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Flat registration cost in Kolkata is accompanied by stamp duties which are levied on properties. These are some of the main charges levied by the government on any property that you buy. Hence as a home buyer, you must be aware of such charges.
Stamp duty on property is a tax levied by the government on property transactions. To be able to show proof of possession, you need legal evidence of ownership of the property. For this, you need to pay stamp duty and flat registration cost in kolkata. Stamp duty is dependent on the value of the property which in turn depends on other factors.
How are Stamp Duty and Flat Registration Cost in Kolkata Calculated?
Stamp duty on property is computed on the ready reckoner rate/market value/circle rate or the consideration value of the property, whichever is higher. Consideration value is the total amount involved in any purchase/sale transaction agreed between two parties.
Guidance value or circle rate is the minimum value of the property at which the property should be registered. Circle rates are determined by a competent authority under the state government. Valuation of property is dependent on several factors which include the property type, location, year of construction etc.
What are the Stamp Duty and Flat Registration Cost in Kolkata?
This table briefly summarizes the Flat Registration Cost in Kolkata along with the Stamp duties.
| Name of Article | Rate of Stamp Duty | Rate of Registration Fee |
| 4 Affidavit | Rs.10 | Rs.7 |
| 5 Agreement If related to an immovable property’s sale | The same as conveyance for market value (No.23) | Rs.7 |
| If relating to an agreement giving authority to a promoter or developer, by whatever name called, for construction on, or sale of, or transfer (in any manner whatsoever) of, any immovable property – Where the property’s market value is not more than Rs.30 lakh | Rs.5,000 | Rs.7 |
| Where the property’s market value is more than Rs.30 lakh but less than Rs.60 lakh | Rs.7,000 | Rs.7 |
| Where the property’s market value is more than Rs.60 lakh but less than Rs.1 crore | Rs.10,000 | Rs.7 |
| Where the property’s market value is more than Rs.1 crore but less than Rs.1.5 crore | Rs.20,000 | Rs.7 |
| Where the property’s market value is more than Rs.1.5 crore but less than Rs.3 crore | Rs.40,000 | Rs.7 |
| Where the property’s market value is more than Rs.3 crore | Rs.75,000 | Rs.7 |
Pay the Right Flat Registration Cost in Kolkata on your property
Flat Registration Cost in Kolkata on a property is one of our many duties as a civil person. Buying a new apartment in Kolkata, or any other part of the country entails many such duties that require legal proceedings. Check out our other blogs to know more about the same and explore residential projects by the PS group to make the most out of your home life!
FAQs
Stamp duty on property is a tax levied by the government on transactions. As per the rules laid out in the constitution, stamp duty is levied and collected by the state government. Therefore it is the state government that decides what the stamp duty should be. This is why it differs from state to state. Stamp duty is also dependent on the value which in turn depends on other factors.
A home loan does not include stamp duty and registration charges. This is an extra cost that must be borne by the purchaser. However one can choose to take out a personal loan to pay the charges.
A property has to meet with the following requirements to be become a gift under Indian laws:
– The property must a movable or an immovable property.
– It should not be a future property.
– It should be tangible.
The transfer of immovable property from father to son can be considered a gift. As per the Transfer of Property Act, the transfer of house property as a gift needs to be effected by a registered document (gift deed) signed by the person gifting the property. The amount of stamp duty payable on gift deed is same as in a regular sale. However, there is an exemption in case of specified relatives, which includes gifts from father to son.
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