In India, governments in each state collect a tax for transferring a piece of property. This tax is called stamp duty. As is the case with the other regions and different states in India, the same rule also applies to Thane in Maharashtra.
Stamp duty and registration charges in Thane
If you are planning to invest in a piece of property or buy a home in Thane, you might want to know the existing stamp duty rates. At present, buyers must note the revision in the method to calculate stamp duty rates.
The Government has diminished it by a margin of up to 3 percent on August 27, 2020. The same will remain effective until the conclusion of March 2021.
Regardless of a buyer’s gender or the number of buyers who belong to either gender, the stamp duty rates until December 31, 2020 will remain fixed at 3%. Out of it 2% will be for stamp duty and 1% will be for local body tax.
However, the stamp duty rate will increase by 1% to become 4% from January 2021. It will remain unchanged until March 2021. Speaking of the breakdown for this 4%, 3% will be for stamp duty, and 1% will be for local body tax.
You can accurately calculate the price of your home by considering this change.
Hurry up! Book your flat or dream home now!
From the above, it stands out that the stamp duty charges will increase from January 2021. Therefore, if you are planning to buy a flat or home in Pune under a project of the Regency Group, it is advisable that you book for it by December 30, 2020. This way, you will pay 1% less on stamp duty charges.