Stamp Duty and Registration Charges in Bangalore

Property registration charges are a significant source of revenue for state governments. Moreover, registering your property ensures ownership of the property. In Bangalore, all immovable property registration must be done within six months of executing the sale agreement. Below, we outline the Bangalore stamps and registration deed details.

Property Registration Charges in Bangalore (2023)

The calculation of stamp duty and registration charges in Bangalore in 2023 is based on the Ready Reckoner Rates (RRR) set by the state government or the property’s market value. Thus, if you purchase a property at Rs. 8,000 per sq. ft. and the RRR of the area is Rs. 4,000, then the stamp duty and registration charges you pay will be based on any amount between Rs. 8,000 to Rs. 4,000.

Registration and Stamp duty in Bangalore is levied at 1% and 5% of the property’s market value, respectively. Homebuyers are also charged a transfer duty fee of 1.5% of the property’s market value. Thus, a homebuyer pays 7.5% of the transaction amount.

Calculation of House Registration Charges in Bangalore

House or land registration charges in Bangalore can be computed using the online stamp duty calculator in Karnataka. Visit the official Karnataka Stamps and Registration Department website. Select the applicable values from the dropdowns and enter the consideration value to know the charges payable.

Alternatively, Bangalore registration charges can also be calculated manually. For example suppose you are interested in the property of Godrej Bengal Lamp in Budigere Cross Bangalore, Near Whitefield. The property worth is INR 1.10 Crore, as illustrated below on a property worth 1.10 Crore:

• Stamp duty payable = 1,10,00,000 x 5% = 55,00,000
• Registration charges payable = 1,10,00,000 x 1% = 1,10,000
• Transfer duty fee payable = 1,10,00,000 x 1.5% =1,65,000

Thus, you will have to pay Rs 57,75,000 to register your Rs 1.10 Crore worth of property.

Documents Required for Property Registration in Bangalore

The following documents need to be submitted while registering property in Bangalore. These include:

• A registered copy of the original sale agreement
• Copy of the stamp duty payment receipt
• Copy of the latest City Survey Department’s property register card
• Copy of utility bills
• Identity proof of the seller and buyer – Aadhaar card, passport, etc.
• Passport-sized photographs of the seller and buyer

Finally, property registration in Bangalore can also be done online on the official SHCIL website through a straightforward process. You can also avail a stamp duty exemption on land used for solar power projects.

Stamp Duty in Bangalore on Conveyance Deeds

In 2023, understanding how to calculate stamp duty in Bangalore, especially on conveyance deeds, is crucial. Stamp duty is assessed at 5% of the property value, with an additional 1% for registration charges and 1.5% for transfer duty. Let’s break down the calculation:

If you’re purchasing an apartment worth Rs. 60 lakh, the applicable stamp duty is 5%, the registration charge is 1%, and the transfer duty is 1.5%.

• Stamp duty: 5% of Rs. 60 lakh = Rs. 3,00,000
• Registration charge: 1% of Rs. 60 lakh = Rs. 60,000
• Transfer duty fee: 1.5% of Rs. 60 lakh = Rs. 90,000

So, the total registration cost will be Rs. 4,50,000, making the final property cost Rs. 64,50,000.

How to Calculate Duty and Fee on the Official IGRS Karnataka Portal (2023)

For a seamless calculation of duty and fees on the official IGRS Karnataka portal in 2023, follow these steps:

• Visit the IGRS Karnataka homepage or use this link: IGRS Karnataka Portal.
• Scroll down and select ‘Duty Fee Calculator.’
• Choose the nature of the document.
• Select the major code, minor code, and consideration value.
• Click ‘Calculate’ to get the stamp duty charges.

How to Pay Stamp Duty in Bangalore Online Using SHCIL

Thanks to the collaboration between the Karnataka government and the Stock Holding Corporation of India (SHCIL), paying stamp duty online has become effortless.

Here’s a step-by-step guide:

• Visit the official SHCIL website: SHCIL E-Stamp.
• From the dropdown list, select ‘Karnataka.’
• Log in with your credentials (username and password).
• Enter the required property details.
• Make the fee payment using the payment gateway of your choice, such as NEFT, online banking, or credit/debit card.
• Save the receipt for future reference.