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The fee you must pay to the authorities in order to register a property in your name is known as stamp duty.
Stamp duty and registration charges in Tamil Nadu are paid to the same entity that handles all of the paperwork required to complete the process.
Under the Registration Act, stamp duty must be paid on all documents that are registered in India.
It can be more difficult to register a property than it is to buy one.
Keep in mind that when buying a property, the price the seller quotes you is not the ultimate price you’ll have to pay.
When you register it in your name, a few lakhs are easily added to the price stated to you.
Did you know that when you buy a property, you’ll have to pay stamp duty, registration fees, cess, and surcharges?
The property’s total market value and the overall cost of the charges might be as much as 7% to 10%, depending on the charges.
While registration fees range from 4%, stamp duty ranges from 7% of the total market value of the property in most Indian states.
The stamp duty rate varies from state to state and is determined by the type of transaction (sale, lease, gift, mortgage, etc.).
In India, Tamil Nadu is one of the states with the highest stamp duty and registration fees.
As a result, property buyers in Tamil Nadu may expect to pay a significant sum while registering their property.
Author: RAJ YUVA
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