Explaining Stamp Duty and Registration Charges in Lucknow

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.