How to calculate your registration fees for the home?
Lets divide the total registration charges into two.
For Registration
For GST
For Registration:
Suppose if you are buying a home with 1000 sq.ft, and the fair value of the per sq.ft in that is 1500.
which is 1000 X 1500 = 1,50,000
For car parking, it will be around = 50,000
Total amount = 1,55,000
Stamp duty will vary between the different states, which will be around 5-6%
Stamp duty = 6% of 1,55,000
= 93,000
Other charges = 8000
Total cost for Registration = 1,01,000
For GST
GST has to paid on the total value that we paid to the builder,
if the price has quoted at around 35L(in white), we need to pay 5% of it.
i.e., 5% X 35,00,000 = 1,75,000
So, the total amount you should keep in your hand for the registration is 2.76L
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