Stamp Duty & Registration Charges in Pune

If you are planning to buy a housing property, consider the stamp duty and registration charges you are required to pay. These are costs that must be payable. Properties in Pune also fetch stamp duty and property registration charges like the rest of the country.

What are Stamp Duty and Property Registration Charges?

Stamp duty is a one-time real estate transaction levied by the concerned state government. It is chargeable during the registration of a property.

Determining Factors For Stamp Duty and Registration Charges in Pune

Pune falls under the jurisdiction of the state of Maharashtra. Hence, the stamp duty and property registration charges levied for a property in Pune follow the guidelines of Maharashtra.

The following are the factors that determine the stamp duty and registration charges in Pune:

  • Type of Property: A property meant for commercial use fetches a higher stamp duty than a residential property.
  • Location of Property: A property located in a rural or semi-urban area charges lower stamp duty and property registration.
  • Market Value of the Property: The total area covered and the market value of the property are also factors when calculating the stamp duty and registration charges in Pune.
  • Age/Gender of the Owner: The stamp duty and registration charges in Pune are subsidized if the owner of the housing property is a senior citizen or a woman.

What are the Current Stamp Duty and Registration Charges in Pune?

In 2020, the government of Maharashtra reduced the stamp duty charges from 5% to 2%. The reduction was allowed because of the pandemic situation at that time. The reduced rate was applicable if you bought the property between 1st September 2020 and 31st December 2020. The government revised the rates to 3% for properties sold between 1st January 2021 and 31st March 2021.

The current rate of stamp duty applicable in Pune is at 6% of the market value. The breakup of the rate is as follows:

Stamp Duty: 4%

Local Body Tax: 1%

Transport Surcharge: 1%

If the owner is a woman, there is an overall discount of 1% on the stamp duty, which makes the total chargeable to be 5% of the market value.

How are Property Registration Charges Calculated in Pune?

As a buyer of house property in Pune, you must pay the property registration charges per the current market value. The following table will explain the mode of calculation of the property registration charges in Pune:

Market Value of Property (in Rs. Lacs)Property Registration Charges
Property Value up to Rs. 30,00,000 INR1% of the property value
Property Value > Rs. 30,00,000 INRCapped At Rs. 30,000 INR

Modes of Payment of Stamp Duty Charges in Pune

In Pune, the stamp duty is payable in various forms. The traditional method is by way of the non-judicial stamp paper. You may also seek service from a franking agency to pay the stamp duty in Pune. The most preferred mode of payment of stamp duty is the Government Receipt Accounting System (GRAS), which is the online mode of making the payment.

If you purchase a property from a borrowed fund in Pune, go through the home loan, its interest rates using the Home Loan EMI calculator. Make provisions for the stamp duty and property registration charges, as they are payable before registering the property in your name.