According to the Indian Stamp Act and the Tamil Nadu Stamp Act, property owners are required to pay stamp duty and registration fees to the state government. These are applicable to property transactions, including sales, leases, partitions, and resales. Stamp duty refers to a tax imposed by the state government on the transfer or sale of a property.

Tamil Nadu property registration charges, on the other hand, refer to the fees paid to the government for registering property documents in official records. These charges are a percentage of the property’s value, varying from state to state.

Stamp duty charges in Tamil Nadu: All you need to know

Stamp duty charges in Tamil Nadu are 7% of the property value. The registration charges are 4% of the total property value. The conveyance fees for stamp duty and registration charges are 7% and 1% of the property’s market value, respectively. The stamp duty charge on gifts and exchanges is 7% on the market value of the property, or whichever is of greater value.

The simple mortgage on stamp duty and registration charges is 1% of the Loan amount, or a maximum of Rs. 40,000, or Rs. 10,000, respectively. The mortgage with possession is 4% of the Loan amount for stamp duty and 1%  for registration charges, subject to an upper limit of Rs. 2 lakh. The cancellation charges for both are Rs. 50, while the sale agreement incurs stamp duty and registration charges of Rs. 20 and 1% on the amount advanced, respectively.

Factors affecting stamp duty charges in Tamil Nadu

Stamp duty is determined by several factors related to the property, including:

• Type of property (residential, commercial, agricultural, etc.)
• The market value of the property
• Age of the property
• The property’s location (suburban, metropolitan, rural area, or city)
• Intent of usage (residential or commercial)

Some states have different charges for men and women, but in Tamil Nadu, the stamp duty is the same for both genders. Amenities offered in the property, its location, and applicable government concessions may also determine stamp duty charges. If you want to buy a residential property with a pool and a gym, you may be required to pay a higher stamp duty.

Similarly, commercial properties are generally subject to higher stamp duty rates than residential ones. 

How are property registration charges calculated?

Tamil Nadu property registration charges are 4% of the property’s total value. If you are buying a residential property valued at Rs. 50,00,000, the registration charges would be 4% of Rs. 50,00,000, which equals Rs. 2,00,000. This fee is applicable for registering the property document in the state’s records, ensuring legal ownership.

Conclusion

It is best to educate yourself about property registration in Tamil Nadu beforehand to ensure you have adequate funds for a hassle-free procedure. Consult the official state government website or a legal professional for the most accurate and up-to-date information on property or land registration charges in Tamil Nadu.