Ghaziabad is rapidly becoming a highly remunerative real estate investment prospect for the homebuyers following the balanced growth of economic development and captivating schemes exhibited by the builders in the city. If you are thinking about purchasing a residential property in the coming times, chances are that you already know about the various kinds of additional expenses that you will face. Among all those expenses, stamp duty and registration fees are two types of charges that are connected to all kinds of properties. These charges are paid to the government in order to register a property under one’s name to avoid the property from any kind of legal obstacles in the future.
Stamp Duty Charges in Ghaziabad
Simply, stamp duty is a kind of tax imposed on the real estate property transactions, which is managed by the state government under the India Stamp Act. Differing from state to state, stamp duty charges are determined by municipal regions, gender, or income groups too in some states. These kinds of charges are decided on the prices of properties during the registration processes. Calculated at the widespread circle rates in an area generally, the current stamp charges in Ghaziabad are around 6 to 7 percent.
Calculation of Stamp Duty Charges
While deciding the stamp duty charges, numerous points are taken into account. Calculated according to the total market value of the property, the factors also taken in the considerations are gender, location, age, and the type of property.
Registration Charges for properties in Ghaziabad
The payment of stamp duty charges is followed by the process of registering one’s property under the Indian Registration Act. The registration fee also varies from state to state like the stamp duty charges. The property registration charges in Ghaziabad is one percent of the market value of the property.
Documents needed while paying for stamp duty and registration fees
- Sales Contract
- Electricity Bill
- Sales Agreement
- Approved building plan
- Recent bank statements
- Certificate for any obstacle
- Power of Attorney, if required
- Possession certificate from the developer
- Receipts of tax paid for the last three months
Disclaimer : The perspectives communicated above are for instructive purposes which are simply dependent on industry outlines and related documents. Per Square Feet does not ensure the exactness, perfection, or the absolute quality of the data and will not be considered in charge of any reaction dependent on the published data.