Pune Property Rates 2024: Land Prices Per Sq Ft (Updated!) (2024)

Stamp Duty and Registration Charges in Pune 2024

Stamp duty and registration charges in Pune are essential aspects of property transactions. In 2024, stamp duty rates typically range from 5% to 7% of the property value, while registration charges are approximately 1% of the property’s market value. Understanding these charges is crucial for buyers and sellers to facilitate seamless property transactions in Pune.

The Maharashtra government, under whose jurisdiction Pune falls, continues to emphasise online services for property registration and stamp duty payments. This simplifies the process, reduces paperwork, and potentially expedites approval. The existing rebate on stamp duty for women property buyers (1%) and senior citizens (1%, with a maximum limit of Rs. 1 lakh) remains applicable in Pune for 2024. This blog covers everything from the latest stamp duty and registration charges in Pune to the reasons why you have to pay these taxes on top of the property valuation money. (Note – The rates for stamp rates come out annually on the 31st January of each year).

Understanding Stamp Duty

When buying a house by paying upfront, or via a home loan, we tend to forget the money needed to pay stamp duty registration charges in Pune. But these extra costs are significant and should be considered when planning the finances for the house.

What is Stamp Duty?

The stamp duty came into effect after the Stamp Duty act in 1899 was passed. A tax levied on the instrument before any type of transaction between at least two parties must be documented concerning property (tangible/intangible, movable/immovable). The primary purpose of the Stamp Duty is to raise money for the Government, and thus the stamp duty in Pune has to be paid in full and before the deadline. Stamp duty is necessary for sale deeds, conveyance deeds, transfer of power of attorney, etc.

For example, when selling a used flat, the stamp duty in Pune for a resale flat is to be paid by the buyer to make the transaction official and legally binding. Thus, the stamp duty is essential because the document facilitates the creation, transfer, and closure of any other aspect regarding property ownership. The stamp duty charges in Pune can be paid either based on the specifics mentioned in the instrument or on a fixed basis. If the property is immovable, then the stamp duty must be paid after determining the property’s actual value.

Stamp duty and registration charges in Pune 2024

Stamp duty and registration charges in Pune for 2024 vary depending on the type of property transaction. Sale deeds typically incur stamp duty rates between 5% to 7% of the property value, with registration charges around 1%. For gift deeds, stamp duty is generally 3%, while registration charges remain at 1%. Lease deeds have variable stamp duty rates, and conveyance deeds follow the same stamp duty and registration charge structure as sale deeds. Understanding these charges is crucial for individuals involved in property transactions in Pune.

Factors that Will Determine Stamp Duty and Registration Charges in Pune 2024-25

The state government of Maharashtra imposes registration and stamp duty charges in Pune for all freehold and leasehold land, including agricultural land. These charges also apply to properties such as homes, residential flats and commercial spaces. However, since there are different types of properties, the actual amount of the stamp duty and registration charges Pune depends on certain factors such as:

1. Property Type: The tax paid on commercial properties is comparatively more than the fees paid on residential homes.

2. Property Location: The property location also plays a crucial role in the tax charges. Properties in Rural and semi-urban areas have to pay less than the stamp duty and registration charges in Pune.

3. Market Value: The total area and the property’s market value are also factors that are considered when calculating the current stamp duty and registration charges in Pune.

4. Age & Gender of the Owner: Government often gives extra concessions depending on the age and gender of the owner. Stamp duty and registration charges can be subsidised for senior citizens and women.

Stamp Duty Charges in Pune – Mode of Payments

You can choose to pay the stamp duty changes in the following method that suits you best. There are four modes of payment that are authorised by the governing body.

1. Non-judicial Stamp Paper – This is the least popular mode of payment. It takes more time and is full of hassles (especially during the pandemic). But if this is the chosen method, the buyer has to get physical stamp paper from a licensed vendor and get the executed instrument printed on the stamp paper. This can be a viable option for stamp duty on resale flats in Pune, but it may not be a viable option where the stamp duty is of a larger denomination.

2. Franking a document – This mode of payment depends on the applicant applying with an authorised franking agency or a bank to pay the stamp duty (along with the stamp). However, the maximum stamp duty is capped at Rs. 5000 / document.

3. Electronic Secured Bank Treasury Receipt (e-SBTR) – To make the payment of stamp duty in Pune easier for the buyer, the Government introduced an online payment gateway – Electronic Secured Bank Treasury Receipt (e-SBTR). The applicant must fill the “input form” at the bank branch office that proves the e-SBTR facility and pay the required stamp duty amount. Once the payment is successfully made, the authorities register the details in the Government Visual Treasury to create a pre-printed e-SBTR that serves as proof of payment. However, it is necessary to note that the applicant must physically collect the e-SBTR from the respective bank branch office.

4. Government Receipt Accounting System (GRAS) – If the applicant prefers to do the entire process online, then the government has an electronic payment system GRAS that enables the buyer to pay stamp duty in Pune via an e-challan that is accepted at the sub-registrar’s offices. However, there is a limitation that this can be done only for compulsory registrable documents (as under Section 17 of the Registration Act, 1908). GRAS is the most preferred payment mode for buyers who have availed of a home loan on the property.

Stamp Duty and Registration Charges in Pune For Female 2024

Stamp duty and registration charges in Pune for female property buyers vary slightly from those for male buyers. As of 2024, female buyers often benefit from discounted rates compared to their male counterparts. These charges are calculated based on the property’s market value and are typically lower for women to encourage property ownership. Women buyers can avail of a 1% concession on stamp duty as compared to the usual stamp duty of 6%. Thus, if the stamp duty is 6%, women would need to pay only 5%. This concession in stamp duty is only applicable to residential property, not commercial or industrial property.

Stamp Duty and Registration Charges in Pune for Male 2024

Stamp duty and registration charges in Pune for male property buyers are determined by the property’s market value and prevailing government regulations. As of 2024, male buyers may incur standard stamp duty rates applicable to their property transactions. Male buyers need to familiarise themselves with the current stamp duty and registration charges to make informed decisions when purchasing property in Pune. Consulting with legal experts or local authorities can provide clarity on specific charges applicable to male buyers in Pune for the year 2024. Stamp duty and registration charges in Pune for Males is 7% (Stamp Duty 5%+ Metro Cess 1 %+ Local Body Tax 1%).

