Estimated reading time: 6 minutes
When buying property in Goa, buyers must plan beyond just the purchase price to account for significant additional costs like stamp duty and registration fees. These charges vary by state, and understanding them is crucial for accurate budgeting of your property purchase in Goa.
Looking for low-interest rate home loans in Goa?
Stamp Duty Charges in Goa
In Goa, stamp duty and registration charges are structured based on the property’s market value. As of December 2024, the applicable rates are:
| Property Value | Stamp Duty | Registration Charges |
|---|---|---|
| Up to ₹50 lakh | 3.5% | 3% |
| Above ₹50 lakh up to ₹75 lakh | 4% | 3% |
| Above ₹75 lakh up to ₹1 crore | 4.5% | 3.5% |
| Above ₹1 crore up to ₹5 crore | 5% | 3.5% |
| Above ₹5 crore | 6% | 3.5% |
For specific transactions:
- Agreement for Sale: 2.9% stamp duty and 3% registration charges.
- Deed of Rectification: Fixed fee of ₹500 for both stamp duty and registration charges.
- Deed of Conveyance in Favour of Housing Co-operative Societies: 3% stamp duty and 1.5% registration charges.
Please note that these rates are subject to change based on government policies. It’s advisable to consult the official Goa Registration Department or a legal expert for the most current information.
Understanding stamp duty charges is essential for anyone looking to buy a home or invest in property. Here are the stamp duty and registration charges in Goa for men and women:
| Gender | Stamp Duty Charges |
|---|---|
| Female | Upto Rs 50 lakh – 3.5% Rs 50 – Rs 75 lakh – 4% Rs 75 – Rs 1 crore – 4.5% Over Rs 1 crore – 5% |
| Male | Upto Rs 50 lakh – 3.5% Rs 50 – Rs 75 lakh – 4% Rs 75 – Rs 1 crore – 4.5% Over Rs 1 crore – 5% |
Additional Notes:
• There are no concessions for women, senior citizens, or backward classes in Goa regarding stamp duty and registration charges.
• A penalty of up to 200% may be imposed for failure to pay stamp duty on time.
• The rates were last updated in October 2022, reflecting an increase for properties above certain thresholds.
Also Read – The True Cost of Living in Goa in 2024
How to Pay Stamp Duty in Goa?
To pay stamp duty and registration charges online in Goa, follow these steps:
1. Access the National Generic Document Registration System (NGDRS):
- Visit the NGDRS Goa portal.
- Register as a new user by selecting “Citizen” and providing the required details.
- Log in using your credentials.
2. Initiate Document Entry:
- After logging in, navigate to “Document Entry” and select “New Document Entry.”
- Fill in the necessary details about the property, including district, location, property type, and usage.
3. Provide Party Details:
- Enter information about all parties involved, such as buyers and sellers.
- Save each entry after completion.
4. Upload Supporting Documents:
- Attach required documents, including identification proofs, property ownership documents, and any other relevant paperwork.
5. Calculate Stamp Duty and Registration Fees:
- The system will automatically calculate the applicable stamp duty and registration fees based on the property details provided.
6. Generate and Pay E-Challan:
- An e-Challan will be generated for the calculated amount.
- You can proceed to payment by clicking on “Pay,” which will redirect you to the Goa e-Challan Payment Gateway.
- Complete the payment using available online methods such as net banking, debit card, or credit card.
7. Schedule an Appointment:
- After successful payment, return to the NGDRS portal to schedule an appointment with the Sub-Registrar’s Office.
- Choose a convenient date and time for document verification and final registration.
8. Visit the sub-registrar’s Office:
- On the scheduled date, visit the selected Sub-Registrar’s Office with all original documents and their copies.
- Complete the verification process to finalize the registration.
For detailed instructions and assistance, refer to the Registration Department of Goa. Ensure all information provided is accurate to facilitate a smooth registration process.
Overview of Stamp Duty and E-Stamping
What is Stamp Duty?
Stamp duty is a tax levied by state governments on property transaction documentation. Buyers are required to pay this duty when purchasing a property, which helps to legalize and validate the property’s ownership document.
