Team Goemkarponn
PANAJI: The Goa government has rolled out a new stamp duty framework for the registration of immovable property, replacing the earlier system introduced in 2017. The revised rates, notified by the Department of Revenue, have come into force with immediate effect and introduce a slab-based structure linked to the value of the property.
As per the notification, property transactions valued above ₹600 and up to ₹50 lakh will now attract a stamp duty of 3 per cent. Conveyances valued above ₹50 lakh and up to ₹75 lakh will be charged 4 per cent, while those exceeding ₹75 lakh and up to ₹1 crore will attract a duty of 4.5 per cent.
For properties valued above ₹1 crore and up to ₹5 crore, the applicable stamp duty has been fixed at 5 per cent. Transactions involving properties worth more than ₹5 crore will continue to attract the highest rate of 6 per cent.
The revised policy also introduces a specific provision for adjoining plots transferred between the same buyer and seller. If such transactions take place within one year of an earlier conveyance, the value of the previously transferred land will be considered while determining the stamp duty payable on the subsequent conveyance.
Alongside the revised rates, the government has reduced the stamp duty payable on unilateral deemed conveyances by introducing fixed charges based on the location of the property.
Residential units will attract a fixed duty of ₹50,000 in Category A areas, ₹40,000 in Category B and ₹30,000 in Category C. Commercial units will be charged ₹1 lakh, ₹80,000 and ₹50,000 respectively. For amenities and ancillary facilities, the prescribed duty has been fixed at ₹10,000 in Category A, ₹7,500 in Category B and ₹5,000 in Category C.
The notification makes it clear that these fixed charges will apply to every residential or commercial unit and each amenity, regardless of its built-up area.
For administrative purposes, Category A includes coastal village panchayats along with the Corporation of the City of Panaji and the municipal councils of Mapusa, Ponda, Vasco-da-Gama and Margao. Category B consists of notified census towns, village panchayats adjoining Category A areas and the remaining municipal councils, while Category C covers all other village panchayat areas in the state.
The updated stamp duty regime is expected to simplify property registrations by introducing a clearer rate structure while offering reduced, standardised charges for deemed conveyance cases.