Stamp Duty and Registration Charges in Pune for Resale Flat 2024

When purchasing a resale flat in Pune in 2024, buyers need to be aware of stamp duty and registration charges. These charges are calculated based on the property’s market value and vary according to the location and type of property. It’s essential for buyers to thoroughly understand these charges to budget effectively and avoid any surprises during the property transaction process. The current stamp duty and Registration charges in Pune for Resale flat is 5% Stamp Duty + 1%LBT + 1% Metro Cess + 1% Registration Charges (Max. Rs. 30,000/-).

Stamp Duty and Registration Charges in Pune For New Flat 2024

When purchasing a new flat in Pune in 2024, buyers should be aware of stamp duty and registration charges. These charges are based on the property’s market value and are essential considerations for budgeting purposes. Buyers should verify the latest government regulations and consult with legal advisors to understand the specific stamp duty and registration charges applicable to new flat purchases in Pune for the year 2024. The current Stamp Duty and Registration Charges in Pune For New Flat is 5% Stamp Duty + 1%LBT + 1% Metro Cess + 1% Registration Charges (Max. Rs. 30,000/-).

Stamp Duty and Registration Charges in Pune Calculator 2024

Understanding stamp duty and registration charges in Pune is crucial for property buyers. A calculator simplifies this process, providing accurate estimates based on property value. This is how it works:

1. Enter Property Details: Input property details such as type, location, and value into the calculator.

2. Calculate Stamp Duty: The calculator computes stamp duty based on the property’s market value and applicable rates.
   
3. Estimate Registration Charges: It also estimates registration charges based on stamp duty and property value.
   
4. Example: For a property valued at Rs. 50 lakhs, with a stamp duty rate of 6%, the stamp duty would be Rs. 3 lakhs. Registration charges (approximately 1% of the property value) would amount to Rs. 50,000.
   
5. Total Cost: The calculator sums up stamp duty and registration charges to provide the total cost of property acquisition.

Stamp Duty And Registration Charges For Conveyance Deed In Pune 2024

Understanding stamp duty and registration charges for conveyance deeds in Pune is crucial for property transactions. In 2024, these charges are determined based on the property’s market value and type. For instance, the stamp duty rate for conveyance deeds typically ranges from 5% to 7% of the property value, while registration charges are approximately 1% of the property value. Buyers and sellers need to be aware of these charges to facilitate a smooth conveyance deed process and avoid any legal complications. The current stamp duty and registration charges for conveyance deeds in Pune is 3% for properties in gram panchayat areas and 5% for properties in municipal areas.

Stamp Duty And Registration Charges For Gift Deed In Pune 2024

In Pune, stamp duty and registration charges for gift deeds in 2024 are significant considerations for property transfers. The stamp duty for gift deeds is typically calculated at 3% of the property’s market value or the government-determined guidance value, whichever is higher. Registration charges, on the other hand, are approximately 1% of the property’s market value. Both the donor and the recipient must understand these charges to ensure a smooth transfer process and avoid any legal complications.

Stamp Duty And Registration Charges For Lease Deed In Pune 2024

Landlords and renters alike need to comprehend the stamp duty and registration fees associated with lease deeds in Pune. These fees are normally computed in 2024 using the lease term and the total amount of rent due over the lease duration. For lease deeds, stamp duty is 5%. Usually, registration fees amount to 1% of the overall lease amount. For the leasing agreement procedure to go well and to stay out of legal trouble, both parties must be informed of these fees. It is possible to get clarification on the precise fees that will apply to lease deeds in Pune in 2024 by speaking with legal professionals.

Steps for Online Payment of Stamp Duty and Registration Charges for Flats in Pune

Step 1 – Visit https://gras.mahakosh.gov.in/echallan/ (Maharashtra Stamp Duty Online Payment Portal).

Step 2 – Register on the portal if you wish to. (recommended)

Step 3 – If you choose to pay without registering, then click on “Pay without Registration” and then “select citizen” and the type of transaction that you want to do on the new page.

Step 4 – You will see the option to “Pay to register your document”, where you choose to pay just the stamp duty or just the registration or stamp duty + registration fees.

Step 5 – Now, you will need to enter the correct details such as District, Sub-Registrar office, Party details, Property details and Property value details.

Step 6 – This is the last step, and the only thing left to do now is select the desired payment mode and generate the challan.

Ready Reckoner Rates in Pune

The government-set amount below which a property cannot be sold in a particular location is called the ready reckoner rate (RR), sometimes known as the circular rate, and it is used throughout Maharashtra. The stamp duty calculation will still be based on the RR rates if the seller has set the price of the property lower than the government-fixed ready rates.

The buyer can determine the property’s valuation and subsequent stamp duty by multiplying the circle rate by the area of the property.

To illustrate-

Let’s say Dev decides to purchase a house with 500 square metres of carpet. The property circle rate per square metre is Rs 42,760. In this instance, the property’s total worth will be as follows:

500 x 42,760 = Rs 21,380,000 which is Carpet area x rate per square metre

Given that the Pune stamp duty is 5% of the value of the property, Dev will be required to pay Rs 10,69,000 in stamp duty. Dev will pay an additional Rs 30,000 as the registration fee because the property is valued at more than Rs 30 lakhs.

Checklist for Document Registration and Property Registration Charges in Pune

Following documents are needed to ensure that the registration of the documents is done without any hurdles.

