Table of Contents
- Latest Updates on IGR Karnataka
- What is the Department of Stamps and Registrations?
- Features of IGR Karnataka
- Features of Kaveri Online Services:
- What is Stamp Duty?
- How to Pay Stamp Duty in Karnataka Online?
- How to calculate Stamp Duty?
- How to calculate Property Market value on IGR Karnataka?
- What is Model Deed Service under IGR Karnataka?
- Janaspandana - Integrated Public Grievance Redressal System under IGR Karnataka
- Faq's
Like most states in India, the Inspector General of Registration in Karnataka (IGR Karnataka) is responsible for levying and collecting stamp duty and registration charges on property transactions. IGR Karnataka falls under the Department of Stamps and Registrations and comes under the administrative control of the government of Karnataka, headed by the Revenue Minister of Karnataka. IGR Karnataka has its Online Services Portal called Kaveri Services 2.0 through which users can avail services like calculating registration fees, property registration, and IGR Karnataka Market Value.
This article will provide a detailed guide on IGR Karnataka, the latest updates, features, and benefits of IGR Karnataka, Services available, steps to calculate market value, registration, and more.
Latest Updates on IGR Karnataka
March 6, 2024: (Source: The Economic Times)
Homebuyers in Karnataka will face a higher stamp duty for the registration of sale agreements where the property is yet to be delivered, with the revenue department increasing the rate to 0.5% of the property value, with a minimum fee of Rs 500, as per an amendment to the Stamp Duty Act.
So, if a person is buying a property worth Rs 1 crore, the person will have to pay Rs 50,000 upfront while signing the sale agreement, a significant increase compared to the previous charge of 0.1% with a cap of Rs 20,000.
Also Read: Property Tax In Bengaluru 2024- Revised BBMP Property Tax Calculation
What is the Department of Stamps and Registrations?
The Department of Stamps and Registration in Karnataka facilitates the registration of various types of documents related to property transactions and other legal matters. Some of the documents that can be registered with the department include deeds for sale, transfer, or gift of immovable properties, mortgages, power of attorneys, wills, and more.
Additionally, documents like marriage certificates and firm registrations are also within the purview of this department. The registration process ensures that these documents become permanent public records, providing legal validity and enforceability to the transactions they represent. The department operates through numerous Sub-Registrar Offices (SROs) across the state to streamline the registration process and ensure transparency in property transactions.
With a revenue collection of Rs 11451.05 Crores in the fiscal year 2019-20, the Department of Stamps & Registration is the third highest revenue-generating department for the State of Karnataka. The total number of documents registered is around 19.57 lakhs.
Features of IGR Karnataka
Property Registration: IGR Karnataka oversees the registration of various property-related documents such as sale deeds, gift deeds, mortgage deeds, lease deeds, etc. This ensures the legal validity and authenticity of property transactions.
Stamp Duty Collection: The department is responsible for the collection of stamp duty on different types of documents as per the Karnataka Stamp Act, 1957. Stamp duty rates may vary depending on the nature and value of the transaction.
e-Registration: IGR Karnataka has implemented an online platform for e-registration of property documents. This initiative aims to streamline the registration process, reduce paperwork, and enhance transparency and efficiency in property transactions.
Encumbrance Certificate: The department issues encumbrance certificates that provide details of transactions registered against a property for a specific period. This certificate is often required during property transactions to ensure that the property is free from any legal disputes or liabilities.
Document Verification: IGR Karnataka conducts verification of property documents to prevent fraudulent transactions and ensure compliance with legal requirements.
Public Grievance Redressal: The department facilitates the resolution of public grievances related to property registration and stamp duty matters through various channels such as helpline numbers, online portals, and grievance redressal mechanisms.
Digitisation of Records: IGR Karnataka is involved in the digitisation of land records and documents to create a centralized database, which facilitates easy access to information and reduces the scope for errors and discrepancies.
Promotion of Transparency: The department strives to promote transparency and accountability in property transactions by providing access to information, maintaining proper records, and enforcing relevant laws and regulations.
Also Read: Guide to Stamp Duty and Registration Charges in Bangalore 2024
Features of Kaveri Online Services:
The Kaveri Online Services Portal is an online platform established by the Karnataka government to facilitate various services related to property registration and land records management. Named after the Kaveri River, the portal aims to streamline processes, enhance transparency, and provide convenient access to citizens for property-related transactions.
Some of the key features and services offered by the Kaveri Online Services Portal include:
Users can use The Kaveri Online Services Portal (Kaveri Services 2.0) to access the various online services related to property registration and other land-related transactions.
Document Registration:
Document registration occurs for immovable property in the jurisdiction of SRO. There are different kinds of documents such as Sale deeds, mortgage deeds, lease deeds, deposit of title deeds, reconveyance deeds, partition deeds, release deeds, gift deeds, exchange deeds, settlement deeds, agreement, GPAs, etc.
Click on this link for the list of documents required for document registration
Encumbrance Certificate (EC):
An encumbrance certificate is a record showing registered transactions over a property. The department issues encumbrance certificates that provide details of transactions registered against a property for a specific period. This certificate is often required during property transactions to ensure that the property is free from any legal disputes or liabilities.
For Obtaining EC users need to submit application form no. 22.
Certified Copy (CC)
Agencies like banks refer to certified copies of registered sale deeds before giving a loan on a mortgaged property to verify the ownership, the Income Tax department may also refer to a certified copy to ascertain the value of the transaction and assess the income of the property buyer or seller.
