Stamp Duty And Property Registration Charges In AP Updated

Stamp Duty And Property Registration Charges In AP [Updated]

Andhra Pradesh Property Registration Process

The property registration is mandatory in India as per the Indian Registration Act, 1908. The transfer of property is to be registered to obtain the rights of the property on the execution date of the deed. And accordingly, the House Registration Charges In AP will be levied. Let us look at the process of property AP Registration.

What are the Documents Required for AP Property Registration?

  • Passport-size photo of  property buyer and seller
  • Photo identification (Voter Card, Aadhar Card, Passport, etc.)
  • Verified copy of the original sale deed.
  • Copy of the latest property register card (to be obtained from the City Survey Department).
  • Copy of Municipal Tax bill.
  • Stamp Duty in Andhra Pradesh
  • The stamp duty is the percentage of the transaction value levied by the state government, on every registered sale.

Does Property Registration Benefits?

  • Registration of property helps for proper recording of documents which provide more authenticity.
  • To ensure the prevention of fraud, conservation of evidence, the transfer of title to the owner.
  • By registering property, the document will maintain an up to date public record.

Stamp Duty

Stamp Duty is collected during the transfer of property from one person to another.

  • The state government collects the amount and is governed under the Indian Stamp Act 1922.
  • The State government collects stamp duty, and it varies from one state to another.
  • The payment of stamp duty includes stamp duty, transfer duty fee, and AP land registration charges. It is calculated on the market value of the property.

Stamp Duty Payment Process

  • If you buy a property, then registration of the new property is mandatory. Also, you have to pay stamps and registration charges in AP.
  • With the AP Registration and payment of fees, you will become the owner of your property legally. This document helps in any future unexpected property disputes.
  • You will also have a duplicate copy of your sale or transfer deed in Sub-Registrar’s office. It will help in the case if you lose your original documents.

Types of Charges

  • Sale Deed
  • Gift Deed
  • Exchange Deed
  • Partition Deed
  • Lease Deed (where the period of lease is more than 12 months)
  • Transfer Deed
  • Mortgage Deed
  • Power of Attorney (General or Special)

Calculation of the Stamp Duty Charges Differs Based on Below Features:

  • Property location:  A property located in an urban area attracts more stamp duty compared to rural areas.
  • Property type: Lower stamp duty is charged for a residential property (flat/apartment) compared to a commercial property (industries/ commercial complex/ hotels).
  • Age of the property: A new property has more stamp duty than older/resale properties.
  • Gender of buyers: A female buyer can get a rebate on the stamp duty charges.
  • Age of buyer: A senior citizen can also get a rebate on the stamp duty charges.

Updated Information: Property Registration Charges In Andhra Pradesh in 2019:

The state government fixes stamp duty. For example, in Andhra Pradesh, the base Andhra Pradesh Stamp Duty rate of apartment/ flat is 5%, transfer duty is 1.5%, and the registration fee is 0.5 %. Stamp Duty fee is imposed on the absolute estimation of the property.

To know further details on AP land registration charges and stamp duty, go through the Andhra Pradesh State government official website.http://registration.ap.gov.in/

Property Stamps and Registration charges in Andhra Pradesh in  2018.

               Type Of Fee

   Registration Rates

    Stamp Duty Rates

Transfer Duty Charges

                       Sale

                 1%

                 5%

           1.50%

 Gift (Gift Within The Family)

                0.5%

                 2%

              0

                     Exchange

                0.5%

                 5%

            1.50%

                     Partition

                1000

                 2%

              0

                     Release

                1000

                 3%

              0

 Agreement Of Sale Cum     General Power Of Attorney

                    0

                 0

              0

How to Calculate the Stamp Duty and Registration Charges?

The stamps and registration AP charges are calculated using the formula given below:

  • Where property value is (Higher of Ready Reckoner Rate or Actual Transaction Value)
  • Ready Reckoner Rate/Circle Rate means, it is the minimum value of the property that is fixed by the state government. And, stamp duty is calculated as the higher of ready reckoner rate or actual transaction value.
  • Many property transactions in India take place by the market rate in a particular locality. The stamp duty and registration fees are paid by the buyer are calculated from the market rate. In rare cases, where the RRR is higher, the stamps and registration fees in Andhra Pradesh will be calculated on the RR rate.

For Example:

Assume, the property value in a particular area has RRR (Ready Reckoner Rate) of Rs.5000 per sq.ft. However, if the market price of the property is Rs. 6000 per sq.ft, the buyer has to pay stamp duty and AP land registration charges on Rs.6000 per sq.ft, as it is higher.

Let you know in brief about the charges with the below examples.

