Stamp Duty Calculator
Stamp duty is indispensable when buying your house. This expense is generally left out by the banks you procure a home loan from. It is your responsibility to make sure that it is paid. A stamp duty calculator by Kotak Mahindra Bank helps you find out the exact amount to pay as stamp duty. Before you avail of a loan, use this mortgage stamp duty calculator to know the amount you must pay against the cost of your home.
Stamp duty can be defined as a tax that is imposed by the state government on the sale of a property or property ownership. Payment of stamp duty must be done in full and on time as it incurs fines. It is important because it acts as proof of ownership. The payment is recorded on stamp paper after the stamp duty and registration charges are paid. Using Kotak Mahindra Bank’s property stamp duty calculator, find out the amount to be paid as your home loan amount excludes it.
The stamp duty on property is different in each state. Using Kotak Mahindra Bank's property Stamp Duty Calculator, you can calculate the amount you are liable to pay. There are several factors that affect the amount of stamp duty on property like gender, type of property, the intended use of the property, location, etc. If you buy a second home, a surcharge of 3% is payable on the standard stamp duty. Find out the percent of stamp duty charged in your state below:
| States | Stamp Duty Rates |
|---|---|
Andhra Pradesh |
5% |
Chhattisgarh |
Males- 7% |
Gujarat |
4.9% |
Haryana |
Males- 7% Females- 5% |
Karnataka |
5% (Consideration above 35 lakh) 3%(Consideration between 21-35 lakh) 2%(Consideration less than 20 lakh) |
Kerala |
8% |
Madhya Pradesh |
9.5% |
Maharashtra |
5% |
Odisha |
Males- 5% Females- 4% |
Punjab |
Males- 7% Females- 5% |
Rajasthan |
Males- 6% Females- 5% |
Tamil Nadu |
7% |
Telangana |
5% |
Uttar Pradesh |
7% |
Uttrakhand |
5% |
West Bengal |
Upto 40 lakh-7% Above 40 lakh-8% |
There are various factors that determine the stamp duty charges you need to pay. The fact that this amount is excluded from your home loan amount makes it very crucial for you to know how much stamp duty you need to pay. Gender and location are some of the main factors that stamp duty charges depend on. Here is a list of other factors that determine the stamp duty on property:
You can pay stamp duty charges in the following ways:
To pay stamp duty using this method you need to submit your documents and agreement details to the bank or franking agency with the stamp duty charges. You should know that there are service charges you will have to pay for this and not all banks conduct franking.
This is an online stamp duty payment method. Log in to the official website of Stock Holding Corporation of India Limited (shcilestamp.com) and choose the payment method. You can choose to pay through NEFT/RTGS, cash, cheque, and DD.
To pay stamp duty charges using this method, buy non-judicial stamp paper from a licensed vendor. The relevant stamp duty will determine the value of these papers.
The procedure for the payment of stamp duty and registration charges is simplified and there are many ways to pay it. The most convenient way to pay is the online method. Following documents are required for the payment of stamp duty and registration charges:
Stamp Duty charges are excluded from Home Loan by the lending banks. The property buyer must pay this expense out of their pockets. It is advisable to find out about these charges.
To know more, visit our home loan fees and charges page
Following documents are required to pay Stamp Duty and Registration Charges:
- ID Proof of both parties: Passport, Driving License or PAN Card
- Original and 2 copies of Sales Deed
- Proof of Registration Fee
- Proof of Stamp Duty payment
- Proof of Payment to the seller
- Khata certificate
Stamp Duty fees can be easily paid online using the E-Stamping method in some Indian states through the SHCIL website. Use a stamp duty calculator India for finding out the exact charges.
A stamp duty registration calculator allows you to calculate the Stamp Duty Charges you need to pay. Kotak Mahindra’s mortgage Stamp Duty Calculator requires the customer to fill in the criteria such as the cost of the agreement, location of the property, type of ownership, and whether you are an existing customer to calculate the stamp duty fees.
Once you provide the information, the stamp duty and registration calculator calculates the charges based on various factors like cost, gender, and location for you.
Follow these steps to use Kotak Mahindra Bank’s online Stamp Duty Calculator:
-Go to the Stamp Duty and Registration charges Calculator page
-Enter the property agreement cost
-Select ownership type
-Choose the property location (Indian state)
-Select whether you're an existing customer
Stamp Duty amount will be displayed on the screen.
Stamp duty is not paid as part of your Home Loan. It is an indirect tax charged for the ownership transfer when you buy an asset or a property. Use a stamp duty calculator India to find out the stamp duty amount.
Find out the amount of stamp duty using the stamp duty and registration charges calculator and pay using any of the following ways:
- Stamp paper: Paid using non-judicial
-Franking: Paid through banks that offer this facility
-E-stamping: Paid online through shcilestamp.com
Yes, tax deductions can be claimed on Stamp Duty. It can be done once in the year of the transaction.
The Section 80C of Income Tax Act, allows you to claim Stamp Duty deduction in Income Tax upto the maximum limit of Rs. 150,000.
Yes, a refund on stamp duty is given after some deduction. Maharashtra government allows you to claim it within 6 months from the date of payment if the document has not been executed.
The buyer of the property has to pay the stamp duty.
They are proof of property ownership. Stamp Duty is charged to validate the registration agreement.