In August 2020, the Maharashtra State government had slashed the property registration Stamp duty to 2% encouraging House purchase to boost real estate. These people would ultimately apply for Home Loans and thus boost Banking sectors as well. However in January and subsequent months the stamp duty was increased to 3% and then 5% with some other conditions as well.

One of the condition was that a prospective buyer was able to seal the 3% or 5% stamp duty rate in advance by paying the appropriate fee in advance. However, property details was to be made mandatory while paying the stamp duty.

For example, if Rohan decides to buy a property from Builder in Pune, without doing the Agreement to Sale, he could seal the 3% stamp duty rate by mentioning the unit or flat number that he intended to buy. In the coming 3 months period he could execute the Agreement to Sale and other formalities and legally become the owner of the flat. But the problem here is, if for whatever reason he decided to change the flat/project and decide to buy another property the same stamp duty challan can not be used by him! Since in the earlier challan, he was already made to fill in the details of the unit he is paying stamp duty for. We at All About Loan, are seeing increasing number of cases where People were tempted to pay the stamp duty in advance and later changed the property and did not knew the process for Stamp Duty refund!

Process for stamp Duty refund:-

1) One needs to visit the website of Department of Registration & Stamps.

2) Create User id & password.

3) Do the Data Entry in the application module, prepare the required affidavits etc.

4) Submit the date and keep the token number generated handy.

5) At the local SRO office, appropriate Stamp Duty & Registration refund forms needs to be collected, filled, notarised and then submitted.

The process is a bit complicated as one needs to Fill in the online application first and then complete the formalities at SRO office. Only data entry in this module will not be construed as ‘Submission of the Refund Application’. The applicant has to submit the ‘Refund Application’ physically

We at All About Loan can help you get refund for Stamp Duty and Registration fee. For more details, and professional consultancy you can get in touch with us.

I am a Loan Consultant by profession and a Ex-Banker. We help you filter down on the best bank in India with Lowest ROI and quick turnaround time

For your loan queries, you can connect with us on below details.
+91 70660 10609     

Leave a Comment

Your email address will not be published. Required fields are marked *