Factors Affecting Stamp Duty Charges in Goa
When securing a home loan in Goa, it’s vital to consider the various factors that affect stamp duty charges. These costs can significantly impact the overall affordability of your property purchase, influencing your budgeting and financial planning.
-
- Property value: The cost of the property directly influences the stamp duty amount. Higher-valued properties typically incur larger stamp duty charges.
-
- Property location: Stamp duty rates vary by state and sometimes even by city or district within a state.
-
- Property type: Different rates may apply to residential, commercial, or industrial properties.
-
- Buyer’s gender: Some states offer lower rates for women buyers to encourage property ownership among women.
-
- Property age: Newer properties might have different rates compared to older ones in some regions.
-
- Urban vs. rural areas: Some states have different rates for properties in urban and rural areas.
-
- Nature of the transaction: Whether it’s a sale, gift, or lease can affect the applicable stamp duty rate.
-
- Built-up area: In some cases, the size of the constructed area on the property can influence the stamp duty.
How To Use Credit Dharma’s Stamp Duty Calculator?
- Go to the Credit Dharma Stamp Duty Calculator page.
- Choose the state where you intend to purchase your property from a drop-down menu.
- Type in the total value of the property you’re planning to buy.
- Specify the gender of the buyer.
- The calculator will display the calculated stamp duty and registration charges.
Documents Required For Paying Stamp Duty in Goa
To pay stamp duty and complete property registration in Goa, you’ll need the following documents:
- Identity Proofs: Self-attested copies of valid identification for all executing parties, such as Aadhaar cards, PAN cards (with Form No. 60 if PAN is not registered), driving licenses, voter ID cards, or passports.
- Property Ownership Documents: Original and duplicate copies of the sale deed or relevant land documents, including previous title deeds, to establish ownership history.
- No Objection Certificate (NOC): If applicable, obtain an NOC from the relevant Planning Development Authority or Town and Country Planning Department.
- Power of Attorney: If the document is executed, presented, or admitted by an attorney holder, provide certified copies of the Power of Attorney.
- Zoning Certificate: Required in cases involving property valuation to confirm land use and compliance with zoning regulations.
- Exemption Letter: If the transaction qualifies for stamp duty or registration fee exemptions, include the relevant exemption letter.
- Property Map or Plan: Attach a signed copy of the property’s map or plan, especially if referenced in the document.
- Tax Deducted at Source (TDS) Certificate: For transactions where the seller is a foreign national or when the consideration amount is ₹50 lakh or more, provide the TDS certificate.
- Additional Documents: Any other documents as required by the Sub-Registrar, such as Overseas Citizen of India (OCI) or Person of Indian Origin (PIO) cards for foreign nationals, or Foreign Exchange Management Act (FEMA) committee orders if applicable.
Ensure all documents are signed prior to submission, and that the date on the stamp paper is on or before the date of execution. It’s advisable to consult with the Sub-Registrar’s office or a legal expert to confirm the specific requirements for your transaction.
Prepare all necessary paperwork in order to simplify the transaction and avoid delays in the property-buying journey:
| Category | Documents Required |
|---|---|
| Property Ownership Transfers | Deed of Partition Reconveyance of Mortgaged Property Gift Deed Exchange deed |
| Financial and Security Instruments | Mortgage Deed Certificates of Sale |
| Occupancy and Use Agreements | Tenancy Agreement Lease Deeds |
| Legal and Authority Delegations | Power of Attorneys Licence Agreement |
Stamp Duty Concessions
Stamp duty concessions are a strategic tool used by governments to promote homeownership by making it more financially accessible. These benefits and reductions are designed to lower the entry barriers for buyers, encouraging more individuals and families to invest in their own homes.
Reduced Stamp Duty Rates for Women:
-
- Women may pay a lower rate of stamp duty compared to men.
-
- This differential rate aims to promote property ownership among women, contributing to their financial independence and empowerment.
-
- The exact discount can vary by region, but it’s typically around 1-2% lower than the rate for men.
