Stamp Duty and Registration Fees in Ranchi 2024: The Indian Registration Act of 1908 mandates that sale deeds be registered. The only document that formally certifies a buyer’s ownership of real estate is a registered sale deed. When registering a house in Ranchi, the capital of Jharkhand, buyers must pay the registration cost and stamp duty, just like they must for any other home purchase in the nation. This tutorial outlines these fees and how they will affect the total amount you pay for buying a house.
What is the stamp duty?
States in India impose stamp duty as a levy on several types of transactions to raise money. Since land is one of the most traded assets, jurisdictions impose stamp duty at different rates on transactions involving immovable property. State-by-state variations in rates result in an average range of 3% to 8% of the property value.
Stamp duty and registration charges in Ranchi in 2024
| Gender | Stamp duty | Registration charge as percentage of the property value |
| Men | 4% | 3% |
| Women | 4% | 3% |
| Joint | 4% | 3% |
Stamp duty and registration fees amount to 7% of the deal value for property buyers in Ranchi, regardless of gender. The buyer will have to pay an extra Rs 3.50 lakh for these duties, say if the property is valued at Rs 50 lakh.
The Jharkhand government recently rescinded the registration waiver it had given to women. In 2017, the government announced that women would only need to pay a symbolic registration fee of Re 1 for purchases up to Rs 50 lakhs to empower women. However, the state administration reversed the program in May 2020 as a result of the waiver’s enormous financial loss to the public coffers.
Stamp duty on other deeds in Jharkhand in 2024
| Instrument | Stamp duty | Registration fee |
| Adoption deed | Rs 42 | Rs 1,000 |
| Mortgage | 4.2% | 2% |
| Partition | Rs 25 where exceeds Rs 1,000 but does not exceed Rs 5,000. | 3% |
| Partition | 5.25% of the value of deed where exceeds Rs 5,000 but does not exceed Rs 50,000. | 3% |
| Partition | 6.3% of the value of deed where exceeds Rs 50,000 | 3% |
| Bond | Rs 25 where exceeds Rs 1,000 but does not exceed Rs 5,000. | 3% |
| Bond | 5.25% of the value of bond where exceeds Rs 5,000 but does not exceed Rs 50,000. | 3% |
| Bond | 6.3% of the value of bond where exceeds Rs 50,000 | 3% |
| Conveyance | 4% | 3% |
| Partnership | Rs 42 | Rs 1,000 |
| Power of Attorney | Rs 31.50 | Rs 1,000 |
| Trust | Rs 45.25 | Rs 1,000 |
| Will | None | Rs 1,200 |
| Gift where the value of the gift does not exceed Rs 1,000. | Rs 31.50 | 3% |
| Gift where the value of the gift exceed Rs 1,000 but not Rs 10,000. | Rs 31.50 for the first thousand; 21 for every 500 or part thereof by which the value exceed Rs 1,000 | 3% |
| Gift where the value of the gift exceed Rs 10,000. | The fee under clause (ii) in addition to Rs 31.50 for every 500 or part thereof by which the value of the gift exceed Rs 10,000 | 3% |
How is the stamp duty charge in Ranchi calculated?
Buyers are responsible for paying stamp duty, which is based on the value of the property. This figure cannot be less than the circle rates set by the government and periodically updated. The stamp duty will be determined based on the larger of the two figures.
- Value averaged according to the circular rate.
- Purchase price.
In the example above, we assume that a 1,500-square-foot property will be purchased for Rs 1,000 per square foot. To register a property, it must be worth at least Rs 15 lakh (1,500 x 1,000). It is not possible to register a property that sells for less than Rs 15 lakh, even if the seller is willing to sell it for Rs 14 lakh. If the land is being sold for Rs 20 lakh, it must be registered at that price.
In any event, while purchasing real estate in Ranchi, 7% of the total will be paid for stamp duty and registration. Ranchi buyers can go visit regd.jharkhand.gov.in/jars/website to perform the computation.
