This way you can save money on property registration, know how you can get discounts

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If you buy a house, shop, plot or land, you become its legal owner only after registering it. So, whenever you buy a property, getting it registered is a very important task. But in the process of registering the property, 5 to 7 percent of the property price is spent, due to which people are always looking for ways to save the registration money.

In this way expenditure on stamp duty can be saved

It is often observed that the market value of the property is low while the circle rate is high. In this case, you have to pay more stamp duty at the time of registration. But in this case, you can save the cost of stamp duty by appealing to the registrar or sub-registrar. It is provided under the State Stamp Act that a sale deed can be kept pending registration if an appeal is made to the Registrar for levy of stamp duty on the market value. So you can save money on stamp duty.

Local Stamp Act can save money

The state has a right to the revenue generated from the registration of property. The registration fee is often reduced by the state government. In such a case, when the discount is given, you can save a lot of money by registering at that time. In states like Maharashtra, Punjab and Uttar Pradesh, no stamp duty is levied on property gifted to a blood relative.

Women buyers can avail discount

Many states exempt stamp duty and registration charges if a woman is involved in the purchase of property in joint or sole ownership. It includes Haryana, Delhi, Punjab, Rajasthan and Uttar Pradesh.