Stamp Duty Concessions:
-
- Many states offer reduced stamp duty rates for first-time homeowners to make property ownership more accessible and affordable.
-
- First-time buyers might also qualify for additional tax benefits on the stamp duty paid, under certain conditions.
Joint Ownership Incentives:
-
- This is applicable only on properties registered under joint names with a woman as one of the owners.
-
- Some jurisdictions offer a reduction in stamp duty rates, further encouraging joint ownership.
Stamp Duty and Registration Charges For All States
| State | Stamp Duty -Male | Stamp Duty -Female | Registration Charges |
|---|---|---|---|
| Andhra Pradesh | 5% | 5% | 1% |
| Arunachal Pradesh | 6% | 6% | 1% |
| Assam | 6% | 5% | 8.50% |
| Bihar | 6.30% | 5.70% | 1% |
| Chhattisgarh | 5% | 4% | 1% |
| Goa | 3.5% – 5% | 3.5% – 5% | 1% |
| Gujarat | 4.90% | 4.90% | 1% |
| Haryana | 7% | 5% | 1% |
| Himachal Pradesh | 5% | 5% | 1% |
| Jharkhand | 4% | 4% | 1% |
| Karnataka | 2% – 5% | 2% – 5 | 1% |
| Kerala | 8% | 8% | 2% |
| Madhya Pradesh | 7.50% | 7.50% | 1% |
| Maharashtra | 6% | 5% | 1% |
| Manipur | 7% | 7% | 3% |
| Meghalaya | 9.90% | 9.90% | 1% |
| Mizoram | 9% | 9% | 1% |
| Nagaland | 8.25% | 8.25% | 1% |
| Odisha | 5% | 4% | 1% |
| Punjab | 4.75% | 2.75% | 1% |
| Rajasthan | 6% | 5% | 1% |
| Sikkim | 5% | 5% | 1% |
| Tamil Nadu | 4% | 4% | 2% |
| Telangana | 5% | 5% | 1% |
| Tripura | 5% | 5% | 1% |
| Uttarakhand | 5% | 3.75% | 1% |
| Uttar Pradesh | 7% | 5% | 1% |
| West Bengal | 6% – 7% | 6% – 7% | 1% |
| Delhi | 6% | 4% | 1% |
| Daman & Diu | 6% | 4% | 0.50% |
| Jammu and Kashmir | 7% | 3% | 1.20% |
Get a Home Loan
with Highest Eligibility
& Best Rates
What Are The Goa Ready Reckoner Rates in 2024?
In Goa, the Ready Reckoner Rate, also known as the Circle Rate, is the minimum property value set by the state government for stamp duty and registration purposes. These rates vary across different localities and are influenced by factors such as proximity to markets, availability of amenities, and overall development of the area.
As of December 2024, the Goa government has updated the Ready Reckoner Rates in select areas. For instance, in talukas like Tiswadi, Salcete, and Mormugao, new minimum land rates have been established.
Here are some examples of the updated circle rates in various localities:
| Locality | Circle Rate (per sq. meter) |
|---|---|
| Alto Porvorim | ₹5,164 – ₹5,855 |
| Arpora | ₹5,087 – ₹5,893 |
| Assagao | ₹4,825 – ₹15,350 |
| Baga | ₹6,092 – ₹11,163 |
| Chimbel | ₹4,149 – ₹7,983 |
| Colva | ₹5,786 – ₹6,334 |
| Dabolim | ₹3,951 – ₹12,519 |
| Margao | ₹4,985 – ₹5,893 |
| Nagoa Saligao | ₹7,035 – ₹8,245 |
| Old Goa Road | ₹3,984 – ₹6,067 |
| Ponda | ₹2,807 – ₹4,455 |
| Porvorim | ₹4,649 – ₹10,114 |
| Salcete | ₹3,161 – ₹6,494 |
| Santa Cruz | ₹5,110 – ₹7,167 |
| Tivim | ₹4,504 – ₹9,778 |
| Vaddem New Vaddem | ₹4,480 – ₹4,484 |
| Vasco Da Gama | ₹5,288 – ₹16,247 |
| Verla Canca | ₹4,468 |
| Verna | ₹3,516 |
| Zuari Nagar | ₹5,088 – ₹6,333 |
These rates are subject to periodic revisions by the state government to reflect current market conditions. For the most accurate and up-to-date information, it’s advisable to consult the official Goa Registration Department or seek guidance from a legal expert familiar with local property laws.
