Mortgage Stamp Duty Calcultor Maharashtra

MORTGAGE CALCULATOR

How to Calculate stamp duty and registration fee on Mortgage Deed in Maharashtra.

You have taken Smart Decisions to calculate stamp duty and registration fee on our Latest Tool for Mortgage Stamp Duty Calculator !

Each state in India has its own unique scale to collect stamp duty in form of taxes and we have provided the calculator for our users to enable them to calculate stamp duty on Mortgage Deed in Maharashtra State.

Stamp duty is a tax which is applied by state governments in Maharashtra and is in relation to the Mortgage of the property such as Mortgage Deed, Deposit of Title Deed, and Equitable Mortgage Deed.

MORTGAGE DEED

Under Article 6 of Schedule I of the Maharashtra Stamp Act.

Under Article 6(i) of Schedule I of the Bombay Stamp Act, 1958.

Types of Document

Deposite of Title Deed, Housing Loan, Pawn, Pldge or Hypothecation - Deed, Agreement or Letter


Under Article 40 of Schedule I of the Maharashtra Stamp Act.

Under Article 40(a) of Maharashtra Stamp Act. : Where possession of the property is given by the Mortgagor. Stamp Duty is 5% as per conveyance as above on the amount of Loan.

Under Article 40(b) of Maharashtra Stamp Act. : Where possession of the property is not given by the Mortgagor. Stamp Duty is 0.5% of amount of Loan Subject to Minimum of Rs. 100/- and maximum of Rs. 10,00,000/-.

Types of Document

Mortgage Deed


Under Article 33 of Schedule I of the Maharashtra Stamp Act.

Under Article 33(a) of Maharashtra Stamp Act. : Where possession of the property is given by the Mortgagor. Stamp Duty is 5% as per conveyance as above on the amount of Loan.

Under Article 40(b) of Maharashtra Stamp Act. : Where possession of the property is not given by the Mortgagor. Stamp Duty is 0.5% of amount of Loan Subject to Minimum of Rs. 100/- and maximum of Rs. 10,00,000/-.

Types of Document

Further Charges


THE TRANSFER OF PROPERTY ACT, 1882

Section 58 The Transfer of Property Act

A mortgage is the transfer of an interest in specific Immoveable property for the purpose of securing the payment of money advanced or to be advanced by way of loan, an existing or future debt, or the performance of an engagement which may give rise to a pecuniary liability.

Section 58(b) Simple Mortgage : Where, without delivering possession of the mortgaged property, the mortgagor binds himself personally to pay the mortgage-money, and agrees, expressly or impliedly, that, in the event of his failing to pay according to his contract, the mortgagee shall have a right to cause the mortgaged property to be sold and the proceeds of sale to be applied, so far as may be necessary, in payment of the mortgage-money, the transaction is called a simple mortgage and the mortgagee a simple mortgagee.

Section 58(d) Usufructuary Mortgage : Where the mortgagor delivers possession or expressly or by implication binds himself to deliver possession of the mortgaged property to the mortgagee, and authoresses him to retain such possession until payment of the mortgage-money, and to receive the rents and profits accruing from the property or any part of such rents and profits and to appropriate the same in lieu of interest or in payment of the mortgage-money, or partly in lieu of interest or partly in payment of the mortgage-money, the transaction is called a usufructuary mortgage and the mortgagee a usufructuary mortgagee.


MORTGAGE DEED REGISTRATION

Section 17 of the Registration Act, 1908

If an agreement is executed (signed) between the Mortgagor and the Mortgagee, it has to be compulsory registered. The usual time limit for registration is four months from the date of execution.

If such agreement is not executed, then the Mortgagor has to file a notice of intimation of such mortgage.


DEPOSIT OF TITLE DEED

Deposit of Title Deed, Equitable Mortgage Deed, Hypothecation or Pledge (Deed, Agreement or Letter) / Housing Loan

Stamp Duty

Under Article 6(i) of Schedule I of the Bombay Stamp Act, 1958.

If the Loan Amount does not exceed Rs. 5,00,000/-. Stamp Duty is 0.1% of the Loan Amount Subject to Minimum Rs. 100/-

If the Loan Amount Exceed Rs. 5,00,000/-. Stamp Duty is 0.2% of Loan Amount. (Maximum No Limits)

Under Section 58(f) of The Transfer Of Property Act, 1882.

