MP Stamp Duty Charges and Registration Fee Calculator

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MP Stamp Duty Charges:-

Stamp duty is a tax levied on the market value of any property in order to register it in the owner’s name. This approach prevents any disagreements, disputes, or unlawful activity involving your property. Stamp duty applies to all property documents, transfers, and gift assets.

MP Stamp Duty Charges

MP Stamp Duty Charges And Registration Charges

Madhya Pradesh, being one of the states with high stamp charges, generates significant revenue from it. However, the state government in Madhya Pradesh cut the stamp duty in September 2020. They announced a 2% reduction in stamp duty costs, which aided in reviving the stagnating housing business during the COVID-19 epidemic.

Previously, stamp duty and registration fees in Madhya Pradesh were 12.5% (9.5% stamp duty and 3% registration fees). However, on September 7, 2020, the state administration announced a 2% cut in fees through December 31, 2020. The new stamp duty costs for municipal properties remained at 10.5% as of today.

Current Stamp Duty and Registration Charges in Madhya Pradesh

Ownership Stamp Duty Registration Charges
Male 7.5% 3%
Female 7.5% 3%
Co-ownership 7.5% 3%

Note:- Property registration costs in Madhya Pradesh might include panchayat and municipal levies. The stamp duty, on the other hand, contains municipal, district, Upkar, and primary stamp duties of 3%, 1%, 0.5%, and 5%-2% cess, respectively.

Stamp Duty on Different Documents

Document Type Stamp Duty
Stamp duty on lease deed in Madhya Pradesh 8% of total rent and deposit
Stamp duty on gift deed in Madhya Pradesh to family members) 1% of the market value of a property that must exceed ₹1000
Gift deed in Madhya Pradesh to others 5% of a property’s market value

Stamp Duty and Registration Charges Calculator Madhya Pradesh

Land Size 1,000 sq.m
Reckoner Rate ₹5,000 per sq. m
Total Value ₹50,00,000
Stamp Duty 7.5% of ₹50,00,000 = ₹3,75,000

Let’s Calculate the Registration Fees as well

Property Cost ₹50,00,000
Registration Fees 3% of ₹60,00,000 = ₹1,50,000

How to Use a Stamp Duty Calculator?

To calculate the Stamp Duty in Madhya Pradesh using a calculator follow the simple steps given below:-

  • Visit the stamp duty calculator page
  • Here, choose your state, i.e., Madhya Pradesh under the Stamp Duty Details section.
  • After that, enter the amount of ready reckoner rate or property value, whichever is the highest.
  • Finally, click on “Calculate Stamp Duty”.
  • The result will be on your screen.

Pay Stamp Duty Online

The online process will require minimal time and a few simple steps:-

  • Visit the official website of the Commercial Tax Department, Government of Madhya Pradesh.
  • Now, log in to the E Stamp Verification.
  • Enter all the required details.
  • Finally, make the payment required for your stamp duty charges.

Offline Process

Pay your stamp duties through the following process:-

  • Franking:-
    • Visit any government-designated bank or post office across the state to submit your stamp duty.
  • Visiting the Office:-
    • You can pay the stamp duty by visiting the sub-registrar’s office.

Factors That Influence Stamp Duty

Factors Effect on Stamp Duty Rates in Madhya Pradesh
Usage and Type of a Property Stamp duty rates differ depending on whether the property is commercial or residential. Commercial property often has a higher value than residential or personal property.
Location of a Property Stamp duty rates are generally higher in metropolitan municipal or corporate areas.
Amenities and Facilities The price of your house will be greater if it is fully equipped with high-tech features. This will result in a higher property stamp duty.
Age of a Property Status Stamp duty will be cheaper on older homes than on modern properties.

Tax Benefits Available on Stamp Duty and Registration Charges in Madhya Pradesh

Yes! Section 80C of the Income Tax Act allows you to claim a tax deduction for stamp duty expenses. The statute allows for a maximum deduction of ₹150,000 per year. When completing your IT return, you can claim the tax deduction only for the year of the sale or purchase transaction.

The reduction in Stamp Duty in Madhya Pradesh was a significant step forward in stimulating the housing industry. Furthermore, the rise in property registration resulted in significant income increases. With a cheaper stamp rate, it is easier for buyers to acquire their ideal home in Madhya Pradesh.

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