Stamp duty rates and property registration charges depend upon several criteria across different States. In Mumbai, stamp duty is levied under the Maharashtra Stamp Duty Act. 99acres explains the easiest way to pay stamp duty online in Mumbai.

On November 28, 2018, the Maharashtra government decided to levy 1 percent extra stamp duty on properties in Mumbai. The decision was taken to fund various on-going and proposed transport infrastructure projects in the city, including metro rail projects, bus rapid transport system (BRTS), and freeways. Now, stamp duty in Mumbai is 6 percent from the earlier 5 percent, making buying real estate properties costlier.

Stamp duty rates are usually calculated on the higher value between the Ready Reckoner rate and the value of property prescribed in the buyer-seller agreement. Stamp duty charges in India vary from State to State. In Maharashtra, the stamp duty on property varies within the State if the real estate property falls within the municipal corporation limits, municipal council, and gram panchayat, while one percent is charged as registration fee.

  • Within the Municipal limits of any urban area - 6 percent of market value of property
  • Within the limits of any Municipal Council / Panchayat /Cantonment of any area within MMRDA - 4 percent of market value of property
  • Within the limits of any Gram Panchayat - 3 percent of market value of property

     

 

Stamp duty and registration charges in Mumbai

Areas in Mumbai

Stamp Duty rates in Mumbai

Registration charges in Mumbai

Within the municipal limits of any urban area

6% of market value of property

1%

Within the limits of any Municipal Council/Panchayat/Cantonment of any area within MMRDA

4% of market value of property

1%

Within the limits of any Gram Panchayat

3% of market value of property

1%

 

 Disclaimer: The above rates are derived from the official website. Last updated on June 6, 2019 

Basically, stamp duty is a type of property tax paid by the homebuyers while buying a property. Like other States in India, Maharashtra, too, levy stamp duty and registration fees on all types of properties including freehold or leasehold, land (agricultural and non-agricultural), independent houses or flats, and residential flats or commercial properties. The Maharashtra Stamp Duty Act, 1958 applies across the entire State of Maharashtra. The Act levies stamp duty on real estate properties at the rate fixed by the State government.

  • Stamp duty charges are payable at rates based upon several parameters including the market value of the property, area of the property, or various other criterion.
  • As a commercial unit includes a lot of amenities, floor space, and security features, stamp duty on commercial property is slightly higher compared to a residential property.
  • Stamp duty on land purchase is based on the locality and jurisdiction. If your land parcel falls within a municipal locality or an urban area, you need to shell higher stamp duty land tax. Likewise, if the land is located in Panchayat limits, buyer will have to pay less as compared to the urban region.

How to pay stamp duty online in Mumbai?

 

To simplify the process of property registration, several State governments have launched e-payment of stamp duty. E-stamp registration facility would help homebuyers to pay the stamp duty, registration fee or any other charges online with a few clicks. Online stamp duty payment procedure is time efficient,  transparent and simple. Homebuyers will need to follow some easy steps for pay stamp duty on property purchase.

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  • Homebuyers can log in to the Maharashtra stamp and registration department website - CLICK HERE.
  • After landing on this page, payers would need to fill up certain information regarding property and its area.
  • Once all the required details are filled, you need to choose the payment gateway. The website has been linked with all major nationalised banks.
  • Choose your bank and make payment.