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What is the Stamp duty and Registration charges in Lucknow in 2022?

What is the  Stamp duty and Registration charges in Lucknow in 2022?

 

 

Stamp duty is a legal tax that is collected by the state government during purchasing or selling a property. Stamp duty and registration charges vary from one state to another state or city. Here, we are talking about the Real Estate market In Lucknow. It is the capital of Uttar Pradesh and the eleventh most populous city of India. While registering the property, it is mandatory to pay the stamp duty and registration fee collected by the state government. You should ensure that the property is legally registered while making a deal.  In UP, it is mandatory to register property above Rs 100 in the Sub-Registrar's office under section 17 of the Uttar Pradesh Registration Act 1908.

 

The fee paid is used to register the property in the name of the buyer and legalize the ownership of the property. Generally, around 5-7% of the market value of the property is charged as stamp duty and around 1% of the market value of the property is charged as a registration fee in India.

 

Revised Stamp Duty and Registration Charges for Lucknow

Recently, the Uttar Pradesh government has revised the registration fee levied while registering the property to 1% of the total property cost.  Earlier it was 2% of the consideration value, with a maximum limit of Rs 20,000.

 

The stamp duty collected by the UP government is not much higher as compared to other states.  Each area has fixed circle rates which are imposed by the government.  The property should be registered at a value equal to or higher than the circle rate.  The stamp duty and registration charges collected by the UP government are:-

 

Gender 

Stamp duty rates

Registration charge

Male 

7%

1%

Female 

6%

1%

Male + Female

6.5%

1%

Male + Male

7%

1%

Female + Female

6%

1%

 

Procedure to pay Stamp Duty and Registration Fee in Lucknow:-

 To ensure an ideal registration process, the UP government introduced a digital platform.  The homebuyer has to upload all the required documents and pay the applicable stamp duty.  The Sub-Registrar verifies the documents and issues stamped certificates.

Stamp duty for women in Lucknow

Like many states where women enjoy a correspondingly lower stamp duty on property registration, women in UP get an exemption on this duty, only on purchases of properties under a certain denomination.  In place of 7% stamp duty, which is applicable if men are the owners, women pay 6% stamp duty on registration of properties costing Rs 10 lakh or less.  However, if the value of the property in UP exceeds Rs 10 lakh, both men and women pay the same stamp duty.

 

How to Calculate Stamp Duty

Suppose Prashant is buying space of 800 sq ft carpet area where the circle rate is Rs 5,000 per sq ft.  Thus, the circle rate-based value of the property would be 800 x 5,000 = Rs 40 lakh.

 

 Property value = 40,00,000 RS

 Stamp duty 7% = 40,00,000 * 7% = 2,80,000 RS

 Registration charge = 40,00,000 * 1% = 40,000 RS

 

 Total payable amount:- 3,20,000 RS


For more information, you can visit the government official site ( https://igrsup.gov.in )

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