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|11th August 2009, 15:41||#1|
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Land registration charges in Kerala
Does anyone know the present land registration charges in Kerala ? I know there are different rates for property in panchayat and muncipality, but don't know the exact costs. Can any one tell me the total costs involved in registering a property in a panchayat ? (stamp duty, registration cost, deed writer's fees etc)
|19th December 2009, 17:58||#2|
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Join Date: Jun 2007
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It is in % terms.
There are two components to this - stamp duty, which is different for Municipalities and Panchayaths; and Registraion fees.
Stamp duty is, IIRC, 12.5 % for panchayaths; and 15.5 % for Municipalities. It is paid on the total value of the property - you have value the land and buildings (if any) separately.
I am not sure fo the exact figures, so please feel free to ask again if you want specific figures; I will confirm.
Registration fee is 2% flat.
Add an hefty amount, anywhere upwards of 1.5K for document writer (depending on actual - not declared valuation) and another 3-10K, as claimed "bribe". Expect around 15K total fees for a 10 Lakh property without any undervaluation. :-P
Both the buyer (IIRC) and seller will have to be present, and provide with passport size photos and identity proofs.
Remember to obtain the documents relating to "pokkuvaravu" from the seller at the time of registration.
Kerala has the highest stamp duty rates in India, and any attempt at reform is being defeated by the babus. With reasonable stamp duties, undervaluation will disappear, and with that, so will opportunities for bribery.
Edit 2:- Remember that the registrar really has no powers to reject a document presented for registration, except where the situation is that as per the document, the stamp duty paid is less than what is payable.
Last edited by BaCkSeAtDrIVeR : 19th December 2009 at 18:01.
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