maharashtra 2022: Online payment
The Maharashtra Stamp Act has been amended to accept online payment, for stamp duty in Maharashtra payable on instruments executed in the state. Follow these steps, to pay your stamp duty in Maharashtra online:
Step 1: Visit the Maharashtra Stamp Duty online payment portal.
Step 2: Click ‘Pay Without Registration’ if you are not registered with the Maharashtra stamp duty portal. If you are a registered user, fill in the login details on the Maharashtra stamp duty portal.
Step 3: If you have selected the ‘Pay Without Registration’ option, you will be redirected to another page on the stamp duty in Maharashtra portal, where you have to choose ‘Citizen’ and select the type of transaction you want to do.
Step 4: Choose ‘Make Payment to Register your Document’. Now, you can opt for paying the stamp duty and registration charges together, or stamp duty only, or registration charges only.
Step 5: Fill in the details as required such as district, sub-registrar’s office, payment details, party details, property details and property value details in the stamp duty and registration charge website.
Step 6: Choose the payment option for stamp duty and registration charges payment and proceed once done, generate the challan from the stamp duty and registration charge website, which has to be presented at the time of execution of the deed
If you are stuck at any step or you want to generate your challan again, you can drop a mail to vtodat.mum-mh@gov.in
Stamp duty and registration charges: Stamp duty Maharashtra refund
You can get a refund of stamp duty Maharashtra if:
- The stamp duty paper is not fit for use due to writing mistakes.
- The stamp paper is unsigned and complete or partial information is filled but is intended not to be used.
- The stamp paper is signed but the transaction is found to be illegal by the party as per Section 31 of Specific Relief Act.
- The court finds the transaction to be entirely illegal since the beginning (Void /ab/ initio) as per Section 31 of Specific Relief Act.
- The person whose signature is essential refuses to sign or has died before signing.
- Any party to the stamp paper document declines signing it.
- Any party to the stamp paper document does not comply with the terms and conditions.
- The value of the stamp for the document is insufficient and the transaction has been completed by using another stamp paper with the correct value.
- The stamp duty paper is spoiled and both parties have executed another stamp paper document for the same purpose.
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Stamp duty Maharashtra refund: Information to be filled online
To initiate stamp duty Maharashtra refund, it is compulsory to enter information through the online system. Once the information is fed online and a token is allotted, you have to submit the application offline. Mentioned below is the procedure in detail.
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First you have to log on to the website of IGR Maharashtra and select online services. Here, you have to click on the stamp duty Maharashtra refund application link. Alternatively, you can go to https://appl2igr.maharashtra.gov.in/refund/
Here, click on the check box on understanding the terms and conditions and click on New Entry. Enter mobile number, OTP and captcha.
Then, you will get the stamp duty Maharashtra refund token number. Now create password, confirm password, enter captcha and press ‘Submit’.
For a stamp duty Maharashtra refund, firstly one has to enter all their personal details, their bank account number and the reason for the refund. One has to enter all information about the document like if it is executed or not, registered or not etc. in the particulars of the document.
If the document is registered, and you want a stamp duty refund in Maharashtra , you have to enter the document number, date and SRO details. Likewise, cancellation deed if registered, then registration number and SRO details should be entered.
Next you have to enter particulars of the stamp including the type- whether it is e-payment, e-SBTR or franking, name of the stamp vendor along with his address, name and details of purchaser of stamp, value of stamp etc. On entering all stamp related details, an ‘Image Code’ in red will appear. You will have to mention that code in the blank frame and press on the ‘register’ button. Post this, your stamp duty in Mumbai/ stamp duty Maharashtra refund information is submitted and you will see the ‘acknowledgement‘ tab . Enter your stamp duty in Mumbai/ stamp duty Maharashtra refund token number in the application that has to be submitted to the office of collector of stamps for initiation of stamp duty refund Maharashtra.
Stamp duty and registration charges in Maharashtra 2022: Factors on which stamp duty is based on
Stamp duty Maharashtra charges depends upon whether the property is located in urban or rural areas, total cost of the transaction, etc. In April 2020, the stamp duty Maharashtra was reduced on properties for the two years, in the areas falling under the Mumbai Metropolitan Region Development Authority (MMRDA) and municipal corporations of Pune, Pimpri-Chinchwad and Nagpur.
