Stamp Duty and Registration Charges in Chhattisgarh-2022
Learn all about stamp duty and registration charges in Chhattisgarh.
What is Stamp Duty in Chhattisgarh
Indian Stamp Act, 1899, Section 3, states that a home buyer must pay a tax on all property transactions, which is known as Stamp Duty. Such taxes are paid to the state government, meaning the Chhattisgarh government. Payment can be made online or offline. The online payment is done through an e-stamping website. Once the property is registered and stamp duty charges are paid, the property legally becomes yours.
Also, you can claim a tax benefit under Income Tax Act, 1961 Section 80C. A tax benefit of up to Rs 1.5 lakh can be claimed on registration charges payment.
Stamp Duty in Chhattisgarh Determining Factors
Various factors are considered while deciding the stamp duty charges because property rates are dependent on the ready reckoner rate. Given below are the factors which decide the rate:
- Age of Property: The age of property is an essential factor. The newer property attracts more stamp duty, whereas the old property is less expensive and attracts less stamp duty charges.
- Age of Property Owner: In some cities, the stamp duty charges are lower for citizens above 60 years.
- Property Type: Residential properties have lower stamp duty charges. However, independent houses attract lower stamp duty in Chhattisgarh.
- Gender of Property Owner: Stamp charges are lower for women homebuyers in many cities.
- Property Location: The property rates are higher in urban areas when compared to rural areas, meaning the stamp duty charges are higher for such areas.
- Amenities offered: Higher stamp charges are levied for a property with better amenities like a clubhouse, swimming pool, gym etc.
Stamp Duty and Registration Charges in Chhattisgarh 2022
A homebuyer in any city of Chhattisgarh will have to pay 5% Stamp Duty. The registration charges in Chhattisgarh is 4% of market value of the property.
Stamp Duty charges in Chhattisgarh in 2022 are as follows:
| Property owner | Stamp Duty in Chhattisgarh |
| Man | 5% |
| Woman | 4% |
| Joint (Man and woman) | 4% |
Registration Charges in Chhattisgarh in 2022 are as follows:
| Property owner | Registration charges in Chhattisgarh |
| Man | 4% |
| Woman | 4% |
| Joint (Man and woman) | 4% |
Let’s understand with an illustration how stamp duty in Chhattisgarh and registration charges are calculated:
Suppose Alok has purchased a property in Raipur for Rs 45 lakh, so while registering a property, he will have to pay registration charges and stamp duty charges to the state government. The registration charges are 4%, and stamp duty charges are 5%. Alok’s calculation will be as given below:-
- Stamp duty charges 5% of Rs 45 lakh= Rs 2,25,000
- Registration charges 4% of Rs 45 lakh= Rs 1,80,000
- Total of stamp duty and registration charges= Rs 4,05,000