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What Is the Procedure of Stamp Duty Registration in Kolkata

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What Is the Procedure of Stamp Duty Registration in Kolkata

Last updated: January 14 2016
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  • What Is the Procedure of Stamp Duty Registration in Kolkata

    This has reference registration fee for flat in Kolkata

    Our understanding registration to be done at 5 % (women applicant), 6% for Joint Applicant , 7 % for Male applicant, Agreement Value of the Flat for First Time Buyer.

    In our case as Agreement value is 28 lacs , registration amount should be calculated over that.

    However the current market valuation may be many times higher than agreement value.

    Registration on market value should be applicable for 2nd timebuyers ,not 1st time buyers.

    Now the builder is informing us the market value of flat is 1 cr. Hence registration + stamp duty : 10 lacs.

    But this is a extremely high amount considering we have paid only 28 lacs.

    Can anybody pls advise
  • #2

    #2

    Re : What Is the Procedure of Stamp Duty Registration in Kolkata

    1st time registration is on purchase agreement. Resale registration depends on circle rate.. (minimum value)..
    Consult a lawyer for local bye-laws.. In West Bengal.. anything can happens

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    • #3

      #3

      Re : What Is the Procedure of Stamp Duty Registration in Kolkata

      As new_indian suggested, pl consult lawyer. However, when I had gotten my flat registered, I remember having paid fees as per circle rate even though it was a purchase straight from builder. So, what new_indian suggested, if it is true, then I was certainly guiled...

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      • #4

        #4

        Re : What Is the Procedure of Stamp Duty Registration in Kolkata

        Is it possible that different rules apply in different places?
        For e.g Rules in Delhi is for 1st time buyer , while in Kolkata it is otherway.

        In delhi I have confirmed with builder that registration is on agreement value not circle rate. But Kolkata builder's opinion is as per circle rate ???

        Any Penal Code is there where this rule is clearly written such as Registration Act?

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        • #5

          #5

          Re : What Is the Procedure of Stamp Duty Registration in Kolkata

          The rule of thumb is highest of circle rate or agreement value, irrespective of first time or 10th time.

          There reason is very simple .... to avoid under declaration for win-win situation.

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          • #6

            #6

            Re : What Is the Procedure of Stamp Duty Registration in Kolkata

            hi all,

            i have a flat on sn roy road for which iv found a buyer thru a broker...nw the issue is coming in registration...the buyer wanted to pay around 50% of the valuation in cash...when he went to the registrar, the registrar quoted our actual deal value as the area rate and refused to register the property below tht rate...nw the buyer has told me tht he will look for another registrar who agrees to register it a lower rate...nw i hv the foll questions:

            1. is it possible tht for the same flat, diff registrars will quote diff rates? if yes, hw much cud the maximum variation be?
            2. i live in delhi n here the govt quoted area/circle rates are normally half of the actual rates. given tht in this case registrar has quoted the actual deal value as area rate, dies it mean tht i shud relook at my flat's actual value?
            3. what are the avg rates in sn roy road for a flat in a gated society with security? the place is 10 mins walk from ajantha cinema on the road opposite it...

            any advice will be highly appreciated..

            thx

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            • #7

              #7

              Re : What Is the Procedure of Stamp Duty Registration in Kolkata

              Originally posted by chetani3 View Post
              hi all,

              i have a flat on sn roy road for which iv found a buyer thru a broker...nw the issue is coming in registration...the buyer wanted to pay around 50% of the valuation in cash...when he went to the registrar, the registrar quoted our actual deal value as the area rate and refused to register the property below tht rate...nw the buyer has told me tht he will look for another registrar who agrees to register it a lower rate...nw i hv the foll questions:

              1. is it possible tht for the same flat, diff registrars will quote diff rates? if yes, hw much cud the maximum variation be?
              2. i live in delhi n here the govt quoted area/circle rates are normally half of the actual rates. given tht in this case registrar has quoted the actual deal value as area rate, dies it mean tht i shud relook at my flat's actual value?
              3. what are the avg rates in sn roy road for a flat in a gated society with security? the place is 10 mins walk from ajantha cinema on the road opposite it...

              any advice will be highly appreciated..

              thx
              Are you sure you can register in a different place??? You are dealing in colored money, have you thought how you are going to manage that hard cash? 50% in color is too much!! You are helping someone to cheat the Government and yourself too!!


              Price on SN Roy road varies significantly, from 2600 to 4000+, depending on quality, location and maintenance.

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              • #8

                #8

                Re : What Is the Procedure of Stamp Duty Registration in Kolkata

                gharondabhai... Live example of Black Money in RE ...

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                • #9

                  #9

                  Re : What Is the Procedure of Stamp Duty Registration in Kolkata

                  Originally posted by sandipRC View Post
                  gharondabhai... Live example of Black Money in RE ...
                  Is anyone actually unaware of this ?

                  Black money is one of the primary reasons that RE prices are not falling in any place.. check out Kolkata Rajarhat example..Maybe I am in the minority here but prices in Rajarhat range from 3.5k - 5k psf) which is similar to outskirts of Bangalore .. whereas the job prospects / average earnings / salary levels in blr are way higher than Kolkata..
                  So much private equity & coloured money is in the system that no one is willing to sell at the real levels

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                  • #10

                    #10

                    Re : What Is the Procedure of Stamp Duty Registration in Kolkata

                    Practical advice: Set a deadline with the prospective buyer...otherwise you will be locked in this deal till your buyer finds a "suitable" registrar.

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