95. Property Registration Fee in Mumbai India
Q: Hi, Im an OCI holder and was possibly looking into purchasing a flat in Mumbai. In addition to the purchase cost of the Flat what other charges would I incur, such as stamp duty etc ? S B A. Stamp duty and Registration fee needs to be paid when registering property in India. The Stamp duty in the State of Maharashtra I believe is 10% on the value of the property. The registration fee depends on the value of the property. As a rough guideline, for Maharashtra Property Value: 1. Up to Rs.1.00 Lakh - Nil. 2. Rs.1.00 Lakh to Rs.2.5 Lakhs - 0.5 % of Value. 3. Rs.2.5 Lakhs to Rs.5.00 Lakhs - Rs.1,250/- + 3% of value above Rs.2.5 Lakhs. 4. Rs.5.00 Lakhs to Rs.10.00 Lakhs - Rs.8,750/- + 6% of value above Rs.5.00 Lakhs. 5. Value exceeding Rs.10.00 Lakhs - Rs.38.750/- plus 8% of value above Rs.10.00 Lakhs. Note: Stamp duty & Registration fee can be changed by the authorities at anytime.
NRI - OCI - PIO Guide & Information
95. Property Registration Fee in
Mumbai India
Q: Hi, Im an OCI holder and was possibly looking into purchasing a flat in Mumbai. In addition to the purchase cost of the Flat what other charges would I incur, such as stamp duty etc ? S B A. Stamp duty and Registration fee needs to be paid when registering property in India. The Stamp duty in the State of Maharashtra I believe is 10% on the value of the property. The registration fee depends on the value of the property. As a rough guideline, for Maharashtra Property Value: 1. Up to Rs.1.00 Lakh - Nil. 2. Rs.1.00 Lakh to Rs.2.5 Lakhs - 0.5 % of Value. 3. Rs.2.5 Lakhs to Rs.5.00 Lakhs - Rs.1,250/- + 3% of value above Rs.2.5 Lakhs. 4. Rs.5.00 Lakhs to Rs.10.00 Lakhs - Rs.8,750/- + 6% of value above Rs.5.00 Lakhs. 5. Value exceeding Rs.10.00 Lakhs - Rs.38.750/- plus 8% of value above Rs.10.00 Lakhs.
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