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Stamp Duty And Registration Charges in Bangalore 2024
January 11, 2022
Have you been planning to purchase a property in Bangalore for residential or commercial purposes?
Bangalore, a popular IT hub in India, undoubtedly makes it to the top of the list of amazing cities to move in and settle in India, which is why multiple people relocate to Bangalore every year to live there temporarily or make it their permanent home.
Bangalore offers many residential and commercial areas that suit people’s needs, preferences, and budgets. Before you take a step forward in searching for the best apartments, plots, or flats in Bangalore, it is essential to have a good knowledge about the stamp duty and registration charges in Bangalore in 2024, as these two amounts will significantly impact your overall budget of purchasing a property in this city.
Note:These rates and charges are revised by the Karnataka government on 31st January every year. The mentioned below were applicable from 31st January 2024 to 30th January 2024. All the new revisions will be made post this date.
Table of Contents
What is Stamp Duty? – Stamp Duty charges in Bangalore
According to Section 3 of the Indian Stamp Act 1899, stamp duty is a legal fee paid by the buyer to the sub-registrar of the location where he wants to buy a property and get it registered under his name in the government records. This duty is paid to validate the sale agreement. The state government decides the stamp duty rate, which differs from state to state.
Factors Affecting Stamp Duty Charges
If you think stamp duty is just a formality of getting flat registration in Bangalore or anywhere in India, then you are wrong. Several factors help determine the charges of stamp duty, which are also crucial from multiple points of view. These factors include:
Age of the property
The stamp duty calculation is based on the property’s face value; therefore, the property’s age plays a significant role in determining stamp duty charges in Bangalore. The newly constructed properties are more expensive than the older ones.
Age of the property owner
The charges of stamp duty are generally low for senior citizens in the majority of states in India. This concludes that the age of the owner of the property is essential in the stamp duty calculation.
Purpose of the purchase
Residential properties attract less stamp duty than commercial properties. The latter properties require more amenities than the household properties.
Owner’s gender
Women’s stamp duty is usually less than men’s. Males have to pay 2% extra stamp duty than females.
Location of the property
This is another factor that affects the stamp duty charges in Bangalore. A property in a metro city or any other urban area attracts higher stamp duty than a property in a suburban or rural location.
Additional amenities
The number of amenities available in a property determines the amount of stamp duty. A property with more amenities, like a swimming pool, library, lawn, gym, etc., will require higher stamp duty than a property without amenities.
These factors determine the stamp duty you pay and registration charges for property in Bangalore and all over India.
How to pay stamp duty and registration charges in Bangalore?
Since stamp duty and registration are government processes, the fees should be paid in a government office. Stamp duty and registration charges in Bangalore and anywhere in India should be paid to the sub-registrar officer. He will provide all other information about your flat registration in Bangalore.
Here are the steps to follow to pay registration charges and stamp duties in Bangalore
- Begin with purchasing property stamps from authorized people in Bangalore.
- Fill in the form and pay the flat registration charges in Bangalore via demand draft through the challan provided by the government authority.
- The stamp duty and registration payment must be made within two months of buying the document. Otherwise, you might face issues like repeating the entire process.
- The payment must be certified by the sub-registrar or jurisdictional district of your location to complete the process and register the property to your name.
Stamp Duty and Registration Charges in Bangalore 2024
| Gender of Property Owner | Stamp Duty Charges | Registration Charges |
|---|---|---|
| Male owner | 5% on properties>Rs 45 lakh 3% on properties ranging from Rs 21 lakh to 45 lakh 2% on properties< Rs 20 lakh | 1% of the value of the property |
| Female owner | 5% on properties>Rs 45 lakh 3% on properties ranging from Rs 21 lakh to Rs. 45 lakh 2% on properties<=”” p=””> | 1% of the value of the property |
| Joint (Male + Female) owners | 5% on properties >Rs 45 lakh 3% on properties ranging from Rs 21 lakh to Rs. 45 lakh 2% on properties<=”” p=””> | 1% of the value of the property |
| Joint (Male + Male) owners | 5% on properties>Rs 45 lakh 3% on properties ranging from Rs 21 lakh to Rs. 45 lakh 2% on properties<=”” p=””> | 1% of the value of the property |
| Joint (Female + Female) owners | 5% on properties>Rs 45 lakh 3% on properties ranging from Rs 21 lakh to Rs. 45 lakh 2% on properties< Rs 20 lakh | 1% of the value of the property |
The Karnataka Government uplifted the stamp duty charges and made certain amendments to the Stamp Duty Act 1957. It levied only 3% stamp duty rates on properties priced between Rs. 35 lakh and Rs. 45 lakh. In 2020, the state government slashed stamp duty charges from properties priced lower than Rs. 35 lakhs.
Properties valued at more than Rs. 45 lakh will attract additional 5% stamp duty in addition to a 2% surcharge and 10% cess on the stamp duty charges. In total, the stamp duty of 5.6% will be required to be paid by you for properties in urban locations and 5.65% for properties under the jurisdiction of the Village Panchayat. However, the Karnataka government kept the registration charges the same.
How to calculate stamp duty charges in Bangalore, Karnataka?
The stamp duty calculation will be based on the indicative market value and the consideration value of the property. The higher of the two will be considered to calculate the stamp duty. There are two ways to understand and calculate the value of registration charges and stamp duty charges in Bangalore, Karnataka. Here are steps to understand the first way that will teach you how the cost is calculated
- Circle rate of the location
- Size of the flat or piece of land you are buying
- The total cost of the property after combining the factors mentioned above
- Stamp duty based on the final cost of the property.
In case you need to know what circle rate is. Circle rate is the minimum rate value in India which is different in every city. You cannot buy property below the fixed circle rate of the property. If the circle rate is too low, depending upon the location, the cost of the property will also be comparatively low, and stamp duties aren’t imposed on low-cost properties. They are majorly levied on a higher circle rate or expensive property value.
