Most people try their best to reduce the stamp duty payable on the purchase of property by any means. Some resort to giving wrong cts, area, gat or survey number while others falsely state the age of the building or the condition and amenities of the same.
But most of them are not aware that stamp duty evasion is a serious offence which can sometimes cause a fine many times that of the evaded amount and imprisonment too. Adjudicated documents can be reopened even 6 years from the date of adjudication.
Stamp duty cases can be reopened even 10 years after the document is executed and registered.
Stamp duty is calculated on the basis of the Ready Reckoner rates released by the govt every year. These rates vary from area to area. Generally, these rates are lower than the market rates.
Stamp Duty on Gift Deeds Depends on how the giver is related to the taker.
Father to Son gift deed its 1% stamp duty and Rs 200 as registration.
From Son to Father its 4% and 1% as registration.
These are the rates in Maharashtra as of 2025 May
-Mayur Singh – Sky Properties
The age of the building: Depreciation is allowed on a building 2 years old or more. Between 5% to 70% depreciation can be claimed on the total value of the structure (land plus building).
Whether a lift is present or not: If a lift is present in the building, its value will increase by 5% to 20%,depending on the floor that the flat is situated on.
Reduction can also be claimed if the building is 4 stories high without lift.
Between 5% to 20% reduction can be claimed, depending on the floor. 1st floor will get 5% reduction while 4th floor and above can claim 20% deduction.
Value to be considered in building without lift/Elevator
| Serial Number | Floor | Decreased Value of Flat to be considered |
|---|---|---|
| 1. | Ground Floor | 100% (No Decrease) |
| 2. | Stilt / First Floor | 95% |
| 3. | Second Floor | 90% |
| 4. | Third Floor | 85% |
| 5. | Fourth Floor and above | 80% |
Increase in valuation in Buildings with Lift/Elevator
| Serial Number | Floor | Increased Value of Flat to be considered |
|---|---|---|
| 1. | Ground Floor to 4th floor | No increase |
| 2. | Fifth to 10th Floor | 5% increase |
| 3. | Eleventh to 20th Floor | 7.5% increase |
| 4. | Twenty First and above | 10% increase |
Depreciation Calculation Table for Stamp Duty
| Age of Building | Type of Construction | Depreciation allowed |
| 0-2 years | RCC | 0% |
| 2-5 years | RCC | 5% |
| 5 years and above | RCC | 1% per year (Sub to max of 70%) |
NOTE : Depreciation is only available for properties which are sold at Ready Reckoner rates or for gift deeds without monetary consideration.
Mayur Singh (Sky Properties)
For properties sold at prices higher than Ready Reckoner Prices, no Depreciation is allowed.
Ready Reckoner Rates Can be found on this website for Maharashtra
If a govt body like SBI, Income tax, LIC etc sells a property, the price it sells at is considered the correct market price for the basis of valuation.
Sky Properties, Nerul, Navi Mumbai
Address A-1, 7,2, Sneh Co Op Society, Plot no 16, Sector 19a, Nerul, Navi Mumbai 400706
Call Us 9987452642
mayur@navimumbaiestate.in
| Services Offered by us | Charges |
| CIDCO Transfer only | 15,000 |
| Mortgage NOC only | 15,000 |
| CIDCO Transfer + Mortgage NOC | 20,000 |
| Only Drafting/Documentation | 5,000 |
| Drafting and Registration of Sale Agreement/Sale Deed | 10,000 |
| Brokerage (Purchase/Sale transaction) | 2% |
| Brokerage (Rentals) | 1 month rent/year |
| Consultation over Phone/Whatsapp/Zoom/Google Meet | 5,000/30 mins |
| Property Tax Name Transfer | 10,000 |
| Water Bill Name Transfer | 10,000 |
This was extremely helpful!
hi mayur,
I am buying a 1BHK from a builder in Ulwe. The building has a OC. I know I have to pay 5% stamp duty & Registration fee of 1%. I have been told that because the building has a OC, there is no need for me to pay VAT or service tax. Please let me know if I am correctly informed.
You may have to pay VAT.You don’t have to pay service tax.
Thank you.