Buying a home can be counted as one of the biggest financial decisions of an individual’s life. This statement applies on home purchase everywhere be it in Delhi, Mumbai or West-Bengal. That said, most people are already aware of home loan stamp duty and registration charges that would be levied in Delhi and Mumbai since these are big cities, and the information is already there on the internet. The same can’t be said for stamp duty and registration charges that would be levied on property purchase in West Bengal. Therefore, below is a simple guide shedding some light on stamp duty charges levied on property purchase in West Bengal. Stamp Duty— West Bengal Rates:-
Stamp duty in West Bengal would vary based on different factors including the location of property. West Bengal is a very big state and Kolkata, as its capital, is likely expensive and so the stamp duty on properties located inside Kolkata would be higher. The same can be said for properties located near Kolkata or at a manageable distance from center of Kolkata. Apart from that, areas near Howrah, Hooghly river and Sealdah railway station are a little expensive compared to areas on the outskirts of Kolkata. So, the stamp duty varies depending on the property’s location. To give you the gist, if you are buying a home for under Rs.25 lakh in corporation areas in Kolkata or Howrah, then you will be charged 6% stamp duty. In case of a house that costs more than Rs.25 lakh, the rate is 7%. Similar rates apply for houses at areas notified under corporation or municipalities.For other areas, the rates are 5% for properties that cost under Rs.25 lakh and 6% for properties above Rs.25 lakh. Reference Read: A Guide to Stamp Duty Charges in West Bengal
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AuthorAman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management. |