Stamp Duty and Registration: In India, stamp duty is a fee that buyers must pay while registering a property. Stamp duty, a state tax, varies in price from one state to the next. In addition to stamp duty, buyers must additionally cover registration fees. Some states have a fixed registration cost, while others charge 1% of the transaction amount.
Stamp duty and registration charge in Lucknow in 2024
| Owner | Stamp duty as a percentage of the property value | Registration charge as a percentage of the property value | Stamp duty and registration charge in Rupees on a property worth Rs 10 lakh |
| Man | 7% | 1% | Rs 70,000 + Rs 10,000 |
| Woman | 6%* | 1% | Rs 50,000* + Rs 10,000 |
| Man + woman | 6.5% | 1% | Rs 65,000 + Rs 10,000 |
| Man + Man | 7% | 1% | Rs 70,000 + Rs 10,000 |
| Woman + woman | 6% | 1% | Rs 50,000* + Rs 10,000 |
Stamp duty on other deeds in Lucknow
| Documents to be registered | Stamp duty in Rs |
| Gift deed | 5% of the property value
Rs 5,000 in case of gifting in family members |
| Will | Rs 200 |
| Exchange deed | 3% |
| Lease deed | Rs 200 |
| Agreement | Rs 10 |
| Adoption deed | Rs 100 |
| Divorce | Rs 50 |
| Bond | Rs 200 |
| Affidavit | Rs 10 |
| Notary | Rs 10 |
| Special power of attorney | Rs 100 |
| General power of attorney | Rs 10 to Rs 100 |
Stamp Duty and Property Registration Charges in Uttar Pradesh in 2024
Stamp duty computation in Lucknow
Assume Mohit Sharma is purchasing an 800-square-foot house in a neighborhood where the circle rate is Rs 5,000 per square foot. The property’s circle rate-based valuation is 800 x 5,000 = Rs 40 lakh.
Sharma will currently pay 7% of this amount as stamp duty if the property is registered at this amount. The total will be Rs 2.80 lakh.
If the property is valued at more than 50 lakh, Sharma must pay Rs 3.50 lakh in stamp duty.
Sharma will also be required to pay a registration fee of Rs 50,000.
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Advantages of purchasing real estate in Lucknow
Due to its sophisticated renovations and rich cultural heritage, Lucknow real estate has drew a lot of attention in the last five years. Because of the Coronavirus outbreak, Lucknow should benefit, as more people will move to smaller cities and invest.
Lucknow boasts a metro rail system and a flourishing job economy. With the new highways, it is only 500 kilometers from Delhi, and five hours drive from there thanks to extensive improvements.
