Stamp Duty and Registration in Mumbai

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Mumbai is a city of dreams, and owning a property
in this dreamland is a dream of many. You can buy
your home with the help of a Real Estate Agent in
Mumbai. Considering the COVID-19 hit, the
Maharashtra government has reduced stamp duty on
properties from 5 to 2 until December 31, 2020.
After December 2020, the government will imply a
3 stamp duty on residential properties until
March 31, 2021. 
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You must know that Stamp duty rates and property
registration charges are not the
straight-forwarded charges. There are different
criteria across different States. On a specific
term, in Mumbai, stamp duty is applicable under
the Maharashtra Stamp Duty Act. Lets understand
what all it takes to mark the current stamp duty
and registration charges in Mumbai. Stamp duty
rate in Mumbai The stamp duty rate is calculated
on the basis of the higher value between the
Ready Reckoner rate and the value of property
prescribed in the buyer-seller agreement. In
Maharashtra, the stamp duty on the property is
dependent on different categories within the
municipal corporation limits, municipal council,
and gram panchayat, and another one percent is
charged as registration fee. Stamp duty is a
property tax, that gets paid by home buyers while
buying a property. The Maharashtra Stamp Duty
Act, 1958 is applicable across the entire State
of Maharashtra. The stamp duty charges are
payable at rates, which are based upon different
parameters consisting of the market value of the
property, area of the property, or various other
criteria.
Conclusion Finding it difficult to pay the stamp
duty and registration process? Dont worry you
should get in touch Manish Ved Estate the best
Real Estate Agent in Borivali West. And let the
process of government processes to be taken care
of by them, so you can enjoy your time in your
new home. Also, if you want to get a house on
rent in Borivali west, Manish Ved Estate gives
you multiple options to choose from. Give us a
call today!
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Get In Touch
Address - Opp Pheonix Hospital Office No. 35,
1st Floor, BMC Retail Market, off, New Link Rd,
Chikoowadi, Borivali, Mumbai, Maharashtra
400092 Website - https//www.manishved.in/ Mobi
le No - 9820541849