3 months, 1 week ago

How taxes and fees add 7-12% to your property purchase cost

Think you’ve nailed your property budget? Currently, the highest stamp duty is levied by Meghalaya government at 9.9% of the property value, followed by Kerala and Madhya Pradesh at 8% and 7.5%, respectively. Overhead costs A prospective buyer can expect to pay broadly under five heads–stamp duty, registration fee, brokerage, lawyer’s fee to vet the property papers, and notary fee. However, it doesn’t cover the mandatory stamp duty and registration charges as well as the costs associated with property title verification, legal advice and documentation," said Abhishikta Munjal, chief risk officer, IIFL Home Finance, adding that proper planning for these expenses ensures that buyers are not caught off-guard during the purchase process. “Both, the government fees of stamp duty and registration and the other charges of brokerage, legal fee, society transfer fees etc, can be added to the cost of acquisition," said Gautam Nayak, partner, CNK & Associates LLP.

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Delhi Mumbai Hyderabad Property Registration Costs Duty Pay Fees Capital Gains Bangalore Cost Metro Add Fee Gurgaon Gst Buyers Paid Purchase Stamp Stamp Duty Overhead Costs Property Purchase Property Verification Government Fee Male Buyers

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