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How to Calculate Home Loan EMI & Stamp Duty Charges?

Stamp duty is considered an additional expense that is needed by home buyers to pay to become the owner of properties legally. As the rate of stamp duty increases in Indian states, sellers and buyers try to avoid paying the stamp duty. 

Home loan EMI calculators are used to calculate the home loan EMI and a stamp duty calculator is a tool that helps you to calculate the stamp duty on the home loan. Read the complete article to learn about the stamp duty charges and EMI of home loans, which are calculated by the home loan EMI calculator and stamp duty charger. 

Home Loan EMI Calculator

A home loan EMI calculator is essentially an online tool that can assist a loan lender in calculating the EMI amount due on a home loan. The home loan EMI calculator has three basic components: 

  • The principal amount
  • The loan’s term
  • The interest rates

The calculator assists the borrower in understanding the EMI payable over a specified tenure at an interest rate determined by the loan amount and tenure. To calculate an affordable EMI, the borrower can enter an infinite number of possibilities and combinations of tenures or interest rates. 

How to Calculate Home Loan EMI?

Depending on the type of calculator available on the lender’s website, you can either input the figures or use the slider provided in the calculator to adjust the values for the principal loan amount (P), tenure (N), and interest rate (R). The slider, which can be moved with the mouse from left to right, can be used to select the loan amount, tenure, and interest rates. You can continue to change and adjust the figures as the calculator computes instant and accurate EMI amounts in seconds.

Stamp duty calculator

A stamp duty calculator is an online tool that helps you to determine how much stamp duty you need to pay on residence in a state or city. By giving the property facts, such as the state and property values at which the home is situated, you can compute the home loan EMI online. 

How does the stamp charges are calculated?

The rates of stamp duty are set by the state government, which differs across the country. The stamp duty charges lie from 3 to 10{bce35be8f024086713400a3aaddfcbd45f150485b033ef2d58980d9932f1ba05} of the value of the property. 

  • The property location, owner age, use of property, gender, property type, and amenities are the factors that put affect stamp duty rates. 
  • Along with the stamp duty charges, you also need to pay the registration fees, which are gathered by the federal government. 
  • The registration fee is 1{bce35be8f024086713400a3aaddfcbd45f150485b033ef2d58980d9932f1ba05} of the total market value of the property. So, for instance, if the person decides to buy the property for 60 lakhs in Delhi, and the stamp duty rate is near about 6{bce35be8f024086713400a3aaddfcbd45f150485b033ef2d58980d9932f1ba05}, then they must pay 3.6 lakhs as stamp charges and 60k as registration fees. 


To sum it up, the home loan EMI calculator and stamp duty calculator are both online tools used to calculate the home loan EMI and stamp duty charges. 

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