Stamp duty is a tax on property to be levied by the state government and registration is the fee that is paid for registering the property on your behalf. To avoid property disputes it is important to keep a legal record of by paying such charges. So in case, any problem arises in the future it can be used as evidence.
If you want to buy a home in Delhi and still not aware of the registration and stamp duty charges on the property then this blog will help you.
Buying a property Unity The Amaryllis in Delhi must be registered under the 1908 Registration Act. Payment of the stamp fees is the part it. Further, you can pay through Account-to-Account Transfer, e-Wallet Registration Account, NEFT/RTGS, and Net Banking are the mode of payment that are available in Delhi for stamp duty payment which indeed makes the process easy.
Stamp duty charges for property in Delhi
Stamp Duty for commercial property is usually higher than on residential property and it is also based on the property value. An older property receives a lower stamp duty comparison to the newer ones and the prices of the property impact a lot in paying stamp duty.
At present stamp duty charges are 5.5 % for male home buyers and 3.5% for women home buyers. To escalate the women empowerment Delhi govt. has reduced stamp duty charges for women and giving them chance to enjoy homeownership.
Registration charges for property in Delhi
Similarly, all buyers in Delhi must pay 1 % of the deal value along with the stamp duty. While a male home buyer has to pay 7% registration charges and the female home buyers have to pay 5% during the registration of the property.