CC of registered documents relating to immovable properties is obtained to verify the legality of the transaction of property effected through it
Marriage Registration
Kaveri 2.0 offers an online marriage registration service, which simplifies the process and makes it more efficient. To register a marriage, users need to create a citizen login on the Kaveri 2.0 website and select the marriage registration option. They must then upload the required documents, such as Aadhaar cards, three witnesses, a wedding invite as proof of marriage, SSLC, or other age proof certificates3. Once the application is approved by the sub-registrar, the digital signature will be added to the certificate, which can be downloaded from the portal. This service aims to address the low registration of marriages and provide legal protection in cases where disputes over marriage exist3
Firm Registration
Kaveri 2.0 does not provide information on firm registration directly. However, the portal offers various services related to property registration, such as stamp duty and registration fee calculations, property valuation, and document registration. Users can register their firm through this link - https://kaverionlinefirm.karnataka.gov.in/
Also Read: Bhoomi RTC Karnataka 2024: Know About Online Village Land Records & Pahani Reports
What is Stamp Duty?
Stamp duty is a tax imposed by the government on the transfer of property or the execution of legal documents, such as sale deeds, gift deeds, or mortgage agreements. The amount of stamp duty payable varies depending on the value of the property and the type of document involved. In Karnataka, the stamp duty for properties valued less than Rs. 20 lakh in Bangalore is 2%, while the registration charge is 1% of the property's value2. The minimum stamp duty payable for a buyer is set at Rs 500
How to Pay Stamp Duty in Karnataka Online?
To pay stamp duty for registration in IGR Karnataka, you can follow these steps:
Step 1: Visit the IGR Karnataka portal at http://igrs.karnataka.gov.in.
Step 3: Log in to your account or register if needed.
Step 4: Select the relevant service, such as property registration or document e-stamping.
Step 5: Enter transaction details, including property information and transaction value.
Step 6: The portal will calculate the applicable stamp duty and fees.
Check the relevant stamp duty fees applicable here
Step 7: Make an online payment using the various methods provided.
If applicable, obtain an e-stamp certificate as proof of payment.
Verify transaction details and confirm the payment.
Receive an acknowledgment or transaction receipt with a reference number
How to calculate Stamp Duty?
To figure out the stamp duty for your property in Bangalore, follow these steps:
Step 1: Go to the Kaveri Online Services website or click on this link for direct access.
Step 2: Use the Karnataka stamp duty calculator, but make sure you have some details ready. Choose the nature of the document, such as sale of flat.
Step 3: Provide property information like the region type (BBMP, city corporation, municipal corporation, town panchayat, gram panchayat, or others). Select from the drop-down menu. Also, input the indicative market value and indicative consideration amount. The indicative consideration amount is crucial; it is the value determined based on the consideration, ready reckoner, or stamp duty mentioned in the document, whichever is higher. If the consideration value is higher, that will be used to calculate stamp duty.
Step 4: If you do not know the market value, the calculator can help you estimate it. Click on Calculate market value to proceed.
Step 5: Once you have filled in the details, the calculator will display the indicative stamp duty charges, surcharge, cess, total stamp duty, and total registration fees for your property.
How to calculate Property Market value on IGR Karnataka?
To check the IGR Karnataka market value, follow these steps:
Step 1: Visit the Kaveri Online Services portal at https://kaverionline.karnataka.gov.in/.
Step 2: Scroll down and click on Know Your Property Valuation under the Services for Guest User section.
Step 3: Enter the required property details, such as district, area name, taluka, village name, and hobli.
Step 4: Select the property usage type and provide the total area and measurement unit.
Step 5: Click on Display Valuation to view the market value of the property
What is Model Deed Service under IGR Karnataka?
The Model Deed Service under IGR Karnataka is a valuable resource provided through the Kaveri Online Services portal, managed by the Department of Stamps and Registration in Karnataka.
This service offers sample deeds encompassing various legal agreements and documents essential for property transactions, such as sales agreements, gift deeds, licenses, leases, mortgages, trusts, partnerships, powers of attorney, and more.
These sample deeds serve as templates to guide users in understanding the format and content required for different types of legal documents related to property transactions in Karnataka.
Few of the Model Deeds Available in IGR Karnataka
Download Model Deed of Agreement of Sale in Karnataka here
Janaspandana - Integrated Public Grievance Redressal System under IGR Karnataka
The Janaspandana - Integrated Public Grievance Redressal System in Karnataka, also known as the Integrated Public Grievance Redressal System, is a paperless, data-driven IT platform designed to register, process, and resolve public grievances efficiently. This system allows individuals to submit their grievances online without the need to physically visit the office of a senior officer. Each grievance receives an acknowledgment, and individuals can easily track the status of their grievance remotely. The system offers transparency, convenience, and accessibility in addressing public grievances related to various departments, enhancing the efficiency of grievance redressal processes in Karnataka
IGR Karnataka plays a pivotal role in overseeing property transactions and stamp duty collection within the state. The Department of Stamps and Registrations, under which IGR Karnataka operates, ensures the legality and transparency of property transactions through the registration of various documents. With a significant revenue contribution to the state, it underscores the importance of property-related activities in the economy of Karnataka.
Furthermore, the Kaveri Online Services Portal streamlines processes and promotes transparency in property transactions, offering services like document registration, encumbrance certificates, marriage registration, and more. Additionally, initiatives like the Model Deed Service and Janaspandana platform contribute to improving accessibility and efficiency in property-related legal matters and grievance redressal.
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