Steps to pay Stamp Duty for Property Registration in Kolkata

Introduction:

Paying stamp duty for property registration in Kolkata is an essential step in the property registration process. Stamp duty is a tax levied by the government on property transactions. It is necessary to pay stamp duty to ensure that the property transaction is legally binding and that the property buyer has the necessary ownership rights. In this article, we will discuss the process for paying stamp duty for property registration in Kolkata.

Step 1: Assessment of Market Value

The first step in the process of paying stamp duty for property registration in Kolkata is the assessment of the market value of the property. The market value is the fair value of the property, which is determined by the state government. The market value is used to calculate the stamp duty payable for the property registration.

To assess the market value, the seller and the buyer need to provide the details of the property and the transaction on the West Bengal Registration and Stamp Revenue Department’s official website, wbregistration.gov.in. The details required for assessment include the following:

• Details of the seller and the buyer
• Property details, such as the location, area, and type of property
• Transaction details, such as the sale price, date of sale, and other related information

After providing the necessary details, the website will generate an assessment of the market value of the property.

Step 2: Generate Unique Query Number

Once the market value is assessed, the next step is to generate a unique query number. The unique query number is a unique identification number that is generated for the property transaction. It is used to track the progress of the property registration process.

To generate the unique query number, the seller and the buyer need to provide the details of the property transaction on the wbregistration.gov.in website. Once the details are provided, the website will generate a unique query number.

Step 3: Verify the Query with Draft Deed from the Registration Officer

After generating the unique query number, the seller and the buyer need to visit the concerned sub-registrar’s office to verify the query with the draft deed. The draft deed is a legal document that outlines the terms and conditions of the property transaction. The draft deed is prepared by the seller and the buyer or their respective lawyers.

The registration officer will verify the query with the draft deed and ensure that all the details are accurate. The registration officer may ask for additional documents or information if required.

Step 4: Payment of Stamp Duty and Registration Fees through GRIPS website of WBIFMS

After the verification of the query with the draft deed, the next step is to pay the stamp duty and registration fees. The stamp duty and registration fees can be paid online through the Government Receipt Portal System (GRIPS) website of the West Bengal Integrated Financial Management System (WBIFMS).

To pay the stamp duty and registration fees, the seller and the buyer need to log in to the GRIPS website and provide the following details:

• Unique query number
• Details of the property transaction
• Amount of stamp duty and registration fees payable
• Mode of payment

The website will generate a challan after successful payment, which will serve as proof of payment.

Step 5: Generate Paid Challan after Successful Transaction

After successful payment of stamp duty and registration fees, the next step is to generate a paid challan. The paid challan is a receipt that confirms the payment of stamp duty and registration fees.

The seller and the buyer can generate a paid challan by logging in to the GRIPS website and entering the unique query number. The website will generate a paid challan that can be downloaded and printed for future reference.

Step 6: Present the Deed along with the Said Paid Challan

After generating the paid challan, the final step is to present the deed along with the said paid challan to the registration officer. The registration officer will then verify the deed and the paid challan and initiate the property registration process.
It is essential to carry all the necessary documents, including the original and photocopy of the sale deed, the PAN card of both the buyer and seller, and any other relevant documents that may be required.

Once the registration process is complete, the buyer will receive the original sale deed, which is proof of ownership. It is essential to keep this document safe and secure as it is a legal document and is required for various purposes such as obtaining loans, selling the property, and for legal disputes.

Conclusion

Paying stamp duty for property registration in Kolkata is a crucial step in the property registration process. It is important to calculate the stamp duty accurately and pay it on time to avoid any legal issues in the future.
The process for paying stamp duty in Kolkata is relatively simple and can be done online through the WBIFMS website. It is important to follow the steps mentioned above and carry all the necessary documents to the registration office.
In case of any doubts or queries, it is advisable to seek the help of a property registration lawyer who can guide you through the process and ensure a smooth and hassle-free property registration experience.

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