A Complete Guide on Stamp Duty and Registration Charges in Thane

In recent decades, Thane has ascended as a premier real estate destination. Positioned near Mumbai’s commercial hub, it provides a serene and peaceful lifestyle. Thane exceeds expectations, whether you’re seeking commercial or residential properties. Yet, to maximize the returns on your Thane property investment, meticulous attention to the purchasing process is crucial. Among the pivotal steps in any real estate acquisition is the payment of stamp duty charges and subsequent property registration. The same legal protocols and compliances hold true for property transactions in Thane.

To help you buy real estate in the district seamlessly, here is a handy guide on the stamp duty and registration charges in Thane.

What are the Stamp Duty and Registration Charges in Thane as of 2023? 

In India, the law mandates that every State Government levies a tax on property transactions known as stamp duty. This, along with property registration, establishes an official record of the transfer and the new property owners. Registering the property not only legitimizes you as the rightful owner but also provides protection in case of any disputes.

Both processes, paying the stamp duty and registering the property, must be carried out at the Thane sub-registrar’s office. In Thane, the property registration process is only considered complete when both the stamp duty and registration charges are settled. For instance, if you’re interested in premium residential properties like ASG Developers’ Sheth Vasant Lawns, to complete the purchase of a luxurious flat, you’ll need to register the property by paying the stamp duty and registration fees.

The stamp duty and registration charges in Thane are as follows:

Male: If you are a male owner of property in Thane, the stamp duty applicable will be 7%. While you will be levied 5% stamp duty, you will also have to pay 1% Local Body Tax and 1% Metro Cess. Thane property registration fees for real estate valued at more than Rs 30 lakh is Rs 30,000. If the property is valued at an amount below Rs 30 lakh, then the registration fees are 1% of the property value.

Female: Stamp duty charges in Thane for women property owners are at 6%. While the stamp duty rate stands at 4%, you have to pay an added 1% Local Body Tax and 1% Metro Cess. Similarly, the registration fee for real estate valued at more than Rs 30 lakh is Rs 30,000. If the property is valued at an amount below Rs 30 lakh, then the registration fees are 1% of the property value.

Joint Ownership (Male and Female): If you co-own a property in Thane with a member of the opposite gender, then the stamp duty rate is 7%. While you will be levied 5% stamp duty, you will also have to pay 1% Local Body Tax and 1% Metro Cess. The registration fee for real estate valued at more than Rs 30 lakh is Rs 30,000. If the property is valued at an amount below Rs 30 lakh, then the registration fees are 1% of the property value.

Joint Ownership (Male and Male): If you, as a man, co-own property in Thane with another man, then the stamp duty rate stands at 7%. While you will be levied 5% stamp duty, you will also have to pay 1% Local Body Tax and 1% Metro Cess. The registration fee for real estate valued at more than Rs 30 lakh is Rs 30,000. If the property is valued at an amount below Rs 30 lakh, then the registration fees are 1% of the property value.

Joint Ownership (Female and Female): If you, as a woman, co-won property in Thane with another woman, then the stamp duty rate will stand at 6%. While the stamp duty rate stands at 4%, you have to pay an added 1% Local Body Tax and 1% Metro Cess. The registration fee for real estate valued at more than Rs 30 lakh is Rs 30,000. If the property is valued at an amount below Rs 30 lakh, then the registration fees are 1% of the property value.

Now that you’re more aware of the stamp duty and registration fees in Thane, you can pay the same and ensure that your purchase of property is completed seamlessly.

FAQs

Overall, the stamp duty on property in Thane is 7% for men and 6% for women.

If you want to calculate the stamp duty and registration charges for residential property in Thane, let’s presume you have bought a flat for Rs 50 lakh. At a rate of 5%, you will have to pay Rs. 2.5 lakh as stamp duty. Additionally, you will have to pay 1% of LBT amounting to Rs 50,000 and 1% Metro Cess amounting to Rs, 50,000. Lastly, you will have to pay registration fees worth Rs 30,000.

You can pay stamp duty online in Thane by visiting the GRAS website at https://gras.mahakosh.gov.in.

Leave a Reply

Your email address will not be published. Required fields are marked *

4 × 4 =