Stamp Duty and Property Registration Charges in Kolkata

Stamp Duty and Registration Charges in Kolkata

One of the inherent subjects when buying a house of your own is Stamp Duty. This can be considered an income for government treasure imposed on each property a citizen buys. There are revised list floated for house, plot and flat registration charges in Kolkata for purchase. 

What is Stamp Duty in Kolkata?

In Kolkata stamp duty, the rate depends majorly on the property’s market value along with the locality where the site is located. As per the latest report, the State Government has made a 2% reduction in stamp duty on properties. Including this, the 10% reduction in the circle rates of the property is also in effect till September 2022. The bill was proposed during the State’s Budget announcement for the current fiscal year 2021-22 which was effectively sanctioned by the West Bengal Government. 

For better knowledge, one may avail of the rebate if they have accomplished the registration charges in Kolkata on or before December 31, 2021. As per current stamp duty rates on property, followed by the table, can be referred to: 

Location of property Above Rs 40 lakh Less than Rs 25 lakh
Corporation (Kolkata/Howrah) area 5 Percentage 4 Percentage
Municipal corporation/Municipality/Notified area 5 Percentage 4 Percentage
Areas not included in the above 4 Percentage 3 Percentage

Why Does Stamp Duty Differ for Each Locality in Kolkata?

As per the West Bengal government, the stamp duty in Kolkata now has revised rates. Properties ranging up to Rs. 25 lakhs will have a 4% stamp duty value of property in the Kolkata metropolitan area. Properties ranging from Rs. 40 lakhs or above will have a 5% of stamp duty value of properties. Although, for Panchayat areas, the Kolkata stamp duty on property will be imposed at 3% for Rs. 25 lakhs. Or else, the rate may hike up to 4% for Rs. 40 lakhs properties. 

What Are the Property Registration Charges in Kolkata?

The registration rates in Kolkata for the property are stated as 1% of the wholesome property value. For in-depth knowledge, the 1% rate is calculated based on the stamp duty value of property regardless of the transaction made from the buyer to the seller. This charge is essential because of the security the owner may create against any future uncertainties or disputes regarding ownership or authorities in their name as proof.

Name of Article Rate of Stamp Duty Rate of Registration Fee
4 Affidavit Rs. 10 Rs.7
5 Agreement If linked to an immovable property’s sale The same as conveyance for market value (No.23) Rs.7
If linked to an agreement providing ownership to a developer, by any name for construction, or sale of, or transfer of, any immovable property with the property’s market value to be less than Rs.30 lakh   Rs. 5,000   Rs.7
In case of the property’s market value is exceeds Rs.30 lakh but lower than Rs.60 lakhs Rs.7,000 Rs.7
In case of the property’s market value is higher than Rs.60 lakh but lower than Rs.1 crore Rs.10,000 Rs.7
In case of the property’s market value is higher than Rs.1 crore but lower than Rs.1.5 crores Rs.20,000 Rs.7
In case of the property’s market value is higher than Rs.1.5 crore but lower than Rs.3 crores Rs.40,000 Rs.7
In case of the property’s market value is higher than Rs. 3 crores Rs.75,000 Rs.7

Kolkata Stamp Duty on Property in West Bengal

The below table mentions the rate of Kolkata stamp duty on property under various conditions. It will also be applied for house registration charges: 

Location of the Property For Property less than Rs.1 Crore For Property more than Rs.1 Crore
Kolkata 4 Percentage 5 Percentage
Howrah 4 Percentage 5 Percentage
Durgapur 4 Percentage 5 Percentage
Siliguri 4 Percentage 5 Percentage
Kharagpur 4 Percentage 5 Percentage

Stamp Duty Charges in Other States

State Stamp Duty Charges
Mumbai Stamp Duty in Mumbai
Goa Stamp Duty in Goa
Kerala Stamp Duty in Kerala
Madhya Pradesh Stamp Duty in Madhya Pradesh
Jammu & Kashmir Stamp Duty in Jammu & Kashmir
Noida Stamp Duty in Noida
Rajasthan Stamp Duty in Rajasthan
Chhattisgarh Stamp Duty in Chhattisgarh
Bangalore Stamp Duty in Bangalore
Gujarat Stamp Duty in Gujarat
Jharkhand Stamp Duty in Jharkhand

How to Pay Kolkata Stamp Duty on Property?

There are two methods through which stamp duty in Kolkata can be paid: online and offline. 

