Starting on April 1, 2022, the Maharashtra government will impose a 1% metro cess in addition to the stamp duty on property purchases in Mumbai, Pune, Thane, and Nagpur. This new fee aims to raise funds for the development of transportation infrastructure projects. Consequently, due to this metro cess, stamp duty and registration charges in Mumbai have risen to 7%. In Pune and Nagpur, the stamp duty has increased from 7% following the introduction of the metro cess.

Thus, if a person (male) buys a property for Rs 6 crore in Mumbai’s Juhu, he will have to pay a stamp duty of 6%, whereas for the same property, a female homebuyer will pay 5% for stamp duty.

Women in Mumbai are eligible for a 1% stamp duty charge refund. Only residential real estate is permitted. Additionally, joint registration is not eligible for this rebate.

Additionally, be aware that the Maharashtra government has lifted the 15-year cap placed on female homebuyers in exchange for a 1% stamp duty refund. This amendment allows women homebuyers to sell their properties to men at any time, even after they have taken advantage of Maharashtra's 1% stamp duty rebate for women.

According to the transaction value stated in the sale agreement, buyers must pay the stamp duty. It should be noted that in Mumbai, real estate cannot be purchased or sold for less than the ready reckoner (RR) rates set by the government. This implies that the stamp duty must be computed following the current RR rates, which must also be used to determine the property value. The buyer will be required to pay stamp duty on the higher amount if the house is registered at a value higher than the RR rate. The ready reckoner rates will be used to determine the stamp duty if the property is being registered for less than the RR rates.

Suppose you are buying a property with a carpet area of 800 sq ft in an area where the RR rate is Rs 5,000 per sq ft. The property's RR-based value would be 800 x 5000 = Rs 40 lakh.

If the property is registered at Rs 40 lakh, the buyer will pay 2% of this amount as stamp duty, which amounts to Rs 80,000.

If the property is registered at an amount lower than Rs 40 lakh, the buyer will still have to pay 2% of Rs 40 lakh as stamp duty since the property cannot be registered below the RR rate.

If the property is registered at Rs 50 lakh, the buyer will be required to pay 2% of Rs 50 lakh as stamp duty, totaling Rs 1 lakh.

• Agreement to sale

• Sale deed

• Encumbrance certificate

• Property tax receipts

• No-objection certificate

• Power of Attorney, if applicable

• Proof of stamp duty and registration fees

• Occupancy certificate for new buildings

• Completion certificate for under-construction buildings

• TDS certificate (for properties value over Rs 50 lakh)

• PAN Card of buyer

• PAN Card of seller

• Aadhaar card of seller

• Aadhaar card of buyer

• Passport-size photos of buyer and seller

• ID proof of buyer

• ID proof of seller

• ID proof of witnesses

• Address proof of buyer

• Address proof of seller

• Address proof of witnesses

The stamp duty and registration fees associated with a real estate transaction in Mumbai can be influenced by several factors:

Property type: The type of property involved may have an impact on the stamp duty and registration fees. For example, the stamp duty rates assigned to residential and commercial properties may differ.

Property location: When it comes to stamp duty and registration fees, the property's location is crucial. Maharashtra may have different stamp duty rates and laws in different areas.

Property value: The value of the property may be used to determine the stamp duty and registration fees. The stamp duty on a real estate transaction is usually expressed as a percentage of the sale price.

Ownership type: The stamp duty and registration fees may also be affected by the type of ownership. For instance, stamp duties on properties owned by corporations may be higher than those on properties owned by individuals.