Property registration and stamp duty guidance needed? Is registration done on market value or property value?
Whichever is higher. In Karnataka including Bangalore, the stamp duty and registration cost is based on either market value or property value, whichever is higher. In order to avoid underpayment of stamp duty and registration cost, the revenue department fixes market value for every property. Once has to pay stamp duty and registration cost either on market value or property value, whichever is on the higher value. Below are the stamp duty and registration cost for an apartment building in Bangalore, Value less than Rs. 20 Lakh: Stamp duty: 2% of property value Surcharge Value : 0.1% of property value Cess Value : 0.2% of property value Total Stamp Duty : Stamp duty + Surcharge value + Cess value = 2.03% Total registration fees: 1% of property value Value between Rs. 20 lakh - 45 Lakh: Stamp duty : 3% of property value Surcharge Value : 0.1% of property value Cess Value : 0.3% of property value Total Stamp Duty : Stamp duty + Surcharge value + Cess value = 3.03% Total registration fe