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18 JUNE, 2021
Have you recently bought a home in Goa or have you started to consider investing in one? If you have, you are probably just realizing that the price of house is not the only charge associated with buying a house. The most common charges that homebuyers must pay on purchasing a property are stamp duty and registration charges. It is mandatory and there’s no way to skip it. When it is your first time investing in real estate, you shall find several such expenses linked with buying a house.
Stamp duty is a fixed percentage of tax that State governments levy based on the market value of your property. This tax is charged on the transfer of assets from the seller to the buyer and varies from one state to another. On paying the stamp duty, your property documents become legally valid. But registration charge is a sum you pay to get the land or property registered in your name and this can differ based on region as well.
How Is Stamp Duty in Goa Calculated?
Usually, stamp duty is a fixed percentage of the market value of the property. However, the stamp duty charges depend on several factors related to the property you are purchasing and the buyer, which is you. So, look at the aspects that play a role in deciding the stamp duty in Goa:
The stamp duty charges in Goa are the same for men and women. Learn about the stamp duty and property registration charges applicable in Goa:
Value of Property
Stamp Duty Charges
Up to Rs 50 Lakh
Between Rs 51 Lakh and Rs 75 Lakh
Between Rs 75 Lakh and Rs 1 Crore
Above Rs 1 Crore
How Can You Pay Stamp Duty in Goa?
There are three methods for making stamp duty payment in Goa, which you can understand below:
Property registration process in Goa
Frequently Asked Questions (FAQs)
Do women homebuyers get any concession on stamp duty or property registration charges in Goa?
No, the stamp duty and registration charges in Goa are same irrespective of the buyer’s gender.
Can you avail any tax benefits on stamp duty and property registration charges?
Yes, you can claim tax benefits on the stamp duty and registration charges under Section 80C of the Income Tax Act.
What documents are required for stamp duty and property registration charges in Goa?
You can keep the following documents ready while paying your stamp duty and property registration charges in Goa:
Thus, it is important to know about the stamp duty and registration charges if you are planning to buy a house in Goa with home loan.
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