How and where to buy property in India

To buy the property in India one needs a good amount of investment and assurance towards the property however to rent the property in India it would not require so. To help the buying of property in India, the government has come up with a firm plan like the DDA scheme which makes the purchase of property not only easy but also reasonable for every sector in India.

Where to invest in the properties in India
North India
North India is filled with industrial cities. With an influx of population from various Indian cities, some areas have benefitted from a rise in population. Haryanvi city is a great investment option for people interested in resale and rental gains.
South India
Capital cities in South Indian states have long been known for developments par excellence in the last few decades. Once a region filled with small towns, it has become one of the biggest destinations for investors seeking property in India.

West India
Although many cities in western India are known for international connections as coastal cities from ancient times, many inland cities in Maharashtra and Gujarat.

East India
Many cities such as in the upper areas of West Bengal, eastern parts of Madhya Pradesh and industrial townships of Orissa are becoming popular for property investors. These cities are typically high-potential low-priced places that can yield great value for the average investor.

Important points to be considered regarding the Stamp Duty & Registration Fee:
This is an essential expense or tax, just like the sales tax and income tax that is levied by the Government. In case if you want to identify the market value of your property and the stamp duty amount on it, you must contact the ready reckoner to locate your valuation zone and sub-zone.

Factors that Determine Your Stamp Duty Charges

• Age of the Property: The age of the property plays a vital role in deciding the stamp duty charges that you required to pay. This is because the market price of old buildings would have denigrated.
• Age of the Owner: All the state governments have subsidized the stamp duty amount for senior citizens. So, the age of the owner plays an important role in determining the charge.
• Gender of the Owner: Like women in our country acquire a discount on stamp duty charges if the property is shown in her name. Men have to pay about 2% extra stamp duty charges when compared to women.
• Purpose: Commercial buildings invite a high stamp duty fee as compared to residential buildings. This is mainly because commercial buildings would need a lot of amenities, floor space, and security features.
• Location: Property placed in a municipal area or an expensive urban area, imposed with the high stamp duty. If it is situated in the Panchayat limits or outskirts of the town, stamp charges are very less.
• Amenities: The government has a list of over 20 amenities that you will have to pay extra if you fit on your property. Some of the amenities are lifts, swimming pools, libraries, club, gym, community hall, and sports area.

Stamp Duty and Registration Charges in metro cities of India
Bangalore
5% of the market value of the property and registration charges 1% of the value

Delhi
It is categorized as 4% if the owner is a woman 6% if the owner is a man 1% of the total market value of sale deed plus Rs.100 pasting charge.

Mumbai
It is calculated as per the area 4% of the total market or agreed value of the property for rural areas. 5% for areas that fall under the Municipal zone. 1% of the market agreed on the value of the property or Rs.30,000 whichever is lesser.

Chennai
7% of the total market value of the property and the property tax is 1% of the market value of the property.

Kolkata
5% of the total market value of the property if it falls in the Panchayet area. 6% of the market value when it comes to municipal areas. 1% is the property tax.