Tips for a Smooth Property Registration Experience in Thane

Buying a residential property is a joyful occasion. It is, however, important to remember that your property is also a significant financial investment and must be registered under the Indian Stamp Act for the sale to be considered valid. Here is a handy guide to registering your property in Thane. 

Where to register your property in Thane?

For effective administration, Thane district has been divided into seven Talukas or sub-districts - Thane, Kalyan, Murabd, Ulhasnagar, Ambarnath, Bhiwandi, and Shahapur. There are five main municipal corporations- Mira Bhayandar, Ulhasnagar, New Mumbai, Thane, and Kalyan Dombivali. You will need to look for the sub-registrar office, which has jurisdiction over the location of your property. Offline registration of a property in Thane and payment of stamp duty and registration fee can be done at these offices. For the convenience of home buyers, the Maharashtra government also offers online registration and stamp duty payment services.

Stamp Duty and Registration Charges in Thane

The registration of property in Thane is only considered legally valid if you pay the stamp duty and registration charges.

For Thane District, if the value of the property is below INR 30 lakhs, the registration charge is 1% of the property value. For properties over INR 30 lakh, the registration charge is INR 30,000.

A stamp duty equal to 5% of the property value, local body tax of 1% and metro cess of 1% is charged in addition to this if the owner is a man. For women who buy property in Thane, the stamp duty is 4%, while the local body tax and metro cess remain the same.

Let us understand this with an example.

If you are a man and have purchased a flat in Thane worth INR 60 lakhs, then the total stamp duty and registration charges will be as follows -

• Stamp duty is 5% of INR 60 lakh, i.e., INR 3,00,000
• Local body tax is 1% of property value, i.e., INR 60,000
• Metro cess is 1% of property value, i.e., INR 60,000
• The registration charge is INR 30,000

The total amount payable by you for registration and stamp duty is INR 4,50,000.

How to register your residential property online?

• Access the online property registration portal at https://gras.mahakosh.gov.in/echallan/Click on the New User Registration link under the User Login panel, fill in the form with your information and register yourself. Do not share your login ID or password with anyone.
• Revisit the site and log in with your registered credentials.
• You will find a form for the property registration and payment of stamp duty and/or registration fees. Choose the appropriate option.
• Select the district and sub-registrar's office.
• Fill in your information, such as name, PAN, and phone number.
• Fill in the seller's information, such as name and PAN number.
• Fill in the address of your new property and the location.
• Enter the property value agreed upon with the seller or the circle rate (ready reckoner rate), whichever is higher.
• Now, choose a payment gateway such as a credit or debit card, net banking, or digital wallet and make the payment.
• Save the receipt and get a printout of the e-challan.

Visit the sub-registrar's office with the e-challan and property documents to get the registration deed executed. This may take 40-45 days from the time of payment.

Tips for smooth registration of property in Thane

The focus on e-governance in Maharashtra has made it convenient for property buyers to register and pay the fees online. Here are some tips to make the process go smoothly –

1. Find out which taluk and sub-division your property falls in. You will need these details to find out the sub-registrar office that oversees registrations in your area.
2. Collect all the relevant information, such as the property address, PIN code, etc.
3. Ask the seller to give you their PAN card and property permit information.
4. Have a valid sale deed signed by both parties before you proceed with registration.
5. Ensure your net banking or digital payment system is functional before registering.
6. Print out the e-challan you receive and contact the sub-registrar's office for the registration certificate.
7. Following the registration, register yourself for online payment of property taxes.

It is worth noting that the government of Maharashtra provides a rebate or waiver of stamp duty on certain occasions. Currently, stamp duty is not being charged on the registration of resold properties. To take advantage of such benefits, it is crucial to remain informed about the latest rules and regulations.