True Market Value of the property

The Market Value is determined by ready reckoner (ASR) Annual Statement Rate value fixed and published every year on 31st December, under the Maharashtra Stamp Act, (59 of 1958) and the Maharashtra Stamp (Determination of True Market Value of Property) Rule, 1995.

Valuation of property is not merely a valuation now days but it requires in-depth study and understanding of the subject matter with relative acts, rule, and regulation (notification / circular) guideline and with latest amendments.

How to calculate True Market Value of the property ?

If you want to know the true market value of your property you has to follow the procedure and should know accurate details of property in which jurisdiction the property is located or situated such as;
1. District
2. Taluka
3. Division or Village
4. Type of Property such as (Land, Residential, Office, Shop and Industrial Unit)
5. C. S. (Cadastral Survey Number) in Mumbai Division
C.T.S. (Chain and Triangulation Survey Number in Mumbai Suburban Village
F. P. (Final Plot Number)
S. N. (Survey Number)
GAT Number (Area Number) etc. of the property
(Gat book plans of the relevant Survey Numbers / Hissa Numbers / Gat Numbers / Khasra numbers)

With the help of“RECKONER” you have to locate the Division / Village with Zone / Sub Zone and C.S. / C.T.S. number etc. of you’re the property, from the table you can find the rates of property such as Land, Residential, Office, Shop and Industrial Unit. Rates are per Square Meter (Built-Up-Area) or in Hectare.

With the help of “GUIDE LINE” for (Mumbai and Mumbai Suburban District and Rest of Maharashtra) you have to increase or decrease the rate according to various valuation factors and you will get true market value of the property.

There are various variations while calculating the market value which are as follows;
1. Bungalow / Flat under Group Housing Project / Row House etc
2. Building without Lift / Multistored Building with Lift (floor wise)
3. Completed age of building
4. Car Parking (Open space Parking / Closed Parking)
5. Terrace, Open Land with Ground Floor, etc

Example: Is given for the property situated in Municipal Corporation Area (Agreement for Sale)
(Under Atricle 25(d) of Schedule – I of Maharashtra Stamp Act.)
Note : Stamp Duty differs according to location of property.

District : BORIVALI
Zone : 79
Sub Zone : 354
C.T.S. No. : 1
Building Age : 1 year
Building : Without Lift
Proerty situated on : Ground Floor
Area of Flat : 500 sq feet carpet
Note : Calculation has to be done on Built-Up Area in square meter.

Rate :   88200

Area : 500 sq feet carpet (You have to convert square feet to built-up)

500 x 1.2 = 600 square feet built-up (You have to convert in square meter)

600 / 10.76 = 55.762 (square meter built-up)

(Rate)   88200 x (Area) 55.762 = Market Value (  4918208.40) Rounded to   4918200

After getting true market value you can calculate stamp duty of the property as per the Article under Schedule – I of Maharashtra Stamp Act.

Stamp Duty is applicable on True Market Value or Agreement Value which ever is higher.

Market Value of property :   4918200 /- (M.V)

Agreement Value of property :   5500000/- (A.V.)

The stamp duty is applicable on Agreement Value

(A.V.) 5500000 x (Stamp Duty) 5% = 275000/- (S.D.)

Note: Stamp duty is charged on every   500/-or part thereof.

Registration Fee is 1% on true market Value or Agreement Value of the property which ever is higher (Maximum   30000/-).
Note: Registration Fee is charged on every   1000/-or part thereof.

As per above calculation Registration Fee is 1% (Maximum) charged on Agreement Value which is :  30000/-

  Note: Various other taxes are applicable on the purchase of immovable property (ready construction, resale / under construction)

You can use our simple calculator where we have explain in detail information’s related to various taxes.
Click Here


How to calculate Market Value & Capital Value

We have explained in details how to calculate Market value of Property, for paying Stamp Duty and Registration Fee, and have explained in details how to calculate Capital Value of property for Municipal Assessment Tax.

How To Pay Stamp Duty And Registration Fee

Maharashtra State Government has provided various types of facilities to the public for the payment of Stamp Duty through various types of mode and has appointed Nationalized Banks, Schedule Banks, Private Banks and the Co-operative Banks which are authorized by Reserve Bank of India. With view that the facility of payment of stamp duty is made easily available to the public therefore different arrangements are in force.

Online Leave and License Registration

The Department of Registration and Stamp, Maharashtra State Government had appointed Authorised Service Providers to register Leave and License Agreement in Maharashtra.

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