Steps to Pay Stamp Duty in Kolkata Online

The easiest way to pay the stamp duty in Kolkata is by performing the steps below for online processing:

  • Go to the official portal of West Bengal registration for e-Payment of Stamp Duty on properties.
  • Enter the query number as asked in the dialogue box along with the query year.
  • Click on the button ‘Check Query Status.’
  • Finally, click on ‘Proceed for e-Payment’ to complete the e-payment processing of the stamp duty in West Bengal.

Steps to Pay Stamp Duty in Kolkata Offline

The simple way to access the payment processing for stamp duty in Kolkata is given below.

  • Purchasing stamp paper: The most common and convenient method of paying stamp duty in Goa is to purchase stamp paper. A stamped document with all the facts about the property transaction can be purchased from an authorised individual. You must submit the stamp paper to the state’s registration department’s sub-registrar four months after issuance. Both parties, the seller and the buyer, must sign the stamp paper.
  • Using franking: A property agreement is printed on plain paper and signed by the parties. The agreement is subsequently presented to the authorised bank, which documents it further using a franking machine. The bank receives the stamp duty payments. In addition, banks incur franking fees, which are typically 0.1% of the property value.
  • E-stamping: Stamp duty payments can be made online at the Document Registration website in Goa. The stamp duty flat registration rates in Kolkata can be calculated on the website and paid with a net banking account, debit card, or credit card.

Documents Required for Stamp Duty in Kolkata

The documentation required for stamp duty on properties in Kolkata may have the following while being processed: 

  • An identity proof such as an Aadhaar card, voter card, PAN card, passport, driving licence etc. of the parties.
  •  Assessment slips with market value and charge-ability of stamp duty and registration fees. 
  • PAN card or duly filled out form 60 together with identity proof and address proof of the parties.

Documents Required for Property Registration in Kolkata

The following are the documents needed for the house/flat/plot registration charges of property in Kolkata:

1. Assessment slip containing market value and charges of stamp duty & registration fees.

2. The parties’ identity proof like eAadhaar card/voter card/PAN card/passport/driving licence etc.

3. PAN card or duly filled form 60 together with identity proof & address proof of the parties.

4. Particulars of stamp duty and registration fee payment.

5. Principal document(s) when the present document is supplementary to such principal document(s).

6. Permission from the competent authority in case of transfer of riot of any Schedule Tribe person to a Non-Schedule Tribe person.

Gift Deed Stamp Duty in Kolkata

The West Benngal stamp duty zones are divided into 3 categories that determines where the property is located and what registration rate on property in Kolkata will be imposed. In this, gift deed is another concern that gets calculated in the registration rate of property in Kolkata in the registrar office. Let us at the circumstances when gift deed stamp duty in Kolkata are charged:

In the case of Municipal localities of West Bengal, the gift deel stamp duty in Kolkata for family members is 0.5% and for others, it is 0.6%. of the government market value of the property.
In the case of Panchayat localities in West Bengal, the gift deel stamp duty in Kolkata for family members is rated at 0.5% and for others, it is 0.5% of the government market value.

End Thoughts

The complete article provides information regarding the updated stamp duty rate on Kolkata properties. After the new announcement, the current buyers will follow the same procedure mentioned above. Some buyers who have not yet ensured their property registration and stamp duty payment may get the rebate till September of this year.

FAQ’s about Stamp Duty in Kolkata

Q1. What are the flat registration charges in Kolkata?

The flat registration charges are defined under different scenarios: 

  • Corporation (Kolkata/Howrah) area 5%(abv. Rs. 40 lakhs), 4% (Below 25 lakhs)
  • Municipal corporation/Municipality/Notified area 5% (abv. Rs. 40 lakhs), 4%(Below 25 lakhs)
  • Areas not included in the above 4% (abv. Rs. 40 lakhs), 3% (Below 25 lakhs)

Q2. Which is the most expensive localities in Kolkata?

Areas such as Ballygunge, Baltimore and Alipore are the poshest localities in Kolkata to buy a property.

Q3. Why pay stamp duty for purchasing a property?

Stamp Duty tax is an obligation that has to be paid while purchasing a property of value. It is a mandatory fee to the central government by the house owner directly.

Q4. When to claim stamp duty refund?

Stamp Duty can be claimed for a refund when the homeowner has bought a new property that is their permanent new settlement without selling out the previous home. But the last residence has to be sold within 3 years of tenure for a stamp duty refund.

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