nagpur the relaxation in stamp duty that followed covid outbreak has not only gone but the amount payable has also increased recently even as realtors and home loan consultants say the market has not yet recovered from the pandemic effecton june 14 the state government has increased the fee chargeable on intimation of mortgage to 05 of the loan amount as against a nominal charge of rs1000 earlier though an upper limit of rs15000 has been maintained yet even for a loan of rs10 lakh the buyer has to shell out rs5000 as intimation fee this is five times more than the earlier ratemortgage intimation has to be done at the registrar of properties office if a loan has been taken for the purchase this is to disclose that there is bank or financial institutions mortgage on the property the objective is to prevent fraudthis is expected to hit the sentiments especially among buyers of middle level properties say financial consultants providing services for availing loansnow not only the stamp duty is back to the earlier rate but there is an additional burden on the home buyers even if the mortgage intimation fee has been capped at rs15000 the amount is substantial for the fixed income home buyers who already struggle to arrange funds says deepak trivedi a financial consultant who provides home loan servicesthe average cost of a home comes at around rs40 lakh in the city generally buyers borrow up to rs30 lakh to fund the purchase said trivedia home worth rs40 lakh attracts basic stamp duty of rs240 lakh at 6 then there is registration fee which is 1 of the amount or rs30000 whichever is higher both the components take the duty amount to rs270 lakh in case of a rs40 lakh property the rate of mortgage deed that was 02 earlier has been increased to 03 from april this adds another rs9000 taking it to rs279 lakh in allthe latest addition is in the fee payable on intimation of mortgage of property for a loan of rs30 lakh it comes to rs15000 which is the maximum payablesuppose the loan is rs20 lakh it comes to rs10000 which is a substantial amount for a small or mid ticket home buyer explained trivedifrom december 31 2020 the stamp duty is back to the earlier level of 6 from 3 in september last year the duty cut was done to ease purchases during the covid times the plan was to gradually bring it back now not only the duty is back to the original level there is an additional burden as well he saidanil nair former president of nagpur branch of confederation of real estate developers association of india credai said costs have increased even as the market is yet to recovereven the development charges have been hiked to 4 from 2 earlier now the increase in mortgage intimation fee can further dampen the sentiment he said