TYPICAL REAL ESTATE TRANSACTION COST

posted in at 9:39 AM

TCT (Transfer Certificate of Title)

IF PURCHASES ARE FROM INDIVIDUAL SELLER:


CAPITAL GAINS TAX- 6% of actual sale price. This is paid by the seller, but in some exceptional cases it is the buyer who pays. This percentage could differ if the
property assessed is being used by a business or is a title-owned by a corporation, in this case the percentage is 7.5%.

DOCUMENTARY STAMP TAX-1.5% of the actual sale price. This is paid by the seller but in some cases it might be expected that the buyer pays.

TRANSFER TAX-0.5% of the actual sale price.

REGISTRATION FEE- 0.25% of the actual sale price.

IF PURCHASES ARE FROM THE DEVELOPER:


CAPITAL GAINS TAX- 10% of actual sale price. This is value might be expressed as part of the sale price.

DOCUMENTARY STAMP TAX-1.5% of the actual sale price. This is paid by the seller but in some cases it might be expected that the buyer pays.

TRANSFER TAX-0.5% of the actual sale price.

REGISTRATION FEE- 0.25% of the actual sale price.

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Shanika Heussaf

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