All About Registration --> the process and the cost to customer

Not many people are sure about the registration process and how much it would cost to the customer. Hence, I thought of writing this post. In this post, I would try to cover all the expenses related to the registration process and explain each of them with some numbers. The below process holds good if you are planning to buy an indepdendent house/villa.

Registration (Stamp Duty): Goverment assigns a value to the land involved in the project. Let us assume that the value of land as per govt. standards is 6000 INR per sq. yard. Now, stamp duty is 9.5 % of the value.

If you chose a 200 yard sq. yard plot, you have to pay 9.5% of 200*6000.

VAT: VAT varies as per constructed area which will typically be in sq. feet. This also depends on the agreement of concession. VAT is 1% of the agreement of concession.

If the value per SFT is 2000 as per the agreement, a 2500 sq. ft of constructed area would attract a VAT of 2500*2000*1%

Service tax: Service tax 4.08% of the agreement of concession.

The above three components cover the complete registration cost (in the case of independent house).