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Stamp duty and registration charges on property purchase in Chhattisgarh

[ecis2016.org] Listed in this article are the charges you have to pay to get your property registered in Chhattisgarh.

Homebuyers in Chhattisgarh have to pay a certain portion of their property value as stamp duty and registration charge to get the sale deed registered in their names in government records. This article throws light on the numbers i.e. how much money a homebuyer in Chhattisgarh should keep aside to register his property in the state?

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What is stamp duty?

The stamp duty is a state-determined tax a homebuyer is responsible for paying in order to get the property title converted in his favour. Land being a state subject under the Indian Constitution, stamp duty charges on property vary from state to state since they have the authority to decide the extent of this levy.

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Stamp duty on property in Raipur, Chhattisgarh

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If you are buying a property in state capital Raipur or any other city in Chhattisgarh, you will have to pay 5% of the property cost as stamp duty. You will also have to pay an additional 1% of the transaction value as property registration charge in Chhattisgarh. However, this is true only in case the property is being registered in the name of a man.

Property registration in the name of Stamp duty as percentage of property cost Registration charge as percentage of property cost
Man 5% 4%
Woman 4% 4%
Joint (Man and woman) 4% 4%

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Stamp duty for women in Raipur, Chhattisgarh

Like most states in India, Chhattisgarh also offers a certain advantage to women homebuyers in India. They are hence offered a one percentage point waiver in stamp duty on property. As a result of this, properties that are registered in the name of a woman attract only 4% stamp duty.

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Property registration charge in Chhattisgarh

Unlike many states where buyers have to pay either a standard fee or 1% of the transaction value as the fee to register property, rates of property registration are higher in Chhattisgarh. Consequently, buyers have to pay 4% as the property registration charge in all cities of Chhattisgarh, provided the value of the asset is more than Rs 50,000. Note that the 4% registration charge will be applicable on the amount exceeding Rs 50,000 in this case. Suppose, you bought a property for Rs 10 lakh in Raipur. For this you will pay 4% of Rs 9.50 lakh as the registration charge which works out to be Rs 38,000.

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Be advised that registration charges in Chhattisgarh vary if the stated value of the transaction is less than Rs 50,000. Click here to check the detailed registration charge list.

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List of property documents where registration is compulsory in Chhattisgarh

 

  • Agreement to sale with possession
  • Agreement to sale without possession
  • Award deed
  • Bond
  • Cancellation deed
  • Conveyance (sale) deed
  • Counterpart or Duplicate deed
  • Exchange deed
  • Gift deed
  • Lease (For a period of one year or
  • more)
  • Mortgage deed
  • Partition deed
  • Power of attorney
  • Reconveyance of mortgaged property
  • Release deed
  • Security bond
  • Settlement deed
  • Surrender of lease
  • Transfer deed
  • Transfer of lease- By way of assignment and not by way of under lease

[ecis2016.org] All about laws of property registration in India

Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org

Source: https://ecis2016.org
Category: Must Knows

Debora Berti

Università degli Studi di Firenze, IT

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