• Identity proof documents such as Pan Card, Passport, Driving License, etc. (of the seller as well as the purchaser)
• The original deed document, along with two photocopies that are submitted to the Sub-Registrar of Assurances.
• The proof of payment (challan) of the Stamp Duty.
• Payment details of the transaction
• The Khata certificate and receipt of taxes paid

Points to Consider Before Paying Stamp Duty in Pune

When it comes to paying stamp duty in Pune, it’s important to be well informed about the process and the factors that can affect the stamp duty rate. To ensure a smooth transaction, here are some key points to consider before paying stamp duty in Pune:

• Verify the property documents: Before paying stamp duty, make sure that the property documents are in order and that there are no legal disputes related to the property.
• Check the stamp duty rate in Pune: The stamp duty rate in Pune is set by the Maharashtra government and can vary based on factors such as the type of property, the purpose of the transaction, and the buyer’s age.
• Calculate the total cost: In addition to stamp duty, there are also registration charges that must be paid. Calculate the total cost of stamp duty and registration charges to ensure that you have enough funds to complete the transaction.

What Are the Factors That Affect Stamp Duty in Pune?

The amount of stamp duty you’ll need to pay in Pune is affected by a variety of factors. Understanding these factors can help you estimate the total cost of the transaction and make informed decisions when purchasing a property. Some of the factors that can affect stamp duty in Pune include:

• Type of property: Whether you’re buying a residential or commercial property can affect the stamp duty rate.
• Purpose of the transaction: The stamp duty rate can also vary based on whether the property is being purchased for personal use, investment, or commercial purposes.
• Buyer’s age: The stamp duty for senior citizens may be lower than for other buyers.
• Location of the property: The location of the property can also affect the stamp duty rate in Pune.

Are Tax Benefits Available on Stamp Duty and Registration Charges?

While stamp duty and registration charges can be substantial, there are tax benefits available to help offset the costs. It’s important to understand these benefits and how they can help you save money. Here are some of the tax benefits that may be available in Pune:

• Tax deductions under Section 80C of the Income Tax Act: You may be eligible to claim a tax deduction for the amount paid towards stamp duty and registration charges, up to a limit of INR 1.5 lakhs per financial year.
• Tax benefits for first-time home buyers: If you’re a first-time home buyer, you may be eligible for additional tax benefits, such as a tax deduction for the interest paid on a home loan.

Understanding the exact stamp duty and registration charges in Pune for your home can be tricky if you have not done the process before. This is why NoBroker offers professional and expert help to home buyers who wish to take help from people who have plenty of experience in paying stamp duty and registration charges. Our experts help you understand the entire process and help you until the registration is done successfully. If you wish to consult our expert, just drop a comment below this article, and our team will reach out soon.

Frequently Asked Questions

Posh Areas in Pune to Help You Live Life Luxuriously

Over time, the cultural capital of Maharashtra, Pune is gaining more importance in terms of property values. There has also been an increase in the number of posh areas in Pune due to new start-ups, and multimillionaires wanting to invest in these areas. Traditionally, backed-up crowds i.e. old residents who have ancestral plots are attracting luxurious apartment builders and real estate investors in these Pune posh residential areas. So, if you are looking for the best area to live in Pune for your family or simply understand which are the best residential areas in Pune, read on!

Trends Of Luxury Properties in Pune

If you are looking for the top localities in Pune, you should know about the trends associated with the luxury properties in the market. For example, recent reports have highlighted how NRIs are scouting for the best areas to live in Pune from the vast number of properties available in the city. More and more reputed real estate developer brands are building gated residential destinations in the scenic city among the ghats, making this a great investment opportunity for many. With more urban students and job opportunists coming to the city for a better life, the robust market is also ripe for a profitable rental market.

Top 10 Posh Areas in Pune

Let’s take a look at an in-depth description of the top 10 posh areas in Pune.

1.New Kalyani Nagar

New Kalyani Nagar, being an extension of Kalyani Nagar, is witnessing some major residential and commercial growth. For a newcomer to the city, Kalyan Nagar can be considered to be the best area in Pune. New Kalyani Nagar is easily commutable to other famous places in the city of Pune. This place is among the best places to live in Pune and is also close to the airport and railway station. Since it is also an IT hub, it gained importance among the IT crowd and became the best area to live in Pune for family. The neighbouring locality to New Kayani Nagar is Koregaon Park, another Pune posh area name. You can also find apartments and luxury homes from popular builders making it a posh area in Pune. One may not worry about entertainment while residing in this area since there are many restaurants, pubs, and malls here among other popular places in Pune.

Read: Leading Schools in Hyderabad for Your Kids in 2023

Popular places near New Kalyani Nagar: Aga Khan Palace, Joggers Park, National war museum, Trump tower, Marigold Multiplex, etc.

2. Eran Dwane

Eran Dwane is home to many film schools as it has the famous Film and Television Institute of India here. This place is considered to be the most expensive area in Pune and has grown significantly during the past 3-5 years. One of Pune’s best residential areas, it has well-established amenities and infrastructure making it one of the poshest areas in Pune. Eran Dwane is the first choice of people who are willing to buy spacious and luxurious villas. There are options for huge bungalows, high-end apartments, housing complexes, etc. Commuting here is very easy as it is near the railway station and the airport too.

Popular places near Eran Dwane: Film and television institute of India, Kothrud, City Pride Multiplex, etc.

3. Shivaji Nagar

Shivaji Nagar is one of the greener areas of Pune. This is an area that has many important government offices, city courts, and educational institutions and yet makes it to our list of richest areas in Pune. This place got its popularity when famous builders bought land to build houses here. The growing housing demand made this place grow into a posh locality in Pune. The greenery in Shivaji Nagar is welcoming many residents to invest in properties here. Real estate is booming here as land prices are expected to rise even more in the next few years.

Read: 7 Fascinating Places to Visit Within 100 Km of Pune

Popular places near Shivaji Nagar: Darshan Museum, Neelkanth Eshwar temple, Ohel David Synagogue, Tribal cultural museum, Loha gad fort, etc.

4.Koregaon Park

Koregaon Park is well-known for its greenery and cleanliness. This is one of the prominent places in Pune that has commercial establishments and luxurious villas amidst greenery. Koregaon Park is not just a prestigious place for residential purposes but has turned into a commercial place too. This locality has many restaurants and pubs that attract the youth. When it comes to commuting to Koregaon Park, the well-planned roads here are a blessing. The city centre can be accessed through the Agha Khan Bridge.

Read: Places to Visit near Bangalore within 100 km

Popular places near Koregaon Park: Wagaskar PMC Garden, Jewel Square Mall, Penthouze Nightlife, etc.

