According to Section 21, the difference in stamp duty should be paid for each instrument registered outside the State of Rajasthan, if the instrument in question refers to all or part of property in Rajasthan. The tax must be paid from a single drawing or deed. This law has already been amended in 2001 (by the Rajasthan Finance Bill, 2001), 2004 and 2016. In addition, stamp duty in Rajasthan is also regulated by the rules of Rajasthan Stamp 2004. The last amendment to the law on stamps in Rajasthan was issued in 2016 by the Rajasthan Finance Bill, 2015 by the Department of Finance (Department of Taxation). In the case of a new property, you are required to pay a stamp duty levied by the state government. Stamp duty on your property is used to validate the property registration that is made on your behalf. Stamp duty also legalizes the ownership document. If you do not pay stamp duty, you are not considered the rightful owner of the property in question. To check the amount of stamp duty you have to pay, you must enter this – The state in which you live – The total value of the property – Once you click Send, you will receive the amount of stamp duty that you must pay. The amount you have to pay varies from state to state, and in some countries, even by gender. THE IBHL stamp duty calculator helps you find the exact amount you need to pay as stamp duty in each state or city.
In addition to stamp duty, there are also registration fees, taxes and surcharges. Overall, therefore, one could pay between 7 and 10 per cent of the market value of the property. The registration form proves that the property is yours. In principle, stamp duty is levied to validate your registration contract. The amount of stamp duty you have to pay depends on different things. The most important of these is the market value of the property. The value is determined according to a Stamp Duty Ready Reckoner in cities like Bombay, which is revamped from time to time to reflect the true market rates in force at the time. As a general rule, upon arrival at the amount you must pay, the account is taken into account, as well as the contractual value of the property, and the highest value is used for the calculation of stamp duty.