Stamp Duty And Registration Charges In Gujarat

Buying a property involves various costs including stamp duty, registration charges and other expenses. Stamp duty in Gujarat is competitive with other cities making it an attractive area for investors, entrepreneurs and home-owners to acquire property in.

Buying a property is usually a huge decision for most families and hence, it is important to know all that is to know about registry charges in Gujarat. We will explore all the details about stamp duty and registration charges in Gujarat which will allow you to ease your decision-making process.

Stamp Duty And Registration Charges In Gujarat

Stamp duty is a fee that is paid to the state government when a property transaction is carried out. The stamp duty is calculated based on the market value of the property or the agreement value, whichever is higher. The stamp duty rate in Gujarat on property transactions is 4.9%. However, if the property is being acquired by a woman, the stamp duty is reduced to 3.9%. The final duty to be paid though is often rounded off which may lead to a lower or higher amount of stamp duty to be paid.

For instance, suppose you are buying a property in Gujarat that has a market value of INR 50 lakh. In that case, the stamp duty payable will be INR 2.45 lakh (4.9% of INR 50 lakh). Similarly, if you are buying a property for INR 60 lakh, but the agreement value is INR 50 lakh, the stamp duty will still be calculated based on the market value of INR 60 lakh.

Registration charges are another fee that is paid at the time of registering a property. The registration charges in Gujarat are 1% of the market value or the agreement value, whichever is higher. For instance, if you are buying a property with a market value of INR 50 lakh, the registration charges will be INR 50,000 (1% of Rs. 50 lakh). The registration charges are payable at the time of registering the property with the relevant authorities.

The total stamp duty plus registration charges works out to be 4.9% + 1%, i.e., 5.9% for males, and 3.9% + 1%, i.e., 4.9% for females.

Apart from the above, some miscellaneous registry charges in Gujarat may be charged which may include charges for copies of the document and other such charges.

How To Register As Promoter, Real Estate Agent, Or Buyer?

To register under RERA Gujarat, follow these steps:

• Visit the official RERA website: https://gujrera.gujarat.gov.in/
• Click on Project Registration.
• Select type of promoter:
  
  
  • a. Individual
  • b. Society
  • c. Company
  • d. Partnership
  • e. LLP
  • f. Trust
  • g. HUF
• Click on Next after entering your email.
• Enter details like PAN, email, contact number, and company registration number.
• Enter project details from RERA number to authorized signatory.
• Enter project start date, land cost, total cost, description of project, etc.
• Type area development details as required.
• Fill in account details like branch name and IFSC code.
• If you are an agent, enter details about agent registration and name.
• Upload the documents required.
• Make the online payment according to the stamp duty and registration charges in Gujarat.

Documents Required

Some of the essential documents required are:

• Company registration certificate
• Photograph of promoter and project head
• Project completion certificate with plotting, layout, and area development plans
• Sale agreement
• Declaration (Form B)
• 7/12 document
• Title report and clearance certificate
• NOC (Form-1A)
• Auditor report
• ITR
• Encumbrance and Commencement certificates
• Engineer and CA certificates
• Balance sheet and P&L statements of past 3 years

Documents required by agent are:

• Details of enterprise, i.e., name, registered office address, and type of company.
• Memorandum of association.
• PAN card.

What Amount Is The Stamp Duty Payable On?

The Gujarat stamp duty rates in case of any property is payable on the “Jantri value” or the agreement value whichever is higher. In case the agreement value is lower than the Jantri price, the stamp duty and registration charges will have to be paid on the Jantri price although the agreement can be completed at the agreed value.

The Jantri value was last notified by the government of Gujarat in 2011 and it has recently been notified that such rates will see a hike beginning from April 2023.

How To Raise A Complaint?

• You can log into your RERA account and raise a complaint online.
• Otherwise, you can call (079) 232-58659 for all complaints.
• You can also send an email to [email protected].
• Alternatively, you can visit the offline office at Gandhinagar.

Conclusion

Stamp duty and registration charges in Gujarat are two essential fees that every property buyer or seller should be aware of. These fees are fixed by the state government and must be paid at the time of the property transaction. The property market in Gujarat is quite undervalued as compared to many major cities in India and the same has started finding traction in real estate developers across the country.

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Also Read:Stamp Duty and Registration Charges in Delhi (2023)