5.Boat Club Road

Located to the east of Pune, Boat Club Road is also an attractive and posh area in Pune. It has ultra-luxury housing villas and bungalows. This place got the name the Royal Connaught Boat Club and is the favourite place for well-funded start-ups in Pune. The Pune-Mumbai highway keeps this locality well connected to the rest of the city and is also a key reason for its growth. You get all the amenities required within a 2 km radius. The rentals are very high as this place is one of the luxury areas in Pune. Boat Club Road is near a railway station and airport which makes it easy to travel. Since there are many entertainment options like malls, food stalls, market places, etc., the Boat Club Road is very lively and most active of all.

Popular places near Boat Club Road: Bhuleshwar temple, Rajgad fort, Peshwa Udyan, etc.

6. Kothrud

Did you know that Kothrud has a place in the Guinness Book of World Records as Asia’s fastest developing suburb? Kothrud is situated in the South-West region of Pune and has experienced rapid growth in real estate in the past few years. It has some lush residential properties and also commercial buildings. The well-developed social and civic infrastructure makes Kothrud the most in-demand residential place among all the others. The IT companies and the well-known colleges here make this place a favourite for both professionals and students.

Popular places near Kothrud: Peshwa temple, the Tekdi, Cycle Museum of Vikram Pendse, Museum of miniature railways, etc.

7. Wadgaon Sheri

Catering to many IT companies, educational institutions, health centres, and eateries, Wadgaon Sheri is one of the popular posh localities in Pune. The connectivity to this place is very well suited for all and is the most sought locality for residential purposes. Being just 5 km away from Pune International Airport and 6.5 km from Pune Railway station, Wadgaon Sheri has become one of the upmarket areas in Pune. You can rent a house or apartment at around Rs. 8,000 to 10,000 based on your requirement.

Popular places near Wadgaon Sheri: Raje Chatrapati Shivaji Maharaj Udyan, Shaniwar Wada, Khadakwasla Dam, Morya Gosavi Ganapati Mandir, etc.

8. Senapati Bapat Road

Senapati Bapat Road is one of the well-known posh areas in Pune which is located on the West side of Pune. It gained popularity because of Symbiosis College. This is a straight road comprising malls, hospitals, temples, and tall towers. The area connects Aundh, Model colony, Baner, Pashan, Pune University, Shivaji Nagar, and many more areas. You can rent villas, bungalows, and apartments for your luxury living.

Popular places near Senapati Bapat Road: Keventers, Pune Baking Company, Paasha, Swig, Open-air gym, Chaturshrungi temple, etc.

9.Model Colony

Situated very close to the Railway station and many other educational institutions, Model Colony makes it to the posh areas in Pune list. The basic amenities like hospitals, schools, colleges, markets, malls, etc. can be found near Model Colony. Hence, this is one of the poshest areas in Pune. This is the first choice of the home buyers as it has many eateries, hotels, shopping malls, markets, theatres, etc. The rent for this place varies from Rs. 15,000 to 20,000.

Popular places near Model Colony: La-Ka-Ki bird watching, Rock climbing, Chittaranjan Vatika, Charka story, etc.

10. Sopan Baug

Sopan Baug is located in the Northern region of Pune which has a very well-planned infrastructure and connectivity to the other places of Pune. This makes Sopan Baug one of the posh places in Pune. This place attracts people with its green, clean, and wide-open spaces. It is located near the Railway station, Airport, and Central Business District (CBD), which makes it a favourite place for residents to live in. The amenities available are high-end like private pools, landscaped gardens, etc. along with all other basic amenities like schools, colleges, restaurants, and pubs. The house rentals are around Rs. 30,000 to 50,000 for a 3 BHK flat.

Popular places near Sopan Baug: Devi Empress Court, Malshej Ghat, Shree Dnyaneshwar Maharaj Sansthan Committee, Bund Garden, Pawana Lake, etc. among other popular places in Pune.

Property Rates at Posh Areas in Pune

Which area in Pune has the highest rent?

It is difficult to determine a specific area in Pune that has the highest rent as it can vary depending on the type of property and location. However, generally speaking, areas such as Koregaon Park, Kalyani Nagar, and Baner tend to have higher rental prices compared to other areas in Pune.

The booming IT sector, pleasing climate, tourism, educational opportunities, etc. make Pune a wonderful place to reside in. We have collated our top 10 posh areas in Pune to live a luxurious life by comparing various pointers like amenities, connectivity, lifestyle, educational facilities, healthcare, eateries, etc. If you are planning to buy a home or relocate to Pune, you can have this list handy. Book your home without making a dent in your pocket as the real estate is just rising and you can get steal deals while buying properties with NoBroker. If you need a bit of assistance, why not click the link below to find your home faster and WITHOUT brokerage?

Frequently Asked Questions

Tenant Police Verification in Pune – Ensuring Rental Security

Pune is the bustling city of corporate opportunities and academic excellence. As the city is thriving, the demand for safe and affordable housing is also going up. This is where Tenant Police Verification in Pune emerges as a crucial safeguard. In this urban landscape, where students and professionals seek rental abodes, landlords rely on Tenant Police Verification in Pune to ensure safe living spaces.

What Exactly is the Tenant Police Verification?

Under the Indian Penal Code (IPC) and its Section 188, all landlords must undertake police verification for renting out their properties. This covers order violations as declared by any public servant, convicts are punishable with simple imprisonment for a tenor which may go up to one month or a monetary fine of Rs. 200. If something goes wrong with the tenant or any illegal activity takes place, the landowner will be the one facing the repercussions. Hence, tenant police verification is one of the most crucial steps in the renting process.

Why is Tenant Police Verification Important?

