Decoding the stamp duty and registration charges in Bangalore

Buying a property is not an easy task given the charges the buyer has to bear other than the cost of the flat. When you buy a home, it is not just the cost of the property you have to pay. There are additional charges like stamp duty, registration charges, VAT, etc. that the buyer of the home has to pay. These charges vary from state to state and are very important if you need to buy a home in your name. Many people are unaware of these charges and they fail to add this to their budget while buying a home. As per the recent rules, you should pay 5% of the total value of your registered property as stamp duty and 1% of the registered property as the registration charges in Bangalore.

stamp-duty-bhangalore

The stamp duty is levied by the state government on the guideline value of the property and the registration charges are levied for the registration of the documents. These charges are compulsory and vary from state to state. Let’s decode the stamp duty and registration charges in Bangalore that will be useful when you consider buying a property.

Stamp Duty is a way of documentation of the property on a stamp paper when buying and selling a property. When it is done on the stamp paper, it is considered that the documentation is legal. Stamp Duty is paid when buying the stamp paper and it is a tax collected by the government. The document with the stamp duty paid is considered to be the evidence of the sale of the property. The Stamp Duty is fixed by the respective state governments and differs from state to state.

Stamp Duty is calculated on the basis of the market value of the property. It is 5% of the total value of the registered property and the buyer has to bear it. Stamp papers of the value equivalent to the value of the stamp duty have to be purchased in the name of the people involved in buying and selling of the property.

The charge levied on the registration of the property is called the registration charges. The charge is actually the processing fee charged by the registering authority and implies that the property is registered in the name of the buyer and has all the legal rights. Registration charge is 1% of the total value of the property registered.

Horamavu is an area in Bangalore that is just 3km from K.R. Puram railway station. It is a very fast developing neighborhood in Bangalore and there are various new projects in Horamavu that are coming up by the established builders. For registering the project in Horamavu, you should be aware of the various charges like Stamp duty, registration charges, Vat, etc. and consider them into the budget of the flat.

While buying a property, stamp duty, registration charges, and various other charges play an important role in the total cost of the flat. Hence, always consider these charges when buying a property to avoid exceeding your budget.

Sree Sai Builders Project in Whitefield, Bangalore

Sree sai builder is the highly winning successful business owing to a simple philosophy. Now it has built new project in Whitefield named as Sai Sunrise apartment with immediate possession. This property has BBMP approval. It has 2 BHK apartments with covered area varies 1075 – 1120 sq.ft.

Sai sunrise apartments

Amenities which are available in Sai Sunrise Building:

  • Jogging track
  • Fitness gym
  • Party hall
  • Playground for children
  • Intercom facility, 24/7 security services
  • Electricity Backup
  • Covered car parking space

Individual Apartment Specification:

  • All external walls are double coated sponge finishing and smooth plastering with lime rendering finish for all internal walls.
  • All internal doors are framed with teak wood and shutter and all windows are aluminum glazed windows with safety grills.
  • Vitrified tiles are used for flooring with the size of 600*600 premium quality. Anti-skid tile flooring used for toilet and balcony.
  • In kitchen, stainless steel sink, thick black granite kitchen platform and 2” height ceramic glazed tiles cladding above the platform with electrical provision for purifier, refrigerator, grinder and washing machine in utility.
  • Standard quality of copper wiring with suitable points for power and light. TV and telephone points in living room and master bedroom. 31 tw and modular switches for each individual flats.
  • Interior walls are painted with emulsion paint and exterior walls are painted with water proof cement paint.
  • 24*7 bore water supply. Under ground water storage tanks are available with suitable capacity.
  • Solar water heater for each flat.
  • 6 passengers capacity lift are available for each flat.
  • Rainwater harvesting to recharge the bore well.

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Real Estate Overview in Whitefield

There are numerous reasons which contribute to the expansion of Bangalore. The main contribution is from IT sector and auto industry which was responsible for the growth of Bangalore as a real estate centre. Bangalore has been ranked as one of the best cities to live. It has a beautiful combination of contemporary and conventional thoughts. Bangalore is the best place for real estate business. Buying or renting an apartment in Bangalore is very well planned for future enhancements.

The major suburban locality and integral part of Bangalore is Whitefield. Whitefield become one of the most established locality after the introduction of Information Technology (IT) sector.

Connectivity

Whitefield Road via Mahadevapuram and HAL (Old Airport) Road through Marathahalli is well connected to the other parts of Bangalore. Bus service provides a good connectivity to the close areas. Also further connectivity from Byappanahalli to Whitefield will improve by phase II of namma metro.

Hospitality

For the best hospitality sector, Whitefield is the best choice to choose. Nearby areas are pointed out here:

  • Star hotels: MGM Mark Whitefield, The Zuri Whitefield, Vivanta by Taj, Bengaluru Marriott Hotel and Royal Orchid Suites
  • Guest Houses & Resorts: Mountain View Grand Resort, Transtree and Honeydew Habitat.
  • Restaurants: The Fat Chef, The Egg Factory, Boondock Bistro, Burger King, Herbs & Spices, Boondock Bistro.

Educational Institutions:

Some of the best colleges and international schools are available in Whitefield.

  • Famous Schools: Ryan International, Whitefield Global, St. Thomas and The Deens Academy School
  • Famous colleges: Sri Sathya Sai Institute of Higher Medical Sciences, Institute of Bioinformatics and Vydehi Institute of Medical Sciences & Research Centre.

Real Estate

In the recent times, realty development in Whitefield is rising steadily for several factors like excellent linking, existence of best services, accessibility of land at reasonable prices, etc. Whitefield became the best choice to investment. Some of the leading realty builders in Whitefield are following: