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The southern city of Bangalore, popularly known as the ‘Silicon Valley of India’, has emerged as a start-up hub over the past few years. This has contributed to a steep property demand in Bangalore. The city tries to meet this growing demand by offering many options for all types of real estate, be it residential or commercial, for every budget segment.<\/p>\n\n\n\n
If someone is planning to buy a property in Bangalore, they must know about the additional expenses they need to pay besides the property cost. This is especially so regarding the stamp duty and registration charges<\/strong>, which can substantially impact one’s overall budget.<\/p>\n\n\n\n <\/p>\n\n\n\n Stamp tax or duty is a legal fee paid by the property buyer to the sub-registrar of the property location, as per Section 3 of the Indian Stamp Act 1899. The stamp charges are needed to be paid to validate the sales agreement. It is important to note that the state governments decide the rate of the stamp charges for their state properties.<\/p>\n\n\n\n Whereas, a registration charge is an amount paid by the property buyer for registering the property in the government records in their name. The charges are applied to properties for the registration of documents under the Registration Act, 1908.<\/p>\n\n\n\n Additional Read<\/strong>: Home Loan in Bangalore<\/a><\/p>\n\n\n\n Following are the factors which the state governments take into consideration while deciding the stamp tax for the regional properties –<\/p>\n\n\n\n <\/p>\n\n\n\n The current stamp duty rate <\/strong>on properties worth over Rs. 45 lakh is 5% of the total or registered property value. In addition, buyers must pay a 2% surcharge and 10% cess on the stamp charges. Overall, the buyer is liable to pay a 5.6% stamp duty on property<\/strong> in urban locations. For properties in a village or semi-urban area, buyers need to pay a surcharge of 3% and a total stamp tax of 5.65% for any property that’s worth over Rs. 45 lakh.<\/p>\n\n\n\n The Government of Karnataka has slashed its current stamp duty rates<\/strong> from 5% to 3% on the properties available between a price range of Rs. 21 lakh to Rs. 45 lakh. This move boosts the real estate sentiment in the State. Stamp duty on property<\/strong> worth less than Rs. 20 lakh stands at 2% of the valuation of the property.<\/p>\n\n\n\n It is important to note that the stamp tax in Bangalore is no different for male, female, or joint ventures.<\/p>\n\n\n\n <\/p>\n\n\n\n For charges related to the registration of a property, the Government of Karnataka has not recently made any amendments as they did for stamp tax.<\/p>\n\n\n\n A property buyer in Bangalore must pay 1% of the property value as the registration charges and the stamp tax.<\/p>\n\n\n\n Property registration charges are equal and compulsory for all kinds of properties. However, for first-time residential property buyers, a rebate is available on the property registration charge.<\/p>\n\n\n\n The detailed category-wise information on stamp tax and charges for property registration in Bangalore in 2022 is given below:<\/p>\n\n\n\nStamp Duty and Registration Charges<\/strong><\/h2>\n\n\n\n
List of Factors Affecting the Amount of Stamp Tax<\/strong><\/h2>\n\n\n\n
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Stamp Duty Rates on Properties in Bangalore?<\/strong><\/h2>\n\n\n\n
Property Registration Charges in Bangalore?<\/strong><\/h2>\n\n\n\n