Here are some significant reasons to carry out online police verification for tenant in Pune:

Documents Required For Tenant Police Verification

The documents required for tenant police verification in Bengaluru can vary slightly depending on the city or state, but here’s a general list:

• Completed Tenant Verification Application Form: This can usually be downloaded from the local police department’s website or obtained from the police station itself.
• Payment Receipt (if applicable): Some cities/states might require a fee for police verification. You may need to pay this fee at a designated centre and keep the receipt for your records.
• Copy of the Signed Rental Agreement: This is to prove your tenancy at the property.
• Photocopies of ID Proof (for Tenant and Landlord): This can include documents like Aadhar Card, Voter ID, Driving Licence, or Passport. Make sure to carry the originals for verification purposes as well.

Pune Police Verification Process for Tenant

There are two ways to get this done:

1. Offline process
2. Online process

Offline Process: Step-By-Step Guide

For those who opt for a traditional police verification form for tenants in Pune, landlords can proceed with the following steps:

• Step 1 – Acquire the Offline Verification Form: Acquire the tenant verification form offline, either from the nearby police station or by downloading it through the official website.
• Step 2 – Form Completion: Fill out the form with comprehensive details regarding both the landlord and the tenant. Attach their identification proofs, address proofs, and recent passport-size photographs.
• Step 3 – Submission at Local Police Station: Upon confirming the accuracy of the provided information, endorse the relevant sections of the form and deliver it to the local police station. The verification process will be supervised by the overseeing sub-inspector.

Tenant Information Form

Online Process: Step-By-Step Guide

Theonline application for police verification (Pune) is an extremely popular, quick, and convenient method that not only helps the citizens but also the government. Needless to say, the introduction of the online process has led to a sudden rise in the number of documents being registered in the city.

Getting an online police clearance certificate in Pune is simple. The landlords can easily fill up and submit the tenant police verification form online and get the police verification online Pune for rent. However, the landlords might have to visit the police station for verification if required. In fact, in Pune, online police verification of tenant’s information by the landowners is an important step after receiving the Leave and License agreement is registered.

Here’s a detailed guide on how to carry out online tenant police verification in Pune:

• Step1: Start by visiting the Maharashtra Police Clearance Services official website.
• Step2: Register by locating the option in the ‘Login’ section, either by creating a new user ID or using existing login credentials.
• Step3: Select the desired service under the “Services” tab and
• Step4: Input your address details, moving to the next step.
• Step5: Continue the process by providing occupation and education information on the subsequent page.
• Step6: Enter general information as required and proceed to enter details about your local police station.
• Step7: Save your progress, receiving an application ID.
• Step8: Upload a passport-sized photo and digital signature as instructed.
• Step9: Upload the documents needed and review all information for accuracy.
• Step10: Click ‘Submit’ at the bottom of the page.
• Step11: Complete the payment using your preferred method, and upon successful payment, a receipt will be generated.
• Step12: The local police station conducts the verification process, and if necessary, the tenant might need to visit for additional checks.
• Step13: After the verification, download the Police Clearance Certificate (PCC) from the website.

Online Police Verification Pune Charges

The charges for online police verification in Pune are nominal. Landlords typically initiate the process, and they are charged a fee of ₹500 by the Maharashtra Police for tenant verification. You can find this information on various real estate websites or the Maharashtra Police website itself.Check the official Maharashtra Police website (https://pcs.mahaonline.gov.in/) for the latest updates on online police verification and any associated fees.

Pune Police Clearance Certificate (PCC): Police Verification in Pune for Tenants Online

The government has issued the Tenant Police Verification clause for public safety. An FIR could be lodged against a landowner for renting out a property to a Tenant without Tenant Police Verification in Pune. Hence, it is strongly recommended to get the details of your tenant registered with the police before trusting them with your apartment and get Pune Police Clearance Certificate. Save yourself some trouble and find trustworthy tenants with extremely reliable sources on Nobroker.in.

Click here for more information about Pune Police and other general inquiries.

Your home is your safe space. Renting it out to someone involves trust. Hence, it’s extremely important to carry out Tenant Police Verification to ensure the safety and security of your residential space.

Frequently Asked Questions

Everything You Need to Know About the Ready Reckoner Rate in Pune

The Ready Reckoner rate, also known as the circle rate, is the bare minimum value at which a property must be recorded in the event of its transfer. Each year, all state governments publish area-wise ready reckoner rate Pune of properties to prevent evasion of stamp duty by the undervaluation of agreements and reduce the number of disagreements over the amount of stamp duty to be collected. Each year an ASR (Annual Statement Rate or Ready Reckoner Rate) is set, and it is made applicable for the period of 1st April to 30th March – fiscal year. So, the EASR rates in Pune for 2023 are not out as of now.

What is the Relevance of Ready Reckoner/Circle Rates in the Financial Markets?

In Maharashtra, the Ready Reckoner (RR) rate is referred to as the Circle Rate, but in Delhi, the Circle Rate is referred to as the Circle Rate. According to the government, this rate represents the minimum property values in a variety of areas. Every state, every city, and even various neighbourhoods inside those cities have a distinct rate. Officials assess the price of real estate in a certain location by taking into consideration many elements. Based on these considerations, a benchmark is established below which no real estate transaction occurs in that specific neighbourhood. This rate is referred to as the Ready Reckoner rate or Circle rate in the industry. It is the bare minimum on which the government will levy stamp duty and registration costs, as determined by the government.

How to Calculate Ready Reckoner Rate Pune?

Suppose you acquired a residential property at a market price of Rs 6,500 per square foot (or Rs 6,500 per square metre). If the ready reckoner rate for the area is Rs 5,500 per sq. ft, you would be required to pay the stamp duty and registration fees on the higher value, which is the market value, to avoid double taxation. In any event, property registration in that area cannot take place if the property’s value is less than the minimum value set by the ready reckoner rate Pune at the time of registration.

A property’s rental rate is often lower than the current market rate for such property in a given location. Therefore, the rate is evaluated and updated regularly to bring it closer to market rates. State governments want a benchmark such as the ready reckoner rate Pune 2022-23 to guarantee that they do not miss out on an important source of income since real estate transactions take place in the private sector and the price is not always revealed. Most real estate transactions in India are conducted based on the current market pricing in a given location. Based on this circle rate in Pune, the stamp duty and registration costs that the house buyer will pay will be computed. For example, the ready reckoner rate in Aundh Pune decides the circle rate for this area i.e- ₹ 1.04 Lakh for residential flats and ₹ 1.26 Lakh for office property.

