REGISTRATION LAWS
Latest land registration charges and stamp duty for land registration in Kerala
Latest stamp duty for property sales in Kerala (2014 budget proposals)
The proposed stamp duty for all land registrations in panchayats, municipalities and corporations are 6% of the sale value.
The stamp duty for selling land as per the existing rules are as follows (pre-budget 2014):
Panchayats: 5%
Municipalities: 6%
Corporations: 7%
(Before 2011, the stamp duties were 7, 8, 9% respectively. Govt announced a 2% deduction in 2011 for the respective sectors, which made it 5%, 6% and 7% for panchayats, municipalities and corporations respectively.)
As per the new budget proposals, government will unify the stamp duty to 6% for all sectors. This means a 1% increase for all land/property sales in the panchayats and 1% reduction in the corporation areas.
The stamp duty is calculated based on the actual sale value of the property. However, it is required that the sale value cannot be lower than the "fair value" of land, as determined by the government. The existing fair value of land in Kerala was fixed in 2010, which will be revised as per the current budget proposals. Government will introduce necessary amendments to the Govt Stamp Act to enable these changes.
For family property partitions, the stamp duty is fixed to Rs 1,000, irrespective of the value of the land. There are no changes proposed for family property partition and gifting of land for immediate family members. For this purpose, the immediate family is defined as wife, husband, children, brothers, sisters, children and grandchildren.
The stamp duty for selling land as per the existing rules are as follows (pre-budget 2014):
Panchayats: 5%
Municipalities: 6%
Corporations: 7%
(Before 2011, the stamp duties were 7, 8, 9% respectively. Govt announced a 2% deduction in 2011 for the respective sectors, which made it 5%, 6% and 7% for panchayats, municipalities and corporations respectively.)
As per the new budget proposals, government will unify the stamp duty to 6% for all sectors. This means a 1% increase for all land/property sales in the panchayats and 1% reduction in the corporation areas.
The stamp duty is calculated based on the actual sale value of the property. However, it is required that the sale value cannot be lower than the "fair value" of land, as determined by the government. The existing fair value of land in Kerala was fixed in 2010, which will be revised as per the current budget proposals. Government will introduce necessary amendments to the Govt Stamp Act to enable these changes.
For family property partitions, the stamp duty is fixed to Rs 1,000, irrespective of the value of the land. There are no changes proposed for family property partition and gifting of land for immediate family members. For this purpose, the immediate family is defined as wife, husband, children, brothers, sisters, children and grandchildren.
Registration charges for land/property sales
In addition to the 6% stamp duty, there will be an additional 2% registration charges for all kinds of property registrations in Kerala. The registration charges are not changed as per the current budget proposals.
Important official websites regarding land registration
Here are some of the official websites to find more information about land registration in Kerala:
Land registration official website: http://www.keralaregistration.gov.in/
Here are some of the official websites to find more information about land registration in Kerala:
Land registration official website: http://www.keralaregistration.gov.in/
Expenses involved in property purchase
The following are the mandatory fees for land registration in Kerala:
Stamp duty: 6% of sale value(proposed value in 2014 budget)
Registration Fees: 2% of sale value
Documentation fees: This is the fees you pay to the document writers and the charges depends on the writers. You may want to negotiate the price before you start the documentation process.
Depending on your case, you may have the following additional expenses:
1. Fees for your realtors/brokers: The fees charged by brokers vary from 1% to 3% of the market value. In many parts of Kerala, the buyer has to pay 1% and seller has to pay 2% of the sale value. In certain areas like Ernakulam, Kakkanad, Kalamassery etc, the buy is not obligated to pay any broker fees. Instead, the seller is responsible for the entire fees (up to 3%). In many cases, the buyer/seller will negotiate a smaller fees, especially in case of sales for large amounts, above 50 lakhs. Some sellers/buyers would even negotiate for a fixed realtor fees, irrespective of the value of the property.
2. Fees for obtaining documents like encumbrance certificate.
3. Payment of all pending taxes and fees for the property.
4. Pending fees for residents' associations to which the property belongs.
5. Buyer may have to pay a membership fee for the residents' association
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The schedule to the
Kerala Document Writers` License Rule 1960 specifies the following
maximum fees leviable by Document writers and for the service rendered
by any scribe attached to their Office (As amended by Notification
No.L1/15679/2009 Dated 29.08.2009 with effect from 01.09.2009
| No | Category | Amount |
|---|---|---|
| i | When the value or consideration specified in the document does not exceeds Rs. 7,500/- | Rs. 400/- |
| ii | When such value exceeds Rs. 7,500/- but does not exceed Rs. 12,500/- | Rs. 500/- |
| iii | When such value exceeds Rs. 12,500/- but does not exceed Rs. 20,000/- | Rs. 600/- |
| iv | When such value exceeds Rs. 20,000/- but does not exceed Rs. 30,000 | Rs. 700/- |
| v | When such value exceeds Rs. 30,000/- but does not exceed Rs. 50,000/- | Rs. 900/- |
| vi | When such value exceeds Rs. 50,000/- but does not exceed Rs. 75,000/- | Rs. 1300/- |
| vii | When such value exceeds Rs. 75,000/- but does not exceed Rs. 1,00,000/- | Rs. 1700/- |
| viii | When such value exceeds Rs. 1,00,000/- but does not exceed Rs. 1,50,000/- | Rs. 2000/- |
| ix | When such value exceeds Rs. 1,50,000/- but does not exceed Rs. 2,00,000/- | Rs. 3000/- |
| x | When such value exceeds Rs. 2,00,000/- but does not exceed Rs. 3,00,000/- | Rs. 4000/- |
| xi | When such value exceeds Rs. 3,00,000/- but does not exceed Rs. 5,00,000/- | Rs. 5000/- |
| xii | When such value exceeds Rs. 5,00,000/- but does not exceed Rs. 700.000/- | Rs. 6000/- |
| xiii | When such value exceeds Rs. 7,00,000/- but does not exceed Rs. 8,00,000 /- | Rs. 7000/- |
| xiv | When such value exceeds Rs. 8,00,000/- | Rs. 7500/- |
| xv | For the preparation of a document falling under Article I(v) of the table of fees prescribed under section 78 of the Act. | Rs. 200/- |
| xvi | When the schedule of properties contains more than 5 items, besides the fees prescribed above, for every item or part therof an additional fee of Rs. 30/- may be levied | |
| xvii | In the case of the following documents,an additional fee of 25% on the fees specified in items(i) to (xv) may be levied.
1.Agreements relating to immovable property,
2.Agreements relating to deposit of title deeds, pawn or pledge, 3.Appointment of the execution of a power, 4.Awards, 5.Chitty or Kuri Variola, 6.Composition deed, 7.Partition, 8.Partenership including dissolution of partnership, 9.Settlement and 10.Trust |
Scribes' Fee
Scribes` fee will be according to the number of pages
copied by him. A fee of Rs. 10/- may be levied for every page or part
of a page of the following documents, copied by him, namely (One page
means a minimum of 100 words.
- Original Documents
- Duplicates
- Pokkuvaravu and
- Counterparts of documents
For true copies to be filed, uniform rate of Rs.20
for every page or part of a page of the copying sheets, subject to a
minimum of Rs.30 may be levied. (One page means a minimum of 250 words).
A register in Form E and (2) a receipt book with
counterfoil in Form F and shall give receipts for all moneys received on
account of work connected with every document prepared by the Document
Writer.
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