Stamp Duty & Registration Charges in Madhya Pradesh | Kotak Mahindra Bank

25 JUNE, 2021

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:

 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
    • E-Stamping or Electronic stamping is the process of electronic payment of Stamp Duty and Registration Charges
    • E-Stamping is done through ticketing and management of the Madhya Pradesh Government Property and Documents Application (SAMPADA) project
    • You would require a valid identity proof to register and pay the required Stamp Duty and Registration Charges online
    • To pay online, you must visit https://www.mpigr.gov.in

 

  • Franking
    • The Madhya Pradesh Government has authorised certain banking institutions and post offices to collect stamp duty and registration fee. You can visit these institutes and pay these charges.
       
  • Physically
    • You can physically purchase non-judicial stamp papers to pay the required stamp duty.


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:

  • Serial number or a unique identification number
  • Date and time of issuance
  • Amount of Stamp Duty paid
  • Name and address of the buyer
  • Property’s description
  • Digital signature, authorised barcode.
  • Security features

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Disclaimer: This Article is for information purpose only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. Bank make no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Newsletter. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from Kotak. Kotak, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein.