Stamp duty charges are a one-time fee that you pay along with your application fee for a residential property purchase. Also, it is the amount that you pay on a sales deed or property document while you purchase a house. You can make use of a stamp duty calculator while you calculate your charges.

How to calculate your stamp duty charges?
The charges range between 3% and 10% of the market value of your property. While you purchase a property, the amount of stamp duty depends on various factors such as –
  • The location of your property
  • Your age and gender
  • Type of property
  • Number of floors occupied
  • The market value of your property
While you use a stamp duty calculator, you will have to share your property value and your state to estimate your stamp duty charges.
For example: If you reside anywhere in Kerala and the value of the property you are about to purchase is Rs. 5 Crore, then you will pay Rs. 42,50,000 (8.5% of the property value according to your location) as stamp duty charges.
Any document with stamp duty is considered to be a legal document, and you also get to enjoy tax benefits under 80C of the income tax act. Under this section, you can claim a deduction of up to Rs. 1.5 Lakh. Also, the stamp duty charges paid for a home loan allows you to enjoy tax benefits under the mentioned section and within the specified limit.
Besides the above, you can pay your charges for stamp duty on home loan using the online method or via franking, e-stamping or physical stamp paper.