Stamp Duty & Registration Charges for Apartments in Kolkata
Buyers of apartments in Kolkata should know that when purchasing a property, they are not only paying for the apartment. Along with it, also comes other costs like stamp duty and registration charges to be paid to the government to get ownership and protect the property from any kind of fraud.
Stamp duty and registration fees are an integral part of the flat-buying procedure and an important source of government revenue. The West Bengal Government (WB) has extended the stamp duty and tax relief in the 2023 State Budget until 30 September 2023. So, if you are searching for a flat in North Kolkata, continue reading to learn about Kolkata’s Stamp Duty and Registration Fees.
Do Stamp Duties Differ by Area in Kolkata?
In light of the new announcement, stamp duty on real estate in Kolkata’s metropolitan area is 4% for apartments in Kolkata valued below Rs 25 Lakhs and 5% for properties valued at Rs 40 Lakhs and above. On the other hand, real estate in the Panchayat area is subjected to stamp duty of 3% if its value is less than Rs.25 Lakhs and 4% if its value is more than Rs.40 Lakhs.
What Is the Current Stamp Duty Rate in Kolkata?
In Kolkata, the stamp duty rate is determined by the property’s market rate and the residential area. The West Bengal government recently extended its 2% exemption in stamp duty rate and 10% on property tax until September 30, 2023. This scheme has been included in the state budget for the financial year 2023-24. You will be eligible for a refund if you complete the registration process by September 30, 2023.
According to the announcement, the following are the stamp duty rates in Kolkata:
Location of Residential area
Above Rs 40 Lakhs
Less than Rs 25 Lakhs
Corporation (Kolkata/Howrah) area
Municipal corporation/Municipality/Notified area
Secure Investment for a Peaceful Life-
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