Stamp Duty Rates increase in Kharghar, Kamothe, Kalamboli, and New Panvel

After Panvel Municipal Council became a full fledged Municipal Corporation in Sept 2016, more than 29 villages and areas previously under Panvel Municipal Council now come directly under Panvel Municipal Corporation. LBT of 1% is applicable in all Municipal Corporation Areas Except Mumbai (Nagpur Stamp duty is 6.5%).

Kharghar, Kamothe, Kalamboli, and New Panvel nodes also now come under the Panvel Municipal Corporation hence the Stamp Duty rates for property purchase and sale transactions has gone up to 6% from the earlier 5%.

Stamp Duty for Ulwe is 6%

Other than these, there are 29 villages also which will pay the increased Stamp Duty rates of 6% .

The following areas will now have to pay 6% Stamp Duty:
Kharghar, Taloja Panchnand, Kalundre, Owe, Kamothe, Chal, Navde, Devicha pada, Tondhare, Pendhar, Kalamboli, Khidukpada, Roadpali, Padghe, Walvli, Pale Khurd, Tembhode, Asudgaon, Bid, Adivali, Rohinjan, Dhansar, Karvale Budruk, Pisarve, Turbhe, Nagzari, Taloje Majkur, Ghot and Koynavele.

  • Stamp Duty Calculation:
    Stamp duty is calculated on the value stated in the sale agreement or the Ready Reckoner value (Minimum Rates Declared by Govt every year), Whichever is higher. Ready Reckoner Value is increased every year on 1st April. Ready Reckoner Rates 2017 for Nerul can be downloaded here Nerul Ready Reckoner Rates 2017
  • Stamp Duty Rounding off:
    If Stamp Duty amt payable is coming to Rs 10,049 then it will be rounded off to 10,000 only. Rupees 49 will not be considered.If Stamp Duty amt payable is coming to Rs 10,051 then the Stamp Duty payable will be rounded off to 10,100.
  • Stamp Duty and Registration Charge on Sale Deed (after sale agreement)
    Registration and Stamp Duty charge for Sale Deed (not sale agreement) is Rs 100 only and can be paid at the Registration office itself on the day of Registration.Stamp Paper of Rs 100 can be used for the same.
  • Depreciation (घसारा) on Stamp Duty: How to calculate Depreciation ?
    Other than this, on the resale of property, one can avail Depreciation ranging from 10% to 70% on the Ready Reckoner value of the Flat..but there is a catch !!
    First the Ready Reckoner value of the flat/house/rowhouse/land has to be calculated, then the depreciation % (घसारा) has to be subtracted from that. The result of that has to be compared against the actual price/cost of the flat mentioned in the sale agreement/sale deed. Whichever value is higher, that will be the rate on which stamp duty and registration is calculated. So there is no real benefit unless the agreement value/actual value is significantly lower than the Ready Reckoner Value…which is a small possibility cause nobody sells their property at lesser value than the Ready Reckoner Value.

Other than this, CIDCO Transfer (NOC) charges are to be paid to CIDCO if the property/land/flat or any real estate is being purchased in areas managed by CIDCO (From Airoli to Panvel). For more information on CIDCO transfer charges click this link

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