Site Visit
Blogs

An Insight into Stamp Duty and Registration Charges in Pune (2022) 

pharandespaces

Stamp duty and registration charges are crucial aspects to consider while investing in a property. Stamp duty is the tax incurred on the purchase of property and is levied by the respective state government being a state subject. They are the legal instruments that evidence the fact that the property was bought in your name with other important details, such as the property’s age, mortgage, encumbrances, etc. So, the rights and liabilities concerning the property fall on you once the stamp duty and registration are done.

It is further important to note that stamp duty rates vary from state to state. The stamp duty rates in Maharashtra are governed by the Maharashtra Stamp Act, 1958. So, stamp duty in Pune is regulated under this act and collected by the Government of Maharashtra. It is an additional cost that you must pay on buying real estate properties. Hence, reading and correctly interpreting the facts related to stamp duty and registration charges is important.

5 Key Factors that Influence Stamp Duty Rates

Property is an immovable asset. So, many local factors influence the stamp duty of a particular property. Given is the list of essential factors to keep in mind to understand the stamp duty rates.

  • Location of the Property :

  • Urban areas have high property value as compared to rural areas. The circle rates of the properties are different at different locations, so the stamp duty rates are influenced similarly.

  • Age of Property :

  • The property’s age determines the rate of appreciation of the property and is closely linked to influencing the stamp duty rates. Older properties have a lower resale value, so the rate of stamp duty fluctuates accordingly.

  • Age of Property Holder :

  • There are many individuals, such as senior citizens who have special privileges in terms of property holding. They have to pay less stamp duty given the regulations as mandated by the local government. Thus, it exempts them from incurring any heavy costs.

  • Type of Property :

  • There are many types of residential properties such as apartments, independent houses etc. If we take the example of apartments and independent houses, then the stamp duty on independent houses is usually higher than on apartments.

  • Purpose of the Property :

  • Commercial property will incur higher stamp duty than residential properties since the purpose is to earn profits from the business.

Essential Documents Needed for Registration and Stamp Duty

Here is a list of some documents that are needed to complete the process of stamp duty and registration of the property.

  • Stamp duty receipt
  • ID proofs like Aadhar Card, Pan Card, Driver’s Licence, Passport, Voter ID, etc.
  • Two witnesses or as prescribed by the respective state government
  • Past 3 months’ tax receipt
  • No objection certificate from the property owner or seller
  • Tax clearance certificate
  • Power of attorney, sale deed, conveyance deed and other relevant property documents

Current Status of the Stamp Duty in Pune

Stamp duty and registration charges in Pune are influenced by the official notifications by the Maharashtra Government. The current stamp duty in Pune is 6% i.e. roughly around Rs. 3 lacs. However, the new announcement has increased the stamp duty by 1%, i.e., Rs. 50,000 payable as metro cess from April 1. Stamp duty calculator Pune can be used to get a rough idea of how much you need to pay the government.

There is an expectation of price surge in the real estate market this year, which will render property prices at an all-time high. Since, stamp duty is an additional charge levied by the government so you must book the properties before the stamp duty rates rises. This can be done by keeping an eye on the circulars and announcements by the urban development and housing department of the respective state. Moreover, the research and speculations by real estate think tanks also give an insight into the rise or fall in stamp duty. This will help you cut down on spending extra charges on the property as stamp duty.

Low stamp duty offers help you in reducing the additional property cost. Rise in stamp duty incurs additional cost that can have an impact on your financial and budgetary planning.

Real estate developers in Pune like Pharande Spaces have low stamp duty offers across all its Pune projects. So, if you are interested in getting properties that have the lowest stamp duty then there are many new residential projects in Pune by Pharande Spaces with the best homebuying deals.

Visit these links to all our projects with stamp duty offers.


https://pharandespaces.com/residential-projects/puneville

http://vaanya.co.in/

Privacy Policy

This Privacy Policy governs the manner in which Pharande Spaces collects, uses, maintains and discloses information collected from users (each, a "User") of the https://pharandespaces.com/ website ("Site"). This privacy policy applies to the Site and all products and services offered by Pharande Spaces.

