Stamp Duty & Registration Charges in Rajasthan

Stamp duty is a specific tax that is imposed on properties. When an individual purchases a single property or document from a third party or sells his property to a third party, this type of tax is levied on the property transaction. Stamp duty and property registration charges are not the same everywhere in India, varying state-wise.

Current financial year Stamp Duty in Jaipur

Stamp duty and registry charges in Rajasthan are different from other states of India. Rajasthan Stamp Act regulates the overall stamp duty in Rajasthan. Rajasthan Stamp Act 1908 was passed to codify several earlier Acts. And offer a centralised system of Stamp Duty fees in Rajasthan.

Stamp Duty and Registration charges on different types of deed Residential property contract

The stamp duty applicable on the contract of sale of residential property between the builder and the homebuyer is 3% of the property's value and 0.5% after exemption.

Stamp duty on Property sale

Stamp duty levied on the sale of property along with the document for possession agreement is 5% of the entire property, and the value after rebate is 6%.

Document for agreement

When a homebuyer is a woman and she belongs to SC/ST/BPL category, a document for agreement of possession is levied at 6% of the property value on sale. Here the post rebate value is 4%

Possession agreement

Stamp duty is 6% of the property's value on sale; when a homebuyer is a woman, she is not under SC/ST/BPL category. The applicable stamp duty after the exemption is 5%.

Order of change

Change of land use order is levied at 6% of the property value, covered explicitly under the Rajasthan Urban Area Rules, 2010, and is 6% of the minimum land use amount after exemption.

Document for agreement

The stamp duty for men on sale with possession agreement documents is 6% of the property value and 6% after exemption.

Certificate

Stamp duty for persons with 40% or above disabilities is 6% of the total property value/prevailing market value of the property and 5% after exemption.

Gift

Stamp duty levied on the gift to mother, father, sister, brother, husband, offspring, etc., is 6% of the property value and 2.5% after exemption.

Division of land

Stamp duty on land division is 6% of the property value and 3% after exemption.

Deed of gift

Gift deed stamp duty in Rajasthan in respect of residential property managed by any person on behalf of the spouse of the martyr in Rajasthan, or if the wife of the martyr person is not alive, in that case, on behalf of the children of the martyr is 6% of market value.

How can we calculate Stamp Duty for different types of properties?

You can calculate stamp duty for different properties based on the ready reckoner rate, market value, circle rate, or the consideration value of the property. Consideration value refers to the total sum of money associated with any property transaction.

For example, if the value of a property is 50 lakh, the stamp duty will be calculated as:

Stamp duty =? 50 Lakhs x 3% = Rs. 1.5 Lakhs

Registration charges =? 50 Lakhs x 1% = Rs. 50,000

Labour Cess =? 1.5 Lakhs x 20% = Rs. 30,000

Apart from this, you can visit any property registration website and calculate any property.

• Select your state name i. e. Rajasthan.

• Enter your specific property value and gender.

• Submit other required details.

• The stamp duty on the particular product will be displayed on your computer screen,

Any tax benefits on Stamp Duty from the government

Yes, stamp duty has tax benefits from the government. Section 80C of the Income Tax Act enables property owners to take the privilege of tax benefits on stamp duty and registration. The highest tax benefit allowed for property owners is Rs. 1,50,000.

How can we pay Stamp Duty online?

You can pay stamp duty in Rajasthan both online and offline. To go to the online stamp duty payment process, you need to log on to the specific property registration e-GRAS website and then pay the stamp duty fees using the payment gateway of your selected bank. You can also use your net banking and payment card, such as credit card or debit card options provided by your respective bank, to pay the stamp duty.

How much time do we have to pay stamp duty, and what are the penalties we have to pay in case of delay?

You have to pay your stamp duty in full within 30 days of the transaction of your property. In case of delay in payment of stamp duty on your property, you will have to pay a penalty of 2% per month, which can be up to 200% of the stamp duty deficit.

What is the document required to pay Stamp Duty?

Following are some of the documents required to pay stamp duty:

• Transfer instruments,

• Reconveyance of the mortgaged property.

• Gift deed

• Deed of partition

• Exchange deed

• Licence agreement

• Tenancy agreement

• Power of attorneys

• Lease deeds

What happens when you have not paid stamp duty?

In Rajasthan, if you have not paid your stamp duty, in that case, you will have to pay 8% to 20% of the actual stamp duty as a penalty or face jail.

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