Stamp Duty and Registration Charges in Mumbai

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Stamp Duty and Registration Charges in Mumbai
The stamp duty rates in Mumbai are governed under
the Maharashtra Stamp Duty Act. Stamp duty is a
crucial document that helps you legally claim
ownership over a property. Once a property is
purchased, the buyer is required to register the
property with the local governing authority and
pay the stamp duty and registration charges. In
case the buyer fails to do so, a heavy penalty
can be imposed on them by the local municipal
corporation.
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Factors That Affect Stamp Duty

• There are four major factors that affect the
  stamp duty of a property.
• 1. Age of the property
• The age of the property you're hoping to purchase
  can altogether diminish or expand the stamp duty
  you pay on it. The more established the
  development of the property is the more refund
  can be profit wear the stamp duty.
• 2. Type of property
• The sort of property alludes to the utilization
  that the property will go through. For instance,
  private property will draw in lesser stamp duty
  charges when contrasted with a business property
  in Maharashtra.

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Stamp Duty Rates In Mumbai
Ready Reckoner Rate In Mumbai

• In Mumbai, unlike many other cities in
  Maharashtra, property buyers do not need to pay
  the Local Body Tax. The stamp duty charges in
  Mumbai vary mainly according to the gender of the
  property buyer.

• The Ready Reckoner Rate (RR) is a price of
  property set by the local governing authorities.
  The RR in the different areas of Mumbai is

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