Know All About Stamp Duty And Registration Charges In Hyderabad
By Investoxpert | 17 Jul 2021 | Guide
Know All About Stamp Duty And Registration Charges In Hyderabad, So, are you looking for a property? Then, to become a property owner in Hyderabad you need to pay an amount as the registration charges and stamp duty.
Telangana Government Mulls Increasing Stamp Duty, Circle Rates Of Land, Property
Homes in Hyderabad will become expensive as the Telangana Government has recently proposed an increase in stamp duty, circle rates of land and property. It will make the home buyer to spend more money to get the properties registered.
Till now, the Telangana government charges 6% of the land or total property value as the stamp duty, including the registration and transfer charges.It is proposed to generate revenues to meet the target through stamp duty and registration charges. But the proposal hasn’t been approved yet.
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Not only this, the government is also planning to increase the circle rate of land so as to fight the major revenue loss in the first three months of this financial year (April-June 2021) due to the second wave of the Coronavirus pandemic.
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Stamp Duty In Hyderabad In 2021
The residential property in Hyderabad has witnessed continuous growth, value appreciation in the last few years. Thus, those seeking to invest in the property market in the city, they have to pay stamp duty and registration charges in Hyderabad, in addition to the cost for the property. But, the charges are less in comparison to other destinations and are mentioned below.
Area in which the property falls-------------------------------Stamp duty
Corporations, special grade municipalities---------------------------4%
Other areas-------------------------------------------------------------4%
Area in which the property falls----------------------------Registration charge
Corporations, special grade municipalities---------------------------0.50%
Other areas-----------------------------------------------------0.50%
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Area in which the property falls----------------------------Transfer charge
Corporations, special grade municipalities------------------------------1.50%
Other areas---------------------------------------------------------------1.50%
Is the Stamp duty for women in Hyderabad less?
No, it isn’t! A buyer either a male or a female has to be equal amount of stamp duty. Though, in most of cities to boost women home buyers, the stamp duty and registration charges for women are lesser than men.
Subsequently, women home buyers in Hyderabad pay as much stamp duty (4% of the property value, to be specific) as their male counterpart.
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What are Property Registration Charges In Hyderabad?
Any property for sale in Hyderabad, the registration charges will be 0.5% of the property values unlike other states. In this way, Hyderabad offers the most affordable property for sale with lesser registration rates to buyers.
How Much Transfer Charge On Property Purchase In Hyderabad?
The transfer charges on the property is almost 1.5% of the total value while you get your purchased property registered at your name.
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Understand Hyderabad Stamp Duty And Registration Charge Calculation
For an example: Suppose a buyer Akshay bought a property worth Rs 50 lakhs in Hyderabad. Now, he will have to pay 4% of the Rs 50 lakhs as the stamp duty that is equal to Rs 2, 00,000 and another 0.5% of the property value as registration charge.
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Further, Akshay will also pay 1.5% of the property value as the transfer charge also.
So, Akshay’s total liability will be:
1. Stamp duty = Rs 2 lakhs
2. Registration charge = Rs 25,000
3. Transfer charge = Rs 75,000
4. Total expenditure = Rs 3 lakhs
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What Documents Are Required For Property Registration In Hyderabad?
The documents that are required to be presented at the sub-registrar’s office, to get the property register in your name are:
1. Original property documents.
2. Encumbrance certificate.
3. Demand draft / bank challan for stamp duty payment.
4. Section 32A photo form of executants and witnesses.
5. Identity proof and address proof of the buyer, seller and two witnesses.
6. Power of attorney, if applicable.
7. Pattadar passbook for agricultural land.
For more details: https://registration.telangana.gov.in/
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