PGN Property

Tag: Stamp Duty

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Parking

Is it necessary to add a parking place in the sale deed? Will it increase the stamp duty?

When we book an under-construction property from builder, developer or land’s owner. The parking description mentions in Sale Agreement. The parking descriptions are:

  • Type of Parking: Open or covered
  • Number of parking
  • Level of parking: Slit or basement

Once the property is ready for possession, the developer issue an allotment letter. The allotment letter consists of parking description including parking number

In most cases, when we buy a new property from builder or developer. The sale deed consists of parking number, number of parking, type of parking (covered or open) and level of parking (Slit or basement)

Refer to below sale deed which we bought from BRIGADE Property in 2010, we highlighted the parking details in below image

In 2023, when we re-sell the above property, we included parking description. Refer to below image

The government guidance value for covered parking is Rs.2.5 lakhs per parking. Refer to guidance value in below image

In most sale deed, parking cost included in buying price. If you buy a flat more than guidance value, adding a parking may not increase stamp duty. If you buy a flat less than guidance value, adding a parking may increase the stamp duty

We strongly recommend you to add Parking in sale deed because it increases the valuation when you resell or avail loan from bank

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Stamp Duty

How much will be the stamp duty charges in Bangalore to register Rs 40 lakh apartment?

The Stamp Duty is different if you buy new flat from builder or resale flat from individual

For the consideration value of Rs. 40 lakh, below are the Stamp Duty and other charges for buying a new flat from builder: (Below % is based on the consideration value)

  • Stamp Duty & Surcharge (3.06%) = 1,22,400
  • Registration fee: (1%) = 40,000
  • Cess (0.3%) = 12,000
  • Scanning = Rs. 35 per page (approx Rs. 800)
  • Affidavit = 100

Total Stamp Duty & other charges are Rs, 1,75,300

For the consideration value of Rs. 40 lakh, below are the Stamp Duty and other charges for buying resale flat from individual. (Below % is based on the consideration value)

  • Stamp Duty & Surcharge (5.1%) = 2,40,000
  • Registration fee: (1%) = 40,000
  • Cess (0.5%) = 20,000
  • Scanning = Rs.35 per page (approx Rs. 800)
  • Affidavit = 100

Total Stamp Duty & other charges are Rs, 2,64,900

We provide end-to-end assistance to pay government charges and property registration, To opt for our service, please write to us pgnproperties@gmail.com or Whatsapp to +91 -97424-79020.

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Stamp Duty

What is the Stamp Duty for Release Deed in Karnataka?

Learn about the stamp duty for a release deed in Karnataka. This blog explains the applicable rates and key considerations to ensure a smooth property transaction process

The Stamp Duty is Rs. 5000 for release Deed in Karnataka

Below is the cost break for the Release Deed within family members

  • Stamp Duty: 5000
  • Registration Fee: Rs. 1000
  • Scanning Rs. 35 per page (approx Rs. 450)

The total government charge is Rs. 6450/-

Refer to the below transaction receipt for your reference

Miscellaneous expense:

  • Document paper for printing Release Deed: Rs. 50 (Approx 10 paper, Each Rs, 5)
  • Printing cost Rs. 20
  • Agent fee in sub-registrar office for assisting registration: Rs. 3000 (approx)

The total cost for release deed registration is Rs. 9,650 including stamp duty, Registration fee, paper, printing and agent cost if you opt through agent

We provide end-to-end assistance in registering the Release Deed. To opt for our service, please write to us pgnproperties@gmail.com or Whatsapp to + 9 1 – 97424 79020

Thank you for reading…

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Stamp Duty

How can I pay stamp duty and registration online in Karnataka?

The Stamp Duty and Registration fee for immovable property registration are paid online on Kaveri Online Services, here is the weblink https://kaveri.karnataka.gov.in/landing-page

The process is, we need to submit an application + usually the application approved within 2-3 working days + pay the stamp duty & registration fee + Book a slot for registration 

Categories
Stamp Duty

How do I generate a stamp duty & registration challan for property registration in Bangalore?

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Stamp Duty and Registration fees are paid online on Kaveri Online Service. Here is the website link https://kaveri.karnataka.gov.in/landing-page

To register a property in Bangalore, you must submit an application on Kaveri Online Services, usually the application is approved within 2–3 working days, Make the payment of Stamp Duty & Registration and Book a slot for registration

We assist with property registration, please write to us pgnproperties@gmail.com or Whatsapp to +91-9742479020