So, when the interest rate differential between the reserve and the market is large, it reduces government revenues. Stamp duty and registration costs will be computed using the RR rate in rare circ*mstances when the redirection rate in Pune is greater than the current rate. However, increasing registration fees deter property purchasers from putting their homes on the market. The state government may promote transparency in real estate transactions while also ensuring they do not miss out on money by regularly modifying the online ready reckoner Pune rate 2023 and bringing them closer to market pricing in each location. For example, Balewadi ready reckoner rate determines the circle rates in Balewadi which is set at Rs.47,100 – for flats and Rs.73,010Rs.17,830 – Rs.29,480 for residential lands.

What is the Effect of a Change in the Ready Reckoner Rate on Demand?

The state governments collect stamp duty and registration fees on the stated value of a property or the circle rate, whichever is greater when it is purchased or sold. These fees are often expressed as a percentage of the total transaction amount, and they vary from state to state. Depending on the state, the fee might be up to 8-10 per cent of the total transaction amount. Despite this, given the downturn in the real estate market during the last five or six years, it is feasible to find a home for less than the ready reckoner rate in Pune in certain areas.

In circ*mstances when the actual price paid by a buyer is less than the ready reckoner rate, the property must be registered using the ready reckoner rate as the basis for registration using the Ready Reckoner Maharashtra Mobile App.

In this way, property buyers and sellers are discouraged from selling or purchasing below the ready reckoner rate Pune IGR. This is because, if they do, the buyer will be required to pay more stamp duty, and the seller will be required to pay additional capital gains tax on any notional profits. It is possible to benefit both buyers and sellers by lowering the ready reckoner rate or putting it in line with the current market pricing, which may assist in rekindling demand in the industry.

Ready Reckoner Rates: Problem Areas

Purchasers often conspire with sellers and agree to register the property at the circle rate to save money on taxes. In contrast, the seller is forced to pay at the current market rate, reducing the buyer’s tax liability. This allows sellers to reduce their capital gains tax liability, allowing purchasers to reduce their stamp duty liability. The buyer pays the remainder of the purchase price to the seller in cash at this point. The authorities suffer an income loss as a result of this. To maintain the ready reckoner land rates in Pune as near the market rate as possible, authorities regularly alter the RR rates.

Ready Reckoner Rate PuneDistrict – Latest Information

In June 2021, the Municipal Corporation (MC) proposed to collect property tax based on the most recent ready reckoner rates, which would result in a 14 per cent increase in the amount of property tax collected. The proposal was made before the civic body’s standing committee by the Assessor and Collector Department. The rise, on the other hand, will not affect homes with less than 500 square feet. After receiving the standing committee’s approval, the change of the regulations will become effective on April 1, 2021, and will remain in force until March 31, 2025.

Redireknar Rate Aundh Pune

The current rate in Aundh is Rs. 1.04 lakh for residential properties and Rs. 1. 26 lakh for commercial offices.

Ready Reckoner Rate Hadapsar Pune

Hadapsar is an up-and-coming locality in Pune, and the circle rate is Rs. 80,000 for residential flats and Rs 85,000 for offices.

Ready Reckoner Rate Dhayari Pune

Known as Sinhagad annex, the government ready reckoner rates Pune for Dhayari locality in Pune is Rs. 52,000 for residential properties and Rs. 55 000 for commercial offices.

Redireknar Rate Warje Pune

Warje is one of the most in-demand localities in Pune, and the ready reckoner rate for flats is Rs 48,000, and for office, premises is Rs. 68,000.

Redireknar Rate Karve Nagar Pune

The average ready reckoner rate in Karvenagar is approximately Rs. 77,500 to Rs. 1.31 lakh.

Ready Reckoner Rate Balewadi Pune

Closer to the Pune-Mumbai highway, Balewadi’ ready reckoner rate for residential properties is Rs. 57, 000 and for commercial office spaces is Rs, 85,000.

Redireknar Rate Lohegaon Pune

Knowing that Pune International airport is the home, the ready reckoner rate in Lohegaon for flats is Rs. 65,000 and for offices is Rs. 87,000.

Redireknar Rate Katraj Pune

The ready reckoner rate in Pune for Katraj locality ranges between Rs. 54,000 for residential properties and Rs. 76, 000 for commercial properties.

Ready Reckoner Rate Kharadi Pune

Kharadi is one of the biggest IT parks in the city, and the ready reckoner rate for residential flats is 51,000 and for offices is Rs. 73, 600.

Ready Reckoner Rate Hinjewadi Pune

The circle rate for residential flats in Hinjewadi is Rs. 53,780 and for offices is Rs. 88, 500.

Ready Reckoner Rate Undri Pune

One of the most prominent localities in the PCMC area, the ready reckoner rate Pune for Undri locality is Rs. 49, 450 for apartments and Rs. 61,000 for offices.

Redireknar Rate Rahatani Pune

The ready reckoner rate Pune for Rahatani locality residential flats is Rs. 39,760 and for commercial offices is Rs 63, 500.

Ready Reckoner Rate Manjri Pune

Manjri is one of the hottest localities in Pune, and the circle rate is Rs. 55,000 for residential flats and Rs 65,000 for offices.

Redireknar Rate Viman Nagar Pune

Popularized as the student capital of Pune, the current ready reckoner rate in Pune for residential flats in Viman Nagar is Rs 38,040, and for commercial offices, the rate Rs. 75,420.

Redireknar Rate Dhanori Pune

The ready reckoner rate in Pune for the dhanori area residential flats is Rs. 46, 640 and for commercial properties is Rs. 76,190.

Apart from knowing the ready reckoner rate in Pune, there are several other taxes and administration fees that one needs to pay before finalizing the buying or selling of the property. Searching for properties that perfectly suit your requirements is easy and quick if you have NoBroker to help you. Enter the key details about the property in the mobile application or web portal and find hundreds of properties within seconds! If you need to consult an expert, comment below this article and our executive will be in touch with you shortly.

