Stamp Duty for Resale & New Flat in Pune 2024
| Type of Property and Contract | Stamp Duty, LBT & Registration Charges Corporation | Stamp Duty, LBT & Registration Charges in Rural Areas |
| Sale Deed/Agreement of New Flat, Office, Shop, Bungalow, etc. | 5% Stamp Duty + 1% LBT + 1% Metro Cess + 1% Registration Charges (Max. Rs. 30,000/-) | 4% Stamp Duty + 1% LBT + 1% Registration Charges (Max. Rs. 30,000/-) |
| Sale Deed/Agreement of Resale Flat, Office, Shop, Bungalow, etc. | 5% Stamp Duty + 1%LBT + 1% Metro Cess + 1% Registration Charges (Max. Rs. 30,000/-) | 4% Stamp Duty + 1%LBT + 1% Registration Charges (Max. Rs. 30,000/-) |
| Purchase of a Residential Unit by a Woman | 1% Exemption in above charges | 1% Exemption in above charges |
In this article, I am providing information about the current rate (2024) of Stamp Duty, LBT, and Registration Charges applicable for the Agreement to Sell, Sale Deed or Deed of Assignment, etc. of flats, bungalows, offices, shops, etc. properties located in Pune and Pimpri Chinchwad Corporation and Rural areas. At the end of the article, I have included the recent updates too (2019 to 2023).
Stamp Duty and Registration Fees are calculated on the Market Value OR the Sale Price agreed between the Parties, whichever is higher.
Important Points
Concession for Women –
1 April 2021 – 1% exemption/concession while paying stamp duty on the purchase of a residential unit by a woman is applicable in Pune.
Document Handling Charges –
- Offline Registration of Sale Agreement/Deed: Rs. 20/- per page
- E-Registration of new property Sale Agreements/Deed: ₹1,000/-
Is TDS applicable in Pune?
In Pune, PMRDA, and Pimpri Chinchwad, TDS is applicable if the consideration amount is equal to or exceeds Rs. 50 lakh, the buyer should deduct such TDS amount from the consideration and pay to the Income Tax Department. TDS was decreased in the recent past, please confirm with the CA of your choice before depositing it.
Depreciation on Stamp Duty –
Depreciation depends on the age of the property and can be applied only to the Market Value of the Property. If the agreed Sale Price between the Parties is higher than the Market Value then the depreciation rule is not applicable. For example – if a property’s age is between 5 years to 10 years old then 10% depreciation is applicable to the Market Value of the property. Similarly, if the age of the property is between 10 to 20 years then 20% depreciation will be applicable to the Market Value of the Property.
Recent Updates –
- 7 August 2023 – Rs. 1000/- Document Handling Charges will be applicable for the new property Sale Agreement/Deed registration through the e-registration facility.
- 26 May 2023 – Conditions on availing 1% exemption by women who purchase a residential unit are no longer applicable. This order is issued by the Revenue and Forests Department of the Government of Maharashtra, pertains to the Maharashtra Stamp Act.
- 1 April 2021 – 1% exemption/concession while paying stamp duty on the purchase of a residential unit by a woman is applicable in Pune and Maharashtra. Conditions to avail of this exemption are – Exemption available only for the purchase of a residential unit, it should be purchased only in the woman’s name (no joint ownership with the male purchaser), if after availing exemption the property is transferred to any male purchaser within 15 years then 1% exempted stamp duty shall be payable along with applicable fine.
- 31 August 2020 – From 1st September 2020 to 31st December 2020 LBT will be exempted and from 1st January 2021 to 31st March 2021 it will be reduced to half in Pune and Maharashtra.
- 31 August 2020 (Rest of Maharashtra Except Mumbai and Mumbai Suburban Areas) – The Government has decided that from 01/09/2020 to 31/12/2020 Stamp Duty will be waived off by 2% and from 01/01/2021 to 31/03/2021 it will be waived off by 1.5%.
- 31 August 2020 (Mumbai and Mumbai Suburban Areas) – The Government has decided that from 01/09/2020 to 31/12/2020 Stamp Duty will be waived off by 3% and from 01/01/2021 to 31/03/2021 it will be waived off by 2%.
- 1 April 2020 – 1% Stamp Duty (metro railway tax) is waived off for the properties located in Pune, Pimpri- Chinchwad, Nagpur Corporation areas and properties falling under the Mumbai Metropolitan Region Development Authority (MMRDA). This exemption will be applicable for two years.
- 8 February 2019 – 1% Stamp Duty (metro railway tax) is increased for the properties located in Pune and Pimpri-Chinchwad Corporation.