TheTaxHeaven Dictionary - Know the meaning of tax

Stamp Duty

Stamp Duty Definition 

Stamp duty is a tax levied by the state on property transfers, validating property ownership. 

It serves as legal proof of ownership, without which, determining legal ownership would be impossible. 

This duty is imposed by the state's ministry. 

About Stamp Duty 

Stamp duty is a tax payable under the Indian Stamp Act of 1899 by property buyers. It's only valid for a specific period, after which, it doesn't state legal ownership of the property. 

The period of validity is influenced by factors like property location, purchase price, market rates, buyer's gender and age, purchase intent, and attached amenities. 

Indian Stamp Duties 

Below are the different stamp duties and registration fees per location in India: 

Location                                                          Stamp Duty                                                    Registration Fees
Delhi 4% - 6% 1% of the deal
Bangalore 2% - 5% 1% of the property rate
Mumbai 3% - 6% 1% of the property rate
Kolkata 5% - 7% 1% of the total property rate
Chennai 1% - 7% 1% to 4% of the property rate
Uttar Pradesh 7% 1% of the total property rate
Maharashtra 5% 1% of the total property rate
Rajasthan 5% - 6% 1% of the total property rate
Gujarat 4.9% 1% of the total property rate
Kerala 8% 1% of the total property rate
West Bengal 7% to 8% 1% of the total property rate