Think you've nailed your property budget? Think you've accounted for every expense for buying your dream home? Think again — overhead costs like taxes and government fees could add a hefty 7-12% to your final bill.
The biggest cost is that of stamp duty, a tax levied by the state governments on the sale of property. Currently, the highest stamp duty is levied by the Meghalaya government at 9.9% of the property value, followed by Kerala and Madhya Pradesh at 8% and 7.5%, respectively.
Among major cities, Hyderabad has the highest stamp duty of 7%. In Gurgaon too, male buyers have to pay 7% in stamp duty, whereas the rate is 5% for female owners and 6% in joint ownership. Mumbai and male buyers in Delhi pay 6%. Female buyers in Delhi enjoy a lower stamp duty of 4%.
The registration fee, another mandatory government charge, varies across states and ranges from ₹15,000 to 3% of the property value. In addition to fixed charges of stamp duty and registration fees, buyers often incur various miscellaneous costs. While not mandatory, these expenses arise from administrative processes and paperwork typically required during the property purchase.
Mint breaks down the overhead costs involved in property purchase and lists out taxes for five metros—Delhi, Gurgaon, Bangalore, Mumbai, Pune, Ahmedabad and Hyderabad.
Overhead costs
Bu hikaye Mint Ahmedabad dergisinin January 07, 2025 sayısından alınmıştır.
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Bu hikaye Mint Ahmedabad dergisinin January 07, 2025 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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