Documents required for property registration in Ranchi
- Agreement to sale
- Sale deed
- Encumbrance certificate
- Property tax receipts
- No-objection certificate
- Power of Attorney, if applicable
- Stamp duty and registration fee payment proof
- Occupancy certificate for new buildings
- Completion certificate for under-construction buildings
- TDS deduction certificate (applicable on properties worth over Rs 50 lakh))
- The PAN Card of the buyer
- The PAN Card of the seller
- The Aadhaar card of the seller
- The aadhaar card of the 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
Ranchi’s online stamp duty payment
In Ranchi, you can complete the entire stamp duty payment and property registration process offline. Nonetheless, purchasers have the option to pay the stamp duty and registration fees online, just like in many Indian states. To do this, go to www.shcilestamp.com, the website of the Stock Holding Corporation of India. By entering your email address and mobile number, you might register on the website. After registering, choose your state and the SHCIL branch that is nearest to your city by logging in. Generate a reference receipt after completing all essential fields. Contact the closest SHCIL branch with this receipt to obtain a copy of the e-stamp certificate.Generate a reference receipt after completing all essential fields. Contact the closest SHCIL branch with this receipt to obtain a copy of the e-stamp certificate.
How can I pay my online stamp duty?
- New SHCIL users should click “Register Now” to get started.
- Step 2: Complete the necessary fields. Select a User ID, password, and security question, then enter the information for your bank account.
- Step 3: You can use your user ID and password to access the services after you receive confirmation through an activation link provided to the email address you registered.
- Step 4: Enter your password and activate your User ID to access the online module.
- Step 5: From the drop-down menu, choose the state. Select “Nearest SHCIL Branch” after that, and then fill out the necessary fields (First Party Name, Second Party Name, Article No., Stamp Duty Paid By, and Stamp Duty Amount). Any payment made using a debit card, NEFT, RTGS, or FT will come with a reference number.
- Step 6: To obtain a final printout of the e-stamp certificate, citizens must visit the closest Stock Holding Branch with a printout of their Online Reference Acknowledgment No.
Note: The actual bank and payment gateway fees are the responsibility of the citizens.
Explaining Stamp Duty and Registration Charges in Lucknow
How can I pay Ranchi stamp duty offline?
In Ranchi, homebuyers have two options for paying stamp duty offline:
Through franking through authorized banks
In India, banks use franking to pay stamp duty by stamping a property document or affixing a denomination to provide evidence of payment. Banks and other authorized agents use a franking machine to attach the paperwork. The buyer can pay the stamp duty amount at the approved bank connected to the SRO with a demand draft or cash.
Through authorized stamp vendors
An authorized stamp vendor can assist homebuyers in contacting the sub-registrar in the area where the property is located. Following a comprehensive assessment procedure, the responsible officer will advise you of the stamp duty due for that particular document. Thereafter, you can purchase equivalent non-judicial stamp papers from a local authorized stamp vendor.
How can I check Ranchi’s deed registration slots?
After registering a property, you can use the e-Nibandhan portal in Ranchi to see whether any appointment times are still available for property registration.
- Step 1: To confirm the availability of an appointment time, go to the e-Nibandhan portal.
- Step 2: To continue, provide the application ID, presenter information, email address, and mobile number. Then, choose an appointment date.
To Conclude,
It is a legal requirement for all homebuyers to pay stamp duty. The planning stage of your house purchase is the critical time to take this additional cost into account, as these fees significantly increase the total cost of purchasing a property. Please be aware that banks do not factor in registration fees or stamp duty when valuing real estate. This implies that you will have to pay for this out of pocket and that it is not something you can borrow from the bank. Additionally, keep in mind that Section 80C of the Income Tax Act allows you to deduct the amount you spend on stamp duty and registration fees. Section 80C covers this relief under a yearly deduction cap of Rs 1.50 lakh.
