The stamp duty rates in Mumbai, Thane & Pune in India were as follows:
Residential Properties:
For men: 6% of the property value
For women: 5% of the property value
For joint owners (husband and wife): 4% of the property value
Non-Residential Properties:
Commercial properties: 5% of the property value
Industrial properties: 5% of the property value
The stamp duty rates can be subject to revisions by the state government. Therefore, it is advisable to check with the concerned authorities or consult a legal professional for the most up-to-date information on stamp duty rates in Mumbai.
A 1% Stamp duty concession for female homebuyers in Mumbai, Maharashtra is applicable & also encourages women to grab tax rebate benefits while purchasing a home.
Understand the area-wise stamp duty charges in Mumbai
In Mumbai, the stamp duty rates are determined by the Maharashtra government and vary based on the location and type of property. The rates can also be subject to changes made by the government. The following were the stamp duty rates in effect until September 2021 for different areas in Mumbai:
South Mumbai (Island City):
Residential Properties: 5% of the agreement value or the market value, whichever is higher.
Commercial Properties: 5% of the agreement value or the market value, whichever is higher.
Western Suburbs (Andheri, Bandra, Juhu, etc.):
Residential Properties: 5% of the agreement value or the market value, whichever is higher.
Commercial Properties: 5% of the agreement value or the market value, whichever is higher.
Eastern Suburbs (Ghatkopar, Mulund, Chembur, etc.):
Residential Properties: 5% of the agreement value or the market value, whichever is higher.
Commercial Properties: 5% of the agreement value or the market value, whichever is higher.
Rates are subject to change these rates are estimated so it is advisable to consult the latest information from the relevant authorities or a professional before making any financial decisions related to stamp duty pay in Mumbai.
Conclusion:
Hope things are cleared regarding stamp duty charges in Mumbai for more details and accurate information feel free to consult with any administrative staff before proceeding.
