What Are The Stamp Duty & Registration Charges In Chennai ?

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What Are The Stamp Duty Registration Charges In
Chennai ?

• HonestBroker

Indias Emerging Real Estate Portal
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What are These Stamp Duties?
Stamp duty is a state levy applicable on the
registration for flats for sale in Chennai.
Typically, this is a fixed amount and varies
according to the market or agreed value of the
property and ownership status. Stamp duty rates
and registration charges differ from state to
state. Once the stamp duty is paid, the
transaction needs to be registered with the
Sub-Registrar's office.
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How To Calculate Stamp Duties and Registration
Charges?

• A property worth Rs 1 crore will attract a stamp
  duty rate of Rs 7 lakh, followed by Rs 1 lakh as
  a registration fee.
• Stamp duty 10000000 7 700000 Rs
• Registration charge 10000000 1 100000 Rs
• Now, the total cost of the Stamp Duty and
  Registration Charges are 800000 Rs

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What are the documents Requireds
To Pay Stamp Duty In Chennai

• To successfully register the property with the
  Registrar, the following documents are required-
• Signed stamp duty/receipt stating that stamp
  duty has been duly paid
• pan card
• ID Proof- Aadhar Card, PAN Card, Driving
  License, Voter ID, Passport, etc.
• two passport size photographs
• No Objection Certificate (NOC), if applicable.
• Tax Clearance Certificate/ No Dues Certificate,
  if applicable.
• Relevant property documents like sale
  deed/vehicle deed/power of attorney
• Pattadar Passbook

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Will Tamil Nadu Reduce Stamp Duty?
Industry body Confederation of Real Estate
Developers Association of India (CREDAI) has said
that it has discussed the possibility of a
reduction in stamp duty at a high-level meeting
chaired by the state Deputy Chief Minister. The
state and its economy, which was hit hard after
the 2015 floods that devastated the livelihoods
of many, suffered another setback in 2020
following the COVID-19 pandemicHence, the
industry body feels that to relieve potential
home buyers, the authorities should act soon.
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