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Stamp Duty and Property Registration Charges in Madhya Pradesh
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Madhya Pradesh is right at the centre of the country. If you are looking to buy a property with a home loan, it is important that you consider the stamp duty in Madhya Pradesh, as it will be an out of pocket expense for you.
When purchasing a property, it’s essential that you learn about the stamp duty and property registration charges. These two charges play a crucial role in determining the total amount spent while purchasing a property. Various factors such as the location and age of your property, your age and gender, etc., influence the stamp duty charges.
Below, we have enlisted various aspects of stamp duty in Madhya Pradesh.
What are Stamp Duty and Registration Charges in Madhya Pradesh?
Stamp Duty is a tax that is levied by the state government to validate a transaction. Under Section 3 of the Indian Stamp Act, 1899, it is mandatory to pay stamp duty while registering a property under your name. It legalises your property ownership. Without paying the stamp duty on your property registration documents in Madhya Pradesh, you won’t be considered the legal owner of the property purchased. These charges vary from state to state. Here are the charges mentioned below for the state of Madhya Pradesh:
Current Stamp Duty and Registration Charges in Madhya Pradesh
Gender
Stamp Duty rates
Registration Charges
Male
7.5%
3%
Female
7.5%
3%
Joint (Male+ Female)
7.5%
3%
Joint (Male+ Male)
7.5%
3%
Joint (Female+ Female)
7.5%
3%
Stamp Duty is calculated based on the total market value of the property. If the property’s market value is high, you will end up paying a high charge.
How to Pay Stamp Duty in Madhya Pradesh?
These Charges can be paid in Madhya Pradesh in the following ways:
E-Stamping
Franking
Physically
FAQs
What happens if you pay less Stamp Duty in Madhya Pradesh than required?
You must always pay the right stamp duty while getting your property registered. It is illegal to pay inadequate stamp duty for your property. If you do so, you can get heavily penalized and can even be imprisoned.
Who gives licence to service providers for e-stamping?
In Madhya Pradesh, the senior district registrar or district registrar has the power to give licences to service providers for e-stamping.
What are the details mentioned on an e-stamped document?
Details on an e-stamp will include the following:
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