Stamp Duty and Registration Charges in Mumbai [2024 Updated]

Mumbai has some of the most expensive real estate markets in the world, so buyers need to consider all extra costs that will come in their bucket before buying a property. Stamp duty and registration fees can make the total cost much higher. It’s necessary for buyers to have an idea of these costs before they proceed with their purchase.

With this said, here is a blog that will guide you through the stamp duty and registration charges in Mumbai.

What is Stamp Duty and Registration Fee?

Stamp duty is a tax imposed by the states in India on various property transactions. It’s a major source of income for states to make money and is paid when you register documents like a sale, gift, or lease deed. The rate of stamp duty can vary from state to state.

In addition to stamp duty, buyers also need to pay a registration fee for the paperwork. This fee is usually about 1% of the stamp duty and is generally lower.

Metro Tax on Property Purchase in Mumbai

Starting April 1, 2022, the Maharashtra government imposed a 1% metro tax on top of the stamp duty for property sales in Mumbai, Pune, Thane, and Nagpur. This extra charge is meant to fund transportation projects. Because of this metro tax, the total stamp duty and registration charges in Mumbai have risen to 7%. In Pune and Nagpur, the total stamp duty has also increased due to this new tax.

Stamp Duty and Registration Charges in Mumbai in 2024

Areas in Mumbai	Stamp Duty Rates for Men	Stamp Duty Rates for Women	Registration Fees in Mumbai
Within the municipal limits of any urban area	6%	5%	1%
Within the jurisdiction of a municipal council/panchayat/cantonment in the MMRDA region	4%	3%	1%
Within the limits of a gram panchayat	3%	2%	1%

Stamp Duty in Mumbai: Based on Areas

Areas in Mumbai	Stamp Duty	Registration Charges
South Mumbai	5% + 1% metro cess	1%
Central Mumbai	5% + 1% metro cess	1%
Western Mumbai	5% + 1% metro cess	1%
Harbour	5% + 1% metro cess	1%
Thane	5% + 1% metro cess	1%
Navi Mumbai	5% + 1% metro cess	1%

Property Registration Fees in Mumbai

Property Buyer	Stamp Duty Price	Registration Charges
Men	6%	Property value below Rs 30 lakh: 1% Property above Rs 30 lakh = Rs 30,000
Women	5%

Stamp Duty of Resale Flat in Mumbai 2024

Areas in Mumbai	Stamp duty in Mumbai for men	Stamp duty in Mumbai for women	Registration charges
Within the municipal limits of any urban area	6% of the property’s market value	5% of the property’s market value	1 % of the property value
Within the limits of any municipal council, panchayat, or cantonment of any area within MMRDA	4% of the property’s market value	3% of the property’s market value	1 % of the property value
Within the limits of any Gram panchayat	3% of the property’s market value	2% of the property’s market value	1 % of the property value

How is Stamp Duty Calculated in Mumbai?

Buyers need to pay stamp duty based on the value listed in the sale agreement. In Mumbai, properties can’t be bought or sold for less than the government’s set RR rates. This means the property value should match the current RR rates, and the stamp duty will be based on that. If the property’s sale price is higher than the RR rate, the stamp duty will be calculated on the higher price. If the sale price is lower, the stamp duty will be calculated based on the RR rate.

Documents for Property Registration in Mumbai

• Agreement to sale
• Sale deed
• Encumbrance certificate
• Property tax receipts
• No-objection certificate
• Power of Attorney, if applicable
• Stamp duty and registration fees payment proof
• Occupancy certificate for new buildings
• Completion certificate for under-construction buildings
• TDS deduction certificate (applicable on properties worth over Rs 50 lakh)
• PAN Card of the buyer
• PAN card of seller
• Aadhaar card of seller
• Aadhaar card of buyer
• Passport-size photos of buyer and seller
• ID proof of buyer
• ID proof of seller
• ID proof of witnesses
• Address proof of buyer
• Address proof of seller
• Address proof of witnesses

Factors Affecting Stamp Duty and Registration in Mumbai

In Mumbai, several factors can influence the stamp duty and registration charges applicable to a property transaction:

1. Property type: The stamp duty and registration charges may vary based on the type of property involved. Residential properties, for instance, might attract different stamp duty rates compared to commercial properties.

2. Property value: The charges for stamp duty and registration may be calculated based on the property’s value. Typically, the stamp duty on a property sale is a percentage of the property’s selling price.

3. Ownership type: The type of ownership can also impact the stamp duty and registration charges. For example, properties owned by companies may incur higher stamp duty compared to those owned by individuals.

4. Property location: The location of the property plays a significant role in determining stamp duty and registration charges. Different regions within Maharashtra may have distinct stamp duty rates and regulations.

Maharashtra Government Extends Stamp Duty Amnesty Scheme Till August 31, 2024

In a move to increase revenue generation, the Maharashtra government has decided to extend its stamp duty amnesty scheme for the fourth time until August 31, 2024. Named the Mudrank Shulakh Abhay Yojana, the scheme was introduced in December 2023 to encourage homebuyers to settle outstanding stamp duty dues.

Under the scheme, the state government will exempt the entire stamp duty fee and penalty imposed on property documents registered or not registered between January 1, 1980, and December 31, 2020. This includes properties under Mhada, Cidco, or even the SRA.

According to the Inspector-General of Revenue, Maharashtra, a full waiver is granted for all properties with stamp duty and penalty amounts up to Rs 1 lakh. For all properties with stamp duty and penalty above Rs 1 lakh, a 50% waiver on stamp duty and a 100% waiver on penalty is granted.

FAQs

Q. What is the rate of stamp duty in Mumbai?

The stamp duty rate in Mumbai is 6%.

Q. How is stamp duty calculated on flats in Mumbai?

Stamp duty is calculated based on the property value as mentioned in the sale agreement. However, note that a property cannot be registered below the RR rates in the city.

Q. How can I pay stamp duty and registration fees online in Mumbai?

Users can visit the Maharashtra government’s Government Receipt Accounting System (GRAS) website to make the online payment.

Q. When is the stamp duty payable in Mumbai?

The stamp duty on property in Mumbai is payable before execution of the document or on the day of execution of the document or on the next working day of executing such a document.

Q. Whose name should property stamp papers bear, the buyer, the seller, or the lawyer?

The stamp should be purchased in the name of any of the parties who are printing the document. The stamp should not be purchased in the name of the lawyer or the third party.

Q. Who pays stamp duty on property registration in Mumbai, buyer or seller?

The buyer is responsible for paying the stamp duty and registration fee on registration of the sale deed.

Q. Who pays the stamp duty on gift deed registration in Mumbai, the donor or the donner?

The donor pays the stamp duty on gift deed registration in Mumbai.