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There are several factors influencing the Maharashtra stamp duty rate including the stamp duty in Pune, stamp duty in Mumbai etc.
- Age of the person: If the home buyer is a senior, there is a likelihood of him/her getting a reduction in stamp duty in Maharashtra when it comes to paying stamp duty and registration charge.
- Gender: To encourage women home buyers, sometimes there are options where stamp duty and registration charges in Maharashtra 2021 for female are very attractive.
- Age of the property: If a person invests in an old property, he may get a reduced stamp duty in Maharashtra. However, if the property is a new property, then, there are chances that the stamp duty in Maharashtra will be high.
- Type of property: According to stamp duty and registration charges in Maharashtra 2021, a residential property commands lesser stamp duty in Pune and other parts of Maharashtra than a commercial property .
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Stamp duty and registration charges: Ways to pay
Stamp duty Maharashtra can be paid in three ways namely:
- Stamp paper: Stamp duty can be paid using Stamp paper where details of the agreement are written on a paper that is signed by the authorised person once checked. After this the stamp paper is registered at the sub-registrar office after a period of 4 months.
- Franking: In this, the stamp duty Maharashtra is paid where in the agreement is printed on a paper that is then submitted to an authorised bank. Once submitted, the documents for stamp duty payment are processed with the help of franking machine.
- E-stamp: This is the most convenient method of paying stamp duty Maharashtra or stamp duty in Mumbai. In this the stamp duty in Maharashtra is paid using RTGS or NEFT. What is an added advantage of this way of paying Maharashtra stamp duty is an applicant would not be able to submit fake documents.
Stamp duty and registration charges: Notice of intimation charges
A person can file the ‘Notice of Intimation’ (NOI) online, for loan deposit title deed or mortgage, without going to the SRO office for which he has to pay the notice of intimation charges online. This can be done by logging on the stamp duty and registration charges website and is available all across Maharashtra.
Notice of intimation Maharashtra charges if filed online is Rs 1000, whatever the loan amount may be. If Notice of intimation is filed physically by going to the SRO office, the Notice of intimation Maharashtra charges or the document handling charge will be Rs 300.
Stamp duty and registration charges on past property documents
While the Maharashtra Stamp Act empowers the collector of a district, to call for documents within a period of 10 years from the registration date of such documents, to verify if the appropriate duty has been paid on the deed, the Bombay High Court has held that stamp duty cannot be collected for inadequately stamped past documents, at the time of its subsequent sale. Moreover, according to stamps and registration charges in Maharashtra, if the historical documents are liable to be stamped, the stamp duty shall be recovered only at the market rate prevalent when the transaction took place. That means, stamp duty and registration charge cannot be applied on a retrospective basis.
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Stamp duty and registration charges in Maharashtra 2022: Adjudication
For matters in dispute, you can file the stamp duty Maharashtra adjudication form from the downloads section. Click on ‘Forms’ and you will reach http://igrmaharashtra.gov.in/SB_DOWNLOADS/DOWNLOADS_Forms.aspx. Here, click on ‘stamps’ and then ‘adjudication’ and download the form. You can alternatively go to http://igrmaharashtra.gov.in/SB_DOWNLOADS/DATA/forms/Stamps/form_stamp_adjucation.pdf to access the form, a picture of which is shown below.
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FAQs
How is stamp duty and registration charges in Maharashtra 2022 calculated?
Stamp duty and registration charges in Maharashtra 2022 are calculated on the basis of market value or ready reckoner rates.
What is rate of stamp duty in Mumbai ?
Stamp duty Maharashtra varies across the state, according to the locality and city. Stamp duty in Mumbai is currently 6% and that includes 1% metro cess.
How can one get a stamp duty Maharashtra refund?
To initiate stamp duty Maharashtra refund, you have to compulsorily enter information on online IGR Maharashtra portal. Once done, a stamp duty Maharashtra refund token is allotted and you have to then submit the application offline in a sub-registrar’s office.
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