Mortgage by deposit of title-deeds-Where a person in any of the following towns, namely, the towns of Mumbai, Calcutta, and Madras, and in any other town which the State Government concerned may, by notification in the Official Gazette, specify in this behalf, delivers to a creditor or his agent documents of title to immovable property, with intent to create a security thereon, the transaction is called a mortgage by deposit of title-deeds.

Registration Act, 1908 (Notification Dated 1st October 2013.)

No. 'RGN' 2013 / 993 / C. R. (171) / M-1. In exercise of the powers conferred by section 89D of the Registration Act, 1908 (16 of 1908) (hereinafter referred to as "the said Act,) and of all other powers enables in this behalf, the Government of Maharashtra hereby makes the following rules, for the filing of true copies of documents and notices referred in sections 89A and 89B of the said Act.

These rules may be called as the Maharashtra Filing of True Copies of Documents and Notices Rules, 2013.

Under Section 89B of The Registration Act, 1908
A new Section 89(b) is introduced in the said Act, which requires filling of notice of intimation of mortgage by way of Deposit of Title Deed.

Section 17 of the Registration Act, 1908 Provides the list of documents which are compulsory for registration. Through the above mentioned amendment, a new type of deed “The agreement relating to the Deposit of title deeds, where such deposit has been made by way of security for the repayment of a loan or existing or further debts.” (which is generally known as ‘Equitable Mortgage Deed’) is added in this list.


E-Registration & E-Filling Rules 2013

E-Registration and E-Filling Rules 2013 Notification w.e.f. 1st April 2013 If Mortgage Deed is not executed, by the Mortgagor and Mortgagee then the Mortgagor has to file a notice of intimation of such mortgage. This notice should be filed within 30 days from the date of mortgage. If any person who fails to file such notice within the prescribed time limit shall be liable for punishment under section 89C of The Registration Act 1908.


Reconveyance Deed

What is Reconveyance Deed?

Reconveyance deed is a kind of document which has to execute by the borrower (Mortgage) after making full payment of the debt against the property mortgage to bank or financial institution (Mortgagor).

Reconveyance of Mortgage u/a 51 of Schedule I of Maharashtra Stamp Act.

Stamp Duty is ₹ 500/- and Registration fee is ₹ 100/-

A Deed of Reconveyance must be register where the property located in the jurisdiction of the Registrar of Assurance. It is proof of evidence that the mortgage has cleared all the due with interest been paid in full (debt) to mortgagor. If Deed of Reconveyance is not registered, then the debt will still be shown against the property in the records of Registrar.


Stamp Duty & Registration Fee Calculator for Property Mortgage


Just simply input loan amount and select the type of mortgage and calculate.


Mortgage Amount
Deposit Of Title Deed, under Article 6 of Schedule I of MSA, 1958
If loan amount does not exceed ₹ 500000 then the stamp duty is 0.1% of the loan amount subject to minimum stamp duty of ₹ 100/- and, if loan amount exceed ₹ 500000 then the stamp duty is 0.2% of the loan amount subject to maximum stamp duty of ₹ 1000000/- (Ten Lac)
Mortgage Deed under Article 40 of Schedule I of MSA, 1958
40a) If mortgagor gives the possession of the property to lender (Bank / Finacial Institution) against the loan amount the stamp duty is as per conveyance article 25 on the amount of loan.
Further Charges under Article 33 of Schedule I of MSA, 1958
33a) In case where possession of the property is with bank, the stamp duty is as per conveyance article 25 on the amount of loan.
Mortgage Deed under Article 40 of Schedule I of MSA, 1958
40b) In case where possession of property is not given by Mortgaor (Property Owner) then the stamp duty is 0.5% of the loan amount with the cap of stamp duty is ₹ 1000000
Further Charges under Article 33 of Schedule I of MSA, 1958
33c) In case where possession of property is not given by Mortgaor (Property Owner) then the stamp duty is 0.5% of the loan amount with the cap of stamp duty is ₹ 1000000
Stamp Duty
Registration Fee ₹
Local Body Tax ₹
Note : For Notice of Intimation (Deposit Of Title Deed) handling charges is ₹ 300/- has to pay in cash
  after each calculation for better performance.


Note :The Online Mortgage Calculator for calculating Stamp Duty & Registration Fee, and Local Body Tax (LBT) which provides you with an indication of an amount of stamp duty & registration fee, and Local Body Tax (LBT); your Advocate, Solicitor or Stamp Duty Consultant will be able to provide you with the final amount of the Stamp Duty and Registration Fee and its procedures. We always recommend our valuable users to obtain the proper Legal Advice from the professionals in these fields or confirm with the concerned authority. Read full Terms and Conditions carefully before using it.



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