Residential properties in Mumbai

Discussion in 'India property' started by manaliguptaa, Jul 14, 2014.

  1. manaliguptaa

    manaliguptaa New Member

    What is the stamp duty and registration charge in Mumbai? On what basis is the payable amount calculated?
     
  2. SidhdhiManpa

    SidhdhiManpa New Member

    Stamp duty in residential properties in Mumbai is 5 per cent of the total cost of the property. The final amount is calculated on the basis of the agreement value, or the ready reckoner rates decided by the state government, whichever is higher. The ready reckoner rates are revised every year during the first week of January.
     
  3. rubina2013

    rubina2013 New Member

    It is 5% of the property ..
     
  4. westernheights

    westernheights New Member

    There are some more charges also involved while registration of an property and it vary from property to property.
     
  5. VibhaShettyy

    VibhaShettyy New Member

    Stamp duty comes up to 5% of the total value of the property for residential properties in Mumbai Payable amount is calculated depending upon the decided value or the ready reckoner rates fixed by the state government. As for the registration value, ready reckoner rate is 1 per cent of the value of the property, but no more than Rs 30,000.
    more info :-
     
  6. salimabaigg

    salimabaigg New Member

    Almost 5 percent of total property cost makes the stamp duty value for residential properties in Mumbai. As far as complete payable amount is concerned, it could be based on mutually decided cost or may decided by ready reckoner rates. But there is a cap of Rs 30,000 on the registration amount because sometimes, the ready reckoner rates can be very high depending upon the location, size, floor, lift availability, age of the building, among other factors.
     
  7. kavitakashyap

    kavitakashyap New Member

    5 percent of total cost of the concerned property constitute the stamp duty value for residential properties in Mumbai. Payable or finalamount to pay can be decided by mutual consent or may depend upon ready reckoner rates.
     
  8. ihpuser

    ihpuser New Member

    Dear manaliguptaa,

    As per yours concern, charges for stamp duty is 5% and registration is 1%. It is calculated on the basis on value of property shown on paper by the property owner or value of property assesed by the Govt, whichever is higher.
     

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  9. ajnara kumar

    ajnara kumar New Member

    Actually stamp duty is 5 percent in Mumbai city. Mumbai property is very costly than other city of India.
     
  10. nkhurana2003

    nkhurana2003 New Member

    It is 5% of ready reckoner (RR) rates or agreement value, whichever is higher. RR rates are expected to go up by 20% from Jan 1, 2015. So stamp duty cost will also go up in 2015.
     
  11. nkhurana2003

    nkhurana2003 New Member

    New ready reckoner rates are out, and have been hiked by more than 40%. Read article on brokergayab<DOT>com/realty-scoops-view/122-govt-increases-2015-ready-reckoner-rates-for-mumbai-rate-in-few-areas-up-by-40-
     
  12. Longterminvestor

    Longterminvestor Administrator

    In the past the Mumbai property market has been overcrowded, has the situation change?
     
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