Here many people never about
the stamp duty charge taken by the government while buying a house in Bangalore where it takes more than 5% of the
total cost of the property.
Here in this article what is
actual cost of the stamp duty and how to calculate the stamp duty, what will be
the effect if the price of the stamp duty charge will be less. How stamp duty
charge can be less while buying a flat or house in
Bangalore.
Stamp Duty Charge
Stamp duty is an important for
source of revenue to the state government.
So before buying a house in Bangalore you
have to gain knowledge on this charges. It is a type of tax that is taken by
the state government which is based on the market value.
- While getting a house and flat for sale in Bangalore you have to pay this amount of tax to the respective authority.
- When you buy a house or flat you need to first register the ownership document on the respective government record. This record is register in the act 1908. While you get a house for sale in Bangalore first of all you need to pay some percentage of amount to the authorities.
- This all stamp duty charge adds in the overall cost while you buy a house or flat in any city. But Karnataka Government has reduced the percentage which is 5% to 3% on a range of Rupees 21Lakhs to 35Lakhs.
How to calculate Stamp Duty Charge
in Bangalore?
- First you have to login into the State Online Site Portal of Revenue Department
- Then you have to upload the related document of the property which you are going to buy a house or flat.
- Then you will have to fill the property detail such as region type like municipal corporation, town panchayat or gram panchayat.
After given all proper detail of
the property then in last you can get the amount. And be sure that you have to
also know about the proper detail about the property.
How E-stamping is helpful?
In Bangalore while you buy a house of flat, this city also has
electronic stamping or e-stamping which is mandatory along with physical
stamping. Both the procedure is made through the authorities in various
transaction.
And this e-stamping is easier
process than franking as here all related document are saved properly in a
digital platform for verification process. Because here there will be provide a
unique certificate number where to fraud in real estate sector.
Can stamp duty reduction reduce the
price of the property?
Suppose you buy a flat or house in Bangalore
which cost around Rupees 40Lakhs and the stamp duty charge around 5% which cos
around Rupees 2Lakhs. If the government make it 3% then the stamp cost will
around Rupees 1.20Lakhs so here, you can save more than 75 thousand.
This make clear that if you buy a house or flat in Bangalore the overall cost will be down
if the stamp duty charge become down.
Cifiyah is a real estate site where
you can find this all types detail before getting a house for sale in Bangalore here all types of expenses are clearly
mentioned in the sites.