Personal identification information

We may collect personal identification information from Users in a variety of ways, including, but not limited to, when Users visit our site, fill out a form, and in connection with other activities, services, features or resources we make available on our Site. Users may be asked for, as appropriate, name, email address, mailing address, phone number. Users may, however, visit our Site anonymously. We will collect personal identification information from Users only if they voluntarily submit such information to us. Users can always refuse to supply personally identifying information, except that it may prevent them from engaging in certain Site related activities.

Non-personal identification information

We may collect non-personal identification information about Users whenever they interact with our Site. Non-personal identification information may include the browser name, the type of computer and technical information about User's means of connection to our Site, such as the operating system and the Internet service providers utilized, and other similar information.

Web browser cookies

Our Site may use "cookies" to enhance User experience. The user's web browser places cookies on their hard drive for recordkeeping purposes and sometimes to track information about them. The user may choose to set their web browser to refuse cookies, or to alert you when cookies are being sent. If they do so, note that some parts of the Site may not function properly.

How we use collected information

Pharande Spaces may collect and use Users personal information for the following purposes:

  • To improve customer service The information you provide helps us respond to your customer service requests and support needs more efficiently.
  • To personalize the user experience We may use information in the aggregate to understand how our Users as a group use the services and resources provided on our Site.
  • To improve our Site We may use the feedback you provide to improve our products and services.
  • To send periodic emails We may use the email address to respond to their inquiries, questions, and/or other requests. If User decides to opt-in to our mailing list, they will receive emails that may include company news, updates, related product or service information, etc. If at any time the User would like to unsubscribe from receiving future emails, we include detailed unsubscribe instructions at the bottom of each email or User may contact us via our Site.

How we protect your information

We adopt appropriate data collection, storage and processing practices and security measures to protect against unauthorized access, alteration, disclosure or destruction of your personal information, username, password, transaction information and data stored on our Site.

Private and sensitive data exchange between the Site and its Users happens after an SSL secured communication channel and is encrypted and protected by digital signatures.

Sharing your personal information

We do not sell, trade, or rent Users personal identifiable information to others. We may share generic aggregated demographic information not linked to any personal identifying information regarding visitors and users with our business partners, trusted affiliates and advertisers for the purposes outlined above.We may use third party service providers to help us operate our business and the Site or administer activities on our behalf, such as sending out newsletters or surveys. We may share your information with these third parties for those limited purposes, provided that you have given us your permission.

Changes to this privacy policy

Pharande Spaces has the discretion to update this privacy policy at any time. When we do, we will revise the updated date at the bottom of this page. We encourage Users to frequently check this page for any changes to stay informed about how we are helping to protect the personal information we collect. You acknowledge and agree that it is your responsibility to review this privacy policy periodically and become aware of modifications.

Your acceptance of these terms

By using this Site, you signify your acceptance of this policy. If you do not agree to this policy, please do not use our Site. Your continued use of the Site following the posting of changes to this policy will be deemed your acceptance of those changes.

Contacting us

If you have any questions about this Privacy Policy, the practices of this site, or your dealings with this site, please contact us at:

Pharande Spaces: https://pharandespaces.com/
Pharande Spaces,
"Tarangan", 98/2,
Pune - Nashik Highway,
Guruvihar, Bhosari,
Pune: 411039. India.
Ph.no. 02027230506
Email: enquiry@pharandespaces.com

Disclaimer

The documents and graphics on this website could include technical inaccuracies or typographical errors. Changes are periodically added to the information herein. Pharande Spaces may make improvements and/or changes herein at any time. Pharande Spaces make no representations about the accuracy of the information contained in the documents and graphics on this website for any purpose.

All documents and graphics are provided "as is". Pharande Spaces hereby Disclaim all warranties and conditions with regard to this information, including all implied warranties and conditions of merchantability, fitness for any particular purpose, title and non-infringement. In no event shall Pharande Spaces be liable for any kind of damage resulting from any clause or reason, arising out of or in connection with the use or performance of information available from this website.