Current Stamp Duty Rates in Goa
Stamp duty in Goa is calculated on the higher of the sale consideration or the market value (Ready Reckoner rate). The current rates are: 3.5% for properties valued up to ₹50 lakh, 4% for properties between ₹50 lakh and ₹75 lakh, 4.5% for properties between ₹75 lakh and ₹1 crore, and 5% for properties valued above ₹1 crore. An additional 1% registration fee is charged on top of stamp duty.
Who Pays What
By convention in Goa, the buyer bears the entire cost of stamp duty and registration. However, this is negotiable between parties and should be explicitly stated in the sale agreement. In some high-value transactions, costs are shared. The seller is responsible for their own capital gains tax obligations and any pending property tax arrears.
Calculating Your Total Closing Cost
Beyond stamp duty and registration, budget for: legal fees (₹15,000 to ₹50,000 depending on complexity), brokerage (typically 1-2% of sale value), mutation charges at the Mamlatdar's office, and any pending utility transfers. For a ₹1 crore property, expect total closing costs of approximately ₹7-8 lakh including all fees and charges.
Ready Reckoner Rates
The government publishes Ready Reckoner (RR) rates annually for every area in Goa. These rates set the minimum value for stamp duty calculation — even if you negotiate a lower sale price, stamp duty is charged on the RR rate if it's higher. You can check RR rates at the Inspector General of Registration's office or on the IGR Goa website. RR rates vary significantly — prime Assagao land might have a very different rate than interior Pernem.
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