If you are looking to buy a property in Rajasthan, then you must know it’s not always about the property rates. There are a few inclusions and exclusions, always in the form of hidden charges. The same goes for stamp duty and registration charges in Rajasthan or any other state.
What Are Stamp Duty and Registration Charges?
To begin, let’s define stamp duty and registration charge in layman’s terms. Stamp duty is a legal tax that is paid to ensure the sale or purchase of any property is authorised by the state government.
Furthermore, registration fees are fees paid to register or book your property.These are the additional costs that are never included in the property value.
Stamp Duty and Registration Charges in Rajasthan
If you are reading this article, then you must already have made up your mind to buy a property, and according to the Stamp Duty and Registration Charges in Rajasthan 2023, you should be aware of what extra budget you have to carry for buying a property in Rajasthan.
|Stamp Duty Charges||Registration Charges||Registry Total Charge|
|6% of total buying property value (for males) +20% of 6% for labour cess||1% of the total property value||8.20%|
|5% of total buying property value (for females) + 20% of 5% for labour cess||1% of the total property value||7%|
Also Read: What Is Cost Of Living In Jodhpur?
Here are a few things you must know about these charges:
- Stamp duty charges vary from state to state and by demographics within a state as well.
- Stamp duty charges for males in Rajasthan are 6% of the total property value.
- Stamp duty charges for females in Rajasthan are 5% of the total property value.
- Labour cess is an additional tax added to stamp duty charges for any workmen involved in construction.
- Labour cess is uniform for both males and females. It is 20% of the stamp duty charges and has to be paid for welfare of the labour class.
Understanding Registration Charges in Rajasthan With Example
- Registration charges remain constant for both genders.
- Registration charges in Rajasthan are 1% of the total property value.
Both the stamp charges and registration charges accumulate for the stamp duty charges in Rajasthan of any property, that is, by adding stamp duty and registration charges you will get the registry charges of any property.
- Cost of property that you purchased = INR 20,00,000 (20 Lakhs)
- Therefore, if you are a male then you will have to pay INR 1,64,000 additionally to the government as Stamp Duty and Registration Charges in Rajasthan.
- You can use this calculation for your reference by altering the values depending upon your gender and property value.
|Stamp Duty Charges||Registration Charges||Registry Charges|
|6% of 20 00,000 + 20% of 1,20,000 (26% of 20,00,000) = INR 1,44,000||1% of 20,00,000 = INR 20,000||1,44,000 + 20,000 =INR 1,64,000|
Now, depending on the determinant of the property, such as if the property is divided among family members, the buyer’s caste, or the gift in favour of the deceased, these registry charges will undoubtedly differ; thus, they are completely different in such scenarios.
Although, for reference, you can always keep a lump sum of 7-9% aside for legal processing fees, stamp duty, registration charges, commission fees, or any other due procedures.
Also Read: Guide To Buying Your Home In Jodhpur
Payments and Penalties in Rajasthan
While we have discussed what are the exclusions to your property value, moving further with the article, we will discuss how to pay property registration charges in Rajasthan, what are the required documents before paying the registry fee, and when you have to pay these due fees:
Payment of Stamp Duty and Registration Charges
- You can pay the stamp duty and registration charges in both online and offline modes. You must log in to the website, https://epanjiyan.nic.in/, to pay your due amount via net banking, debit card, or credit card.
- In the case of offline mode, you will need to visit the sub-registrar’s office in Rajasthan, where you can pay the charges for legalising your purchase and submit the documents simultaneously.
The stamp duty and registration charges in Rajasthan have to be paid in time, that is, within a month of the property transaction, or else the state government can exercise a penalty of 2% per month to jail, depending on the severity.
Also Read: What Are The Property Rates In Jodhpur?
Documents Required for Stamp Duty and Registration in Rajasthan
There are several documents that you must have in order to submit the application for registry fees to the state government, which includes:
- a power of attorney;
- a licence agreement;
- a reconveyance of property mortgage;
- any kind of deed, such as a gift deed or a lease deed;
- any transfer instruments.
The document verification ensures the authorization of your property, and hence all the documents for your property determinant must be recorded prior to the purchase of the property to avoid inconvenience at a later stage.
Who Can Buy Property in Rajasthan?
To your surprise, there is no law against anyone buying property in Rajasthan, given that they are paying all the stamp duty and registration charges. You need to have all the required documents for verification. This applies for NRIs as well.
However, you must hire a lawyer/ attorney for the procedure of buying a property in Rajasthan. For a seamless experience during the entire process, the best decision is always to consult with a property dealer in Jodhpur or any other city of the state.
Also Read: Best Places To Live In Jodhpur
Is It A Good Decision To Buy A Property In Rajasthan?
Rajasthan is at a stage of development where buying and investing in real estate is a good option. It will lead to increased profitability for you in the near future. The prominent areas of Rajasthan, such as Jodhpur, Jaipur, Udaipur, and Ajmer, are good places to invest as of now.
To summarise, it is a wise decision to invest in property in Rajasthan at this time because property prices are expected to rise in the coming months.The time has come to purchase the property you’ve been eyeing.
The stamp duty and registration charges in Rajasthan are subject to change according to the year and budget analysis. You can also choose to purchase a property in the name of your wife, mother, or daughter, as it will lead you to pay 1% less on your registry charges.