Case 1:

If the Ready Reckoner Rate is Rs 70,00,000 and the Actual Transaction Value is Rs 80,00,000 then stamp duty @5% is calculated as

Stamp Duty = 5% of (Higher of Ready Reckoner Rate or Actual Transaction Value)

 (i.e.) 5% of (Higher of Rs 70 lakhs or Rs 80 lakhs)

80, 00,000*5/100

= 4 lakhs

Registration charge =1% of (Higher of Ready Reckoner Rate or Actual Transaction Value)

(i.e.) 1% of (Higher of Rs 70 lakhs or Rs 80 lakhs)

8000000*1.0/100

= 80,000

Transfer duty =1.5% of (Higher of Ready Reckoner Rate or Actual Transaction Value)

(i.e.) 1.5% of (Higher of Rs 70 lakhs or Rs 80 lakhs)

8000000*1.5/100

= 1, 20,000

Therefore, the amount of the stamps and registration charges in Andhra Pradesh  is 6,00,000

Stamp Duty = Rs 4,00,000

Registration Charge = Rs 80,000

Transfer Duty = Rs 1, 20,000

Total Registration Cost = 4,00,000+80,000+1,20,000 = 6, 00,000

Case 2:

If the Ready Reckoner Rate is Rs 1 crore and the Actual Transaction Value is Rs 70 lakhs, then stamp duty @5% is calculated as

Stamp Duty =5% of (Higher of Ready Reckoner Rate or Actual Transaction Value)

(i.e.) 5% (Higher of Rs 1 cr or Rs 70 lakhs)

 = 5/100 * 1 crore = Rs 5,00,000

Registration charge =1% of (Higher of Ready Reckoner Rate or Actual Transaction Value)

 (i.e.) 1% of (Higher of Rs 1 cr or Rs 70 lakhs)

 =1/100 * 1 cr = Rs 1,00,000

Transfer duty =1.5% of (Higher of Ready Reckoner Rate or Actual Transaction Value)

(i.e.) 1.5% of (Higher of Rs 1 cr or Rs 70 lakhs)

 =1.5/100 * 1 cr = Rs 1,50,000

Therefore, the amount of the stamps and registration charges are 7,50,000

Stamp Duty = Rs. 5,00,000

Registration Charge = Rs 1,00,000

Transfer Duty = Rs 1,50,000

Total Registration Cost = 5,00,000+1,00,000+1,50,000 = 7,50,000

Do you plan to buy a property in Andhra Pradesh, it is essential to know about the AP land registration documents online process and charges involved in transactions. Property registration is one of the crucial parts of property transactions. Look at the below details to know detailed information of stamp duty and registration charges and process in Andhra Pradesh.

The Indian Registration Act 1908 in section 17 all transactions related to the transactions every property should be registered within six months of the sale deed in the Registrar’s Office. The advantage of the property registration in Registrar’s Office is it helps to preserve the title of ownership and future disputes. Also, if any conflicts or misleading of property happens, it is used as a proof for your property. You can register your property by paying stamp duty and registration charges of Stamps and Registration AP. This stamp duty and registration charges are vary based on the area of the property located.

In the process of property registration AP, you have to pay the fee includes registration charges, transfer duty, and stamp duty. These charges are paid as per the provisions of the state Gram Panchayats Act 1964 and Andhra Pradesh Municipalities Act, 1965.

How much is stamp duty paid in case of “gift settlement deed” in Andhra Pradesh?

  • In case of any exchange, Andhra Pradesh stamp duty rate is 5%, transfer duty is 1.5%, and the Gift Deed Charges in Andhra Pradesh is 0.5% minimum is Rs 1000 and maximum is Rs 10000 of the higher of the market value of the apartment or flat.
  • Pay stamp duty and registration charges in agreements of transfer:
  • Deeds like Sale, gift, exchange, partition, lease where the period of lease is more than 12 months, right transfer document, mortgage, and power of attorney.
  • Therefore, you should pay Stamp Duty Charges and Gift Deed Registration Charges In Andhra Pradesh for resale property or gifting an apartment or flat to relatives.

Payment Procedure of Stamp Duty Charges and registration fee in Andhra Pradesh

 Stamp Duty Charges and registration fee in Andhra Pradesh payment is explained below points:

  • First, you have to fill the application form available on the website of the Registration and stamp department.
  • In this, you have to fill in the details of your property which are registered at the Sub-Registrar Office.
  • This process will reduce your time that will be taken in the office of Sub-Registrar. Submit these details in the required format online. So, the applications can be processed without any delay. Also, the whole process is available online.
  • The Sub-Registrar Officer add the details in the system to create accurate encumbrances.

The application has the below information:

  • Type of deed (Sale Deed or Sale agreement, etc.).
  • Buyer and seller full details
  • Details of the property.
  • Property Boundaries.
  • Apartment or Flat Structure.
  • The market value of the property.
  • The final value of property charges.
  • Stamp duty payment charges.
  • After the payment of these Charges, you can book a slot for registering the document at the Sub-Registrar Office at your required time.
  • Later you have to go to the Sub-Registrar Office according to the booked time slot for document presentation.
  •  to fill the pre-registration application form, scheduling a time slot, and pay stamp duty is presented clearly in the following points
  • Submit the below AP Land Registration Documents Online at Sub-Registrar office:
  • The original document with the signs of all parties.
  •  Demand Draft which has full payment of stamp duty, transfer duty (if any), registration fees, and charges of the user.
  • Buyer photo form of the seller and witnesses as per the Section 32A witnesses who can identify the parties and their identity.
  •  Buyer and seller address proofs.

 At the sub-registrar office, you can submit any one of the  identity proofs like

  • Aadhaar card
  • Passport
  • Driver’s license
  • PAN Card
  • Ration card
  • Voter ID
  • A photograph of the property
  • Original General Power of Attorney or a Special Power of Attorney with a photocopy
  • Copy of Link AP Land Registration Documents Online.
  • Agricultural properties Web land copy.
  • Copy of Original Pattadar passbooks and title deeds 
  • Verified documents, the challan of actual fee, and e-KYC completion, documents of sub-registrar.

You can follow the same procedure for registering your flat/apartment as well.

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By: Shailaja K