Secure Your Home Purchase with Credit Dharma
Familiarising yourself with the stamp duty and registration charges in Goa is essential for any property transaction. By understanding these expenses upfront, you can better plan your finances and avoid surprises during the home-buying process. Remember, stamp duty and registration charges are significant factors in your overall budget.
Ready to take the next step in your home-buying journey? Credit Dharma is here to help you beyond just calculating stamp duty. Our expert team can guide you through the entire home loan process, offering competitive rates and personalized solutions to match your unique financial situation. Contact Credit Dharma today to explore your home loan options and turn your homeownership dreams into reality!
Frequently Asked Questions [FAQs]
Stamp duty is collected by state governments in India. Each state has its laws and rates regarding stamp duty.
When there is no consideration (i.e., no money or value exchanged), authorities usually levy stamp duty based on the market value of the property or asset being transferred. The specific rates and rules may vary by jurisdiction.
The effects of non-payment of stamp duty can vary, but typically include:
Authorities may not consider the document legally valid or admissible as evidence in court.
They may deem the transaction void or unenforceable.
Some may impose legal penalties, fines, or interest for non-payment or late payment of stamp duty.
Sometimes, the authorities may take legal action to recover the unpaid stamp duty.
The limitation of stamp duty refund depends on the laws and regulations of the specific jurisdiction. However, some common limitations may include:
The tax office may only offer refunds within a specific time after you pay the stamp duty.
Refunds may only be granted under certain circumstances, such as if the transaction is canceled or the stamp duty was overpaid.
Administrative fees or other conditions may be associated with processing stamp duty refunds.
Refunds may not be available for certain types of transactions or documents.
Failure to pay property stamp duty promptly incurs a penalty of 2% per month on the outstanding amount, with a maximum penalty capped at 200% of the deficit stamp duty amount.
In Goa, the stamp duty for gift deeds executed in favor of immediate family members—such as father, mother, brother, sister, spouse, children, grandchildren, nephew, niece, son-in-law, daughter-in-law, brother-in-law, and sister-in-law—is a flat fee of ₹5,000, regardless of the property’s market value.
For gift deeds involving non-family members, the stamp duty rates align with standard property conveyance charges, ranging from 3% to 6% based on the property’s value. Additionally, a registration fee of 1% of the property’s value is applicable to all gift deeds.
In Goa, stamp duty is calculated based on the property’s market value, determined by the higher of the declared transaction value or the government’s prescribed circle rate (ready reckoner rate) for the specific area. The applicable stamp duty rates are structured into slabs:
Up to ₹50 lakh: 3.5%
₹50 lakh up to ₹75 lakh: 4%
₹75 lakh up to ₹1 crore: 4.5%
₹1 crore up to ₹5 crore: 5%
₹5 crore and above: 6%
For example, if a property’s market value is ₹80 lakh, it falls into the ₹75 lakh to ₹1 crore slab, attracting a stamp duty of 4.5%, resulting in a payment of ₹3.6 lakh. Additionally, registration charges apply, typically ranging from 3% to 3.5% of the property’s value, depending on the specific slab.
In Goa, stamp papers do not have a specific expiration date for their use. According to the Indian Stamp Act of 1899, there is no prescribed time limit within which a purchased stamp paper must be utilized.
However, Section 54 of the Act allows for a refund if the stamp paper is returned unused to the Collector within six months of purchase, subject to a deduction.
This six-month period pertains solely to the eligibility for refunds and does not affect the validity of the stamp paper for future use. Therefore, a stamp paper purchased in Goa remains valid indefinitely for executing documents, regardless of the time elapsed since its purchase.
HDFC Home Loan
SBI Home Loan