Now that you know how stamp duty and registration charges are calculated in India, you can easily calculate your flat registration charges in Bangalore.
If you still need to calculate the market value of your property, our second method will help you find it. You can calculate stamp duty and registration charges in Bangalore using the cost calculator by clicking on “calculate market value.” Here are the steps to follow:
Step 1
Click on this link – Kaveri Online Services (karnataka.gov.in)
Step 2
Select the nature and document options from the options available on the screen.
Step 3
The stamp duty calculator will require certain information, like the nature of the document and other details. Fill in all the *important blanks*, then click on “Proceed.”
Step 4
Fill in the details about the property, like region type, municipal corporation, gram panchayat, city corporation, town panchayat, etc.
Step 5
Lastly, click on ‘calculate’ and get results for your stamp duty and registration charges in Bangalore that you have to pay.
Once you enter these details, the calculator will show the indicative stamp duty rates, cess, surcharge, total stamp duty, and registration charges concerning your property.
Property Registration Charges Bangalore
As the Karnataka government did not make any amendments to the property registration charges, a property buyer must pay 1% of the property value as the registration charges along with the stamp duty rates. However, if you buy a house property for the first time, you can get a rebate on your registration charges.
| Type of Property | Registration Charges |
|---|---|
| Flat Registration Charges in Bangalore | 1% of total property value |
| House Registration Charges in Bangalore | 1% of total property value |
| Apartment Registration Charges in Bangalore | 1% of total property value |
| Site Registration Charges in Bangalore | 1% of total property value |
| Land Registration Charges in Bangalore | 1% of total property value |
| Plot Registration Charges in Bangalore | 1% of total property value |
| Resale flats Registration Charges in Bangalore | 1% of total market value |
Stamp Duty on Sale Agreement Registration in Bangalore
The stamp duty levied on the registration of the sale agreement usually is 0.1% of the total sale value or the Guidance value, the higher of the two. The registration charges will remain at 1% of the total property value.
Why do gender matter for stamp duty and registration charges on property in India?
There are almost the exact stamp duty and registration charges in India. Still, there was a time when stamp duties and registration charges in India were less for women than for men. This was done mainly to promote women’s empowerment and give women equal status in society.
In India, women were not supposed to own a piece of land due to patriarchal reasons. That was one of the major causes why they used to suffer. When women started fighting for equal rights, this step was taken to give them their due respect in society and their families.
ConclusionConsidering the financial aspects of purchasing a house or commercial property is essential, but making a property purchase in 2024 on auspicious dates will bring positive results. Make sure you pick the best dates for property registration and have a great time in Bangalore.
Frequently Asked Questions (FAQs) – Stamp Duty and Property Registration Charges in Bangalore
Q.What is the current stamp duty charge in Bangalore, India?
The current stamp duty charge in Bangalore is 3% of the total value of the property.
Q.What is the current property registration charge in Bangalore, Karnataka?
The current registration charge for property in Bangalore is 1% of the total value of the property.
Q. How to calculate stamp duty charges in Bangalore?
The stamp duty charges in Bangalore can be calculated using the service of the Karnataka government’s online stamp duty calculator. The link for the official page to calculate stamp duty and registration charges in Bangalore is given above.
Q. What is the rate of stamp duty for women in Bangalore?
The stamp duty rates in Bangalore for women are the same as for men, i.e., 5% on properties above 45 lakh, 3% for properties ranging between Rs. 21-45 lakh, and 2% for properties less than Rs. 20 lakh.
Q. What is the surcharge on stamp duty in Bangalore, India?
For properties above Rs.45 lakh, a surcharge of 2% will be levied on the stamp duty rates in Bangalore.
Q. How is stamp duty calculated in India?
The stamp duty calculation is based on the type of property for which it is being calculated. Here are the factors that matter in the calculation process:
Multi-story apartments – Stamp duty is calculated based on the super-built-up area of the property.
Independent builder floors – Stamp duty is calculated based on the total construction area.
The plot of land – Stamp duty is calculated based on the area in sq. ft.
Q. Is the calculation of stamp duty done on a carpet area basis in Bangalore?
No. Although the property is sold on a carpet area basis under the provisions of the RERA, the stamp duty is based on the total constructed area or super-built-up area.
Q. Who pays the stamp duty charges in Bangalore?
A buyer is required to pay the stamp duty charges in Bangalore and everywhere else in India. The charges are calculated on the market value of the immovable property.
Q. What is the difference between registration and stamp duty?
Stamp duty is a fee the buyer pays the state government to support the transaction value. A registration charge is an amount paid by the buyer for registering the property in the government records in his name.
Q. What are the GPA registration charges in Bangalore?
When a seller sells a property to a buyer, a power of attorney gets transferred to the buyer’s name. Article 41 of the Karnataka Stamp Act states that they both have to pay Rs. 100 towards the stamp duty and registration charges in Bangalore.
Q. Why is stamped duty paid in India?
The owner in India pays stamp duty and registration charges on the property for two reasons:
- It gives much-needed safety to the owner, and they are officially recognized as the property owner.
- It helps state governments to generate revenue and run the city smoothly and lawfully.
Q. Are Tax Benefits Available on Stamp Duty and Registration Charges?
Yes, tax benefits are available on stamp duty and registration charges with a maximum deduction limit of 1,50,000 in India according to Section 80C of the Income Tax Act 1961.
Q. Buyer of the property or seller, who pays the registration and stamp duty charges in Bangalore?
In Bangalore and India, stamp duty and registration charges are paid by the buyer of the property, not the seller. That’s because these formalities are paid by the current owner of the piece of land, not an ex-owner.
