Stamp duty and registration charges are calculated on the higher of the agreement value or the government-notified ready reckoner rate for that area — not simply on what you agreed to pay the seller.
How it is calculated
Stamp duty in Maharashtra is charged as a percentage of this value, with registration charges added on top as either a flat fee or a small additional percentage depending on the property value. Rates can also vary slightly by gender of the buyer and by municipal corporation, so the exact figure for a flat in Nerul should be confirmed against the current notification rather than assumed from a general rule of thumb.
Ready reckoner rates matter more than buyers expect
Because duty is charged on the higher of agreement value or ready reckoner rate, a flat purchased below the notified rate does not reduce your stamp duty liability — a detail that surprises many first-time buyers when they see the final registration bill.
Budgeting properly
We recommend buyers set aside roughly 7-8% of the property value for stamp duty, registration, and incidental legal charges combined, on top of any down payment. Being surprised by this figure at the last stage of a purchase is one of the most common — and most avoidable — sources of stress we see in transactions, which is why we walk every buyer through the exact expected figure before they make an offer, not after.