What is Stamp Duty and How to Stamp Duty and Registration Charges Calculated

What is Stamp Duty and How to Stamp Duty and Registration Charges Calculated

What is Stamp Duty?

Stamp duty is a government tax which is levied on all legal property. Hence, stamp duty is a proof of purchase or sale of property between two or more parties. Stamp paper has to be bought in the name of seller or buyer, it is valid for 6 months.

Factors that Define the Stamp Duty on Home Loan Property Age:- The age of the property under consideration is important for determining the stamp duty on home loan charges that you will have to pay.

Owner's Age:- Your age determines the amount you will owe in stamp duty charges.

Owner's Gender:- If the owner is female then the registration fee is less and if the owner is male then the fee is levied, with a difference of 2% in both the registries.

Factors that Define the Stamp Duty on Home Loan Purpose of Property:- If your property is a commercial building then you will pay more for stamp duty.

Property Location:- The location of your property tells you how much stamp duty will be charged against your property.

Amenities:- The state government is backed by law to charge you a fee for every additional facility you get on your property during the registration process.

What are Home Loan Registration Charges?

Home loan registration charges are the fees not covered by your home loan. When you are going to buy a house then you have to give home loan registration amount. 1% interest is charged to you on the basis of the value of your house, for example, 10 lakhs Rs. has to be paid 10000 Rs interest.

How to Pay Your Stamp Duty on Home Loan and Home Loan Registration Charges ● Estimate the value of your property and calculate the stamp duty payable. ● Buy non-judicial stamp paper of the sum due.

You can find e-stamp paper online for procurement. ● Prepare the sale deed by getting the services of a lawyer authorized to represent.

How to Pay Your Stamp Duty on Home Loan and Home Loan Registration Charges ● Pay stamp duty on home loan and home loan registration fee. ● Visit the Sub-Registrar's office for registration of your property. ● Submit the required documents like Home Loan NOC Certificate (No Objection Certificate). ● Upon verification of the documents, the registration process is deemed complete.

More Info:BAJAJ HOUSING FINANCE LIMITED Cerebrum IT Park, 5th Floor B2 Building, Holy Cross Rd, Kalyani Nagar, Pune, Maharashtra 411014 Phone number : +91 8698010101

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