Stamp Duty

Definition

Stamp duty is a mandatory state government tax on property transactions. In India, rates vary from 3-8% of market or transaction value (whichever is higher). In Maharashtra (Mumbai/Pune), it is currently 6% in Mumbai municipal areas and 7% elsewhere, with 1% concession for women buyers.

Registration charges of 1% (up to ₹30,000) apply in addition. Stamp duty is also applicable on loan agreements at a lower rate (0.1-0.2% of loan amount). Stamp duty paid is eligible for Section 80C deduction up to ₹1.5 lakh.

Frequently Asked Questions

How much is stamp duty in Mumbai? ▾

6% in Mumbai municipal areas (market/transaction value, whichever higher), plus 1% registration charges (capped ₹30,000). Women buyers get 1% concession.

Can stamp duty be included in the home loan? ▾

Most lenders don't include stamp duty in the loan amount. Some offer separate facilities to cover these costs.

Is stamp duty tax-deductible? ▾

Yes, under Section 80C up to ₹1.5 lakh in the year of payment, along with other eligible deductions.

Why It Matters

Stamp duty can add 6-7% to property cost in Maharashtra. Factoring this in prevents financial surprises during property purchase.

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