FAQ’s

Property Tax Pune – How to Pay Property Tax Online

What are the exemptions or concessions available when you pay your property tax?

Pune Property Tax: Tips to Remember

1. Pune Municipal Corporation is responsible for all homes, businesses, and other structures, as well as for vacant areas. The method used to determine a tax on any property is a capital-based valuation system.
2. The revenue department’s ready reckoner, which is used to determine stamp duty, is used to determine the property tax, which is based on a percentage of the property’s actual value.
3. You have until May 31 to make your first half-year (April to September) property tax payment. To avoid penalties, the second half (October to December) must be paid in full by December 31. In the event that the payment of property taxes is postponed, a penalty of 2% is assessed monthly starting on July 1 for the first half-year and January 1 for the second half-year.
4. Additionally, there are tax rebates available if you pay your property tax by the due dates.

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FAQs

FSI In Pune 2024: Calculate FSI In Pune Municipal Corporation

FSI is a very common real estate term used very often to describe a property. FSI in Pune city refers to the ratio between the complete built-up area of a plot and the available plot area. The guidelines for FSI for residential building in Pune are determined by the government of the region and follows the National Building Code for the entire process. FSI is also commonly known as Floor Size Ratio or Floor Area Ratio as per the region of usage.

Know More About What is FSI in Pune?

In Pune, the Floor space index is amended every few years and for property owners in Pune, it is absolutely necessary to stay up to date with the latest guidelines and new FSI rules in Pune. Floor Space Index Pune is a very important parameter for the government to keep a track of the development and redevelopment projects undergoing in the city. The government needs to track these details as any city has limited space. With such limited space and a growing population, the government keeps track of the FSI Pune value.

FSI Calculator Pune: How to Calculate Floor Space Index Pune?

If you are wondering how to calculate FSI in Pune, the floor space index value of different properties in Pune can be equal if the building size differs visually. Based on the new floor space index rules in Pune, it can be calculated as:

Floor Space Index = Total area of the building floor/Gross Plot Area

Key outcomes:

• The ratio of square footage refers to the exact proportion of the entire useable surface area of a particular building in comparison to the total area of the land.
• A larger ratio would, in all likelihood, be indicative of a region that is heavily urbanised or has a dense population.
• The FSI would be significantly different for different types of structures, such as residential, industrial, agricultural, or commercial land, depending on the type of land.

The FSI of a place can differ significantly based on certain factors. Generally, the factors that are considered include parameters like construction exercises, population dynamics, growth models and the nature of the space. Even the type of land can significantly affect FSI value depending on whether it is a residential, agricultural, commercial or industrial plot.Even the type of land can significantly affect FSI value as well as premium FSI charges calculation, depending on whether it is a residential, agricultural, commercial or industrial plot.

The floor space index in Pune is considered to be one of the very crucial factors for the city’s development. A low barrier is a real estate limitation as it complicates the process of construction. The real estate industry wants a higher FSI for the lands so that direct benefits can be extended to the estate developer. This will result in the strengthening of the housing sector and more houses can be constructed in the same space, leading to higher sales. A higher FSI also equated to more demand in the area. Currently, the floor space index for redevelopment in Pune is 1.10.

Online FSI Calculator

FSI calculators have become valuable tools for individuals and real estate professionals alike. These calculators, available on various online platforms, offer a convenient way to estimate Floor Space Index for a given property. By inputting relevant details such as plot area, construction type, and location, users can quickly obtain an approximation of the FSI, aiding in informed decision-making during property transactions and development projects.

How Much FSI is Allowed in Pune?

The Pune government follows a transit-oriented development approach. This allows the Pune government to keep the maximum floor space index in the city at 4. The floor space index in Pune in 2022 is 1.10. The FSI score of the areas of Pune can be categorised as:

Area-wise FSI in Pune 2024

Here is the floor space index in Pune for some of the top areas:

• FSI in Baner: 1.10
• FSI in Kotrud: 1.10
• FSI in Lohegaon: 1.10
• FSI in Wagholi: 1.10
• FSI in Hadapsar: 1.10
• FSI in Hinjewadi: 1.10

What is the Most Significant Benefit of the FSI?

The FSI may be regarded as a major real estate limitation but it has many benefits for a progressing city like Pune:

• Managing the ratio between open space to developed space to an optimum level.
• Managing the city’s ecosystem and space.
• Measure a project’s stable development
• Managing the right balance between the supported, planned growth & development is very necessary

Ancillary FSI in Pune

Ancillary FSI, or ancillary area Floor Space Index, refers to an additional floor space allowance beyond the basic FSI (Floor Space Index) granted for a construction project. In the context of Pune, ancillary area FSI is allowed up to 60% of the proposed FSI in the development permission, with the possibility of an extension to 80% for non-residential use. This additional FSI incurs a premium payment, which varies based on the local authority or area.

The Ancillary FSI charges in Pune differs across regions, such as 15% for Pune and Thane Municipal Corporation, 10% for Nagpur, Nashik Municipal Corporation, and others.

Ancillary FSI is integrated into the overall FSI calculation, including permissible FSI, premium FSI, TDR, and additional FSI. The purpose of ancillary FSI is to provide flexibility for certain constructions, allowing for increased floor space beyond the basic limits, subject to premium payments and local regulations.

With so many developing areas, Pune has emerged as one of the most preferred cities to live in. FSI in Pune is the maximum permissible area allowed by the Municipal Corporation for development. Based on the guidelines set by the government, these parameters keep changing from time to time.
Therefore, navigating FSI nuances alone can be challenging. NoBroker, with its legal expertise, simplifies the complexities, ensuring a smooth journey through Pune’s real estate landscape. Consult NoBroker today to experience a hassle-free approach to all your property concerns.

Frequently Asked Questions

Property Card in Pune: The Official Record of Ownership

A property card is an official document stating ownership of a property. It contains important information about the property like carpet area, amenities and bank loans against the property. A property Card Pune serves a similar purpose. Property Cards were launched through the centre’s ‘SVAMITVA Scheme’ that aims at empowering the weaker sections of the societies by using the property as a financial asset for taking loans and other such benefits. Let’s take a look at Property Card, Pune in detail

What Is a Property Card/ Malmatta Patrak/ Sampatti Card?

