All About Registration And Stamp Duty Charges In Thane
Buying a property is a wonderful experience and often a dream come true for many. Sprawling luxury homes in Thane are a perfect investment for people looking to balance an active work life with tranquil evenings in a comfortable setting.
Once you have purchased your residential property in Thane, it is essential to register the same. Registering a property recognises you as the legal owner and prevents any issues in the future. Along with registration charges, homeowners also need to pay stamp duty to the state. These two property charges are crucial and must be done instantly following the property purchase to legally possess it.
Here, we cover the applicable charges for a property in Thane and other important details .
Stamp Duty and Registration Charges in Thane
| Gender of the Owner | Stamp Duty Rates | Property Registration Charges |
| Male | 7 per cent (inclusive of metro cess and local body tax) |
Property value INR 30 Lakh and above: INR 30,000 Property value below INR 30 Lakh: 1 per cent of property value |
| Female | 6 per cent (inclusive of metro cess and local body tax) |
Property value INR 30 Lakh and above: INR 30,000 Property value below INR 30 Lakh: 1 per cent of property value |
| Joint (Male + Female) | 7 per cent (inclusive of metro cess and local body tax) |
Property value INR 30 Lakh and above: INR 30,000 Property value below INR 30 Lakh: 1 per cent of property value |
Factors that Influence Stamp Duty and Registration Charges in Thane
Stamp duty and registration charges may differ for homeowners. For instance, a male owner of a 2 BHK property in Thane will pay more tax than a female owner. There are other factors as well that may influence these rates as detailed below.
Gender of the Owner
The stamp duty is different for men and women. Men pay a stamp duty charge of 7 percent while women are charged 6 percent. In the case of joint couples, the charges are 7 percent for male-female and male-male ownership, and 6 percent for a joint female ownership.
Age of the Property
A newly constructed home will incur higher charges than an old flat that is resold. When purchasing a new property, be sure to only opt for a reputed real estate developer in Thane such as Ace Realty who meets all legal standards and obligations while ensuring luxurious and premium-feel homes.
Type of Property
The nature of the use for which the property is purchased also impacts the rate. Residential apartments in Thane incur a lower rate as compared to commercial properties.
Property Location
Based on the circle rate of the area, also known as the Ready Reckoner Rate in Thane, the stamp duty and registration charge may differ. Premium areas command a higher rate than others.
Conclusion
Stamp duty and registration are critical processes to guarantee ownership of a property and must be completed at the earliest. To ensure you meet all legal guidelines, only purchase property from a recognised builder and developer in Thane such as Ace Realty.
