Stamp duty is a state levy on real estate transactions and ownership. According to Section 3 of the Indian Stamp Act of 1899, payment is required.
The stamp duty paid at the time of registration will have a term proportional to the property’s market value. The age of the home also plays a role, as does the state or region in which it is situated.
Because of the extra expense that stamp duty will add to your home purchase, it is crucial that you understand the implications of the kind and location of the property you want to acquire.
Fees for registration and stamp duty in Kerala
In Kerala, the registration and stamp duty rates for the fiscal year 2023–24 would be 7+2% from the date of getting the door number to 6 months. Later, the rate would be 8 + 2%
Regulating department
The procedure for registering a business or an individual in Kerala is governed by the Registration Department of Kerala.
Steps in registration
You may register your property in Kerala by first going to the online website of the Registration Department of Kerala, which is located in the state of Kerala, and then following the processes that were outlined above.
Documents required
Yes, you will be required to submit papers such as two pictures in the appropriate size for a passport, a PAN card, a plan of the property, ID proofs of all of the property owners and witnesses, a no objection certificate, a power of attorney, and a municipal tax bill.
Payment mode
At this time, there is no possibility to make a payment for the stamp duty fees via the internet. You are going to need to go to the office of the Sub-registrar. At that point of sale (PoS), you may use either a credit card or a debit card.
Validity of stamp duty
Within half a year of the day that the stamp paper was issued, the stamp duty that is owed in Kerala must be paid. In addition, the stamp duty is valid for an individual’s whole life after it has been paid.
Basis of computing stamp duty
In order to calculate the Stamp Duty in Kerala, you will need to give information on the property, such as the value of the property, the location of the property, and so on.