A Property Card is a relatively urban concept. Launched under the centre’s ‘SVAMITVA Scheme’, a Property Card is an official document stating details about the property such as ownership records, carpet areas, amenities available etc. Property Card is called ‘Malmatta Patrak’ or ‘Sampatti Card’ in the state of Maharashtra. It is a useful document used by the local authorities to maintain important records about any property falling in the urban limits of Maharashtra. Whereas, in rural areas, a 7/12 extract is considered as an official record.

PMC Property Card

The Property Card for flat owners in Pune is issued by the Pune Municipal Corporation. The Pune Municipal Corporation’s Property Card contains a list of holding of the owners and other important property details. A Property Card is also known as Malmatta Patrak in Pune.

Importance Of Property Card Pune

A Property Card is a very important document for residents of Pune aiming to purchase a property or land, as it is mandatory to check the property card as an important proof if property ownership. In fact, the guidelines of a property card keep expanding including details such as the area, mortgage, loans taken, any previous owners, etc. so that more and more transparency is brought into the process, and the probability of frauds are minimal.

What Are the Details Included in Property Card?

The property cards are an important holder of information about the owner, the property, the history of ownership of the property in the past, as well as the history of land holdings in the surrounding urban areas. Also known as Malmatta Patrak, a.k.a Mahabhulekh property card Pune certifies the real landowner, helps detect any false claims on a property, is used for litigations in the court regarding land issues, and even prevent any legal hassle altogether for the property in the future. Essentially, the key details included in a Property Card, Pune are:

• Owner’s Name along with history of ownership
• City Title Survey (CTS) number of the land (search for city survey Utara online Pune to know more)
• Exact Location of the land
• Plot number
• Area of land in square meter
• Details of litigations (closed and pending)
• Encumbrance and mutation record
• Details of loans taken by the landowner from Government agencies.
• Details of unpaid taxes pending on the land.

Features Of Property Card, Pune:

A property card is an important official document that is required for a lot of transactional and verification purposes. Since Property Cards or Malmatta Patrak in Pune contain details like ownership records, address, tax and loan details etc., it helps the government in creating a database of flat owners with their details. Some important uses of a Property Card, Pune is:

Read: Circle Rates Gurgaon 2022: A Guide to Property Registration Process in Gurgaon 2022

1. Buying a land
2. Buying a Flat
3. Resolving Court Litigations

The process for applying for a Property Card in Maharashtra is fairly simple. Let’s take a look at how to apply for a Property Card in Pune

How To Apply for Property Card Pune Online

The Government of Maharashtra has made it very easy to apply for and view property cards.

For convenience, the property card application is collected through both online and offline modes.

In-Person Application

1. Applications for Property Card, Pune can be made in person in the offices of the Land Record Department of Maharashtra.
2. Fill out the application with all the required documents
3. Fill in other information if required.
4. Post successful verification of your application and submitted documents, the authorities will issue your
5. After the authorities validate your application and the documents that are submitted, they will issue a certified copy of the Property Card in the Pune Suburban District.

CTS Number:

You will be required to fill out the City Title Survey number in your application. CTS number is a unique identification number registered against your property. If you are wondering how to find the CTS number of property in Pune online, you can simply view your City Survey Number Online in Pune or visit the CTS Office (CTSO). If needed, you can find your CTS number online in Pune too

How To View & Download Property Card Online Pune

If you are wondering about how to get Property Card online in Pune, simply follow the steps below as the entire procedure can be completed on Maharashtra Government’s Aaple Sarkar website, i.e. https://aaplesarkar.maharashtra.gov.in/en/. You can also easily view property card online Pune city as well through the process:

1. The applicant will need to apply with his information through the website. They can create a user ID and set credentials.
2. The applicant can log in using the credentials and fill out the form accordingly.
3. Submit the application.
4. After applying, the applicant will receive a confirmation number for future reference.
5. The portal also allows the applicant to track application status under the “Track your Application” section. The online property card Pune can be downloaded and used for relevant purposes.

The user can now view their name in the Revenue Department Property Card details.

Details Required to Apply for a Property Card:

• Ward number
• City survey number
• Final plot number and description if any
• Map
• Vasalewar
• Mutation number
• Property card (Number of copies)
• Enquiry Register Extract (number of copies)
• Office order date and number of copies

How To View Property Card Pune Online?

After successful completion of the procedures, a user can view Digital Property Card Online in Pune City through the Mahabhulekh (Maharashtra Bhumi Abhilekh) Portal. The Mahabhulekh property Card, Pune will give you all the information about your property. To view Property Card online in Pune:

1. Visit the official website of Mahabhulekh Property Card, Pune.
2. Toggle down and choose your district.
3. After redirection, click on the view property card section and select your property details from the drop-down menu.
4. The user can view their Online Property Card, Pune.

Best Way to View Pune Property Cards Online

After completing the necessary procedures, users of the Mahabhulekh (Maharashtra Bhumi Abhilekh) portal can view property cards in Pune online. Pune’s Mahabhulekh property card can give you all the details you require about your house. Go to http://www.propertycard to view an online property card for Pune.

• Go to the official Mahabhulekh Property Card website in Pune.
• Swipe down to select your district.
• Pick your property details from the drop-down menu in the “view property card” section after being redirected.
• Online access to the user’s Pune Property card is available.

How To Download Property Card Pune Online?

Users can download their Property Cards online on mahabhumi.gov.in. By filling out the details about the property and filling out the CTS number, the applicant can download the property card online in Pune city.

Conclusion: A Property Card has emerged as a very important financial asset for the weaker sections of the society in the state of Maharashtra. With a Property Card, Pune flat owners can avail benefits against their properties. Getting a Property Card, however, requires a lot of paperwork and the rules and regulations keep getting updated. What you need is an expert on your team. With NoBroker’s expert consultation, you can make sure your property papers are always flawless and you have all the legal guidance you require. Just drop in a comment below this blog and our experts will get in touch with you. Or click this link to get your legal queries solved:

FAQ’s