Stamp duty, registration charges in Lucknow

How much will you have to shell out as property registry charges in the city?

Stamp duty is the charge that buyers in India have to pay at the time of property registration. A state levy, stamp duty rates are different from state to state. Along with the stamp duty, buyers also have to pay the registration charges. While some states charge a flat fee, others demand 1% of the transaction value as the registration charge.

Check out property prices in Luknow

 

Stamp duty and registration charge in Lucknow in 2024

Owner Stamp duty as percentage of the property value Registration charge as 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

Source: IGRS UP

* Note: Women are offered a 1% reduction in stamp duty charges in UP. But, this rebate is applicable only up to Rs 10 lakh out of the total value of the transaction.

 

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

Also read: Stamp and registration services on IGRS Uttar Pradesh

 

Stamp duty Lucknow calculation 

Suppose that Mohit Sharma is buying a property of 800 sqft carpet area in a location where the circle rate is Rs 5,000 per sq ft. The circle rate-based value of the property would be 800 x 5,000 = Rs 40 lakh.

If the property is being registered at this amount, Sharma will currently pay 7% of this amount as stamp duty. This will amount to Rs 2.80 lakh.

If the property is being registered at an amount lower than that, Sharma will still have to pay 7% of Rs 40 lakh as stamp duty, since the property cannot be registered below the circle rate. If the property is being registered at Rs 50 lakh, Sharma will have to pay 7% of Rs 50 lakhs as stamp duty, amounting to Rs 3.50 lakh.

Sharma will also have to pay Rs 50,000 as the registration charge.

 

Benefits of investing in Lucknow real estate

Lucknow real estate, with its rich cultural heritage and modern makeover, has garnered great attention in the past half a decade. As the Coronavirus pandemic is likely to encourage more people to move to smaller cities and invest there, Lucknow is expected to be a key beneficiary of this trend.

See also: 5 posh areas in Lucknow

Lucknow has a thriving job market and a metro rail network, as well. Apart from large-scale developments at par with some of the fastest-growing Indian cities, it is only 500 kms from Delhi and with the new highways, one can travel this distance within five hours.

See also: Circle rates in Lucknow

 

FAQs

What is stamp duty?

Stamp duty is the charge that buyers have to pay to the state at the time of property registration. Along with this, buyers separately have to pay a registration charge to complete the legal formality.

What is the registration charge on property purchase in Lucknow?

Buyers have to pay 1% of the property value as the registration charge in Lucknow.

How much stamp duty has to be paid on joint property in Lucknow?

Stamp duty charges in Lucknow vary from 6% to 7%. If the property is being registered in the name of a husband and wife, 6.5% of the deal value will be charged as stamp duty.

 

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