Buying a home comes with certain financial obligations, such as paying stamp duty and registration charges. These expenses are necessary to get the property registered in the government's records and complete the required paperwork. In Noida and Greater Noida, home buyers are required to pay a percentage of the property's value as stamp duty and 1% of the property value as registration charges.
Stamp Duty and Registration Charges in Noida (2023)
Let's take a look at the stamp duty and registration charges in Noida:
| Owner | Stamp Duty (%) | Registration Charge (%) | 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 |
*Note: Women are offered a 1% reduction in stamp duty charges in UP. However, this rebate is applicable only up to Rs 10 lakh of the total transaction value.
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Stamp Duty and Registration Charges in Greater Noida (2023)
Similar to Noida, the UP government levies stamp duty and registration charges on properties in Greater Noida as well. Here are the rates:
| Owner | Stamp Duty (%) | Registration Charge (%) | 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 |
*Note: Women are offered a 1% reduction in stamp duty charges in UP. However, this rebate is applicable only up to Rs 10 lakh of the total transaction value.
Stamp Duty for Women in Noida and Greater Noida (2023)
In UP, women are eligible for a discount on stamp duty only when purchasing properties within a certain price bracket. If a male is the owner, a 7% stamp duty is applicable. However, women pay only 6% stamp duty on properties worth Rs 10 lakh or less. For properties costing more than Rs 10 lakh, both men and women pay the same stamp duty.
Stamp Duty Payment Process in Noida and Greater Noida
To make the stamp duty payment in Noida and Greater Noida, follow these steps:
- Prepare the sale deed and visit the igrsup.gov.in website of the Stamps and Registration Department of the Uttar Pradesh government.
- Click on the tab 'आवेदन करे.' (apply) and register as a user on the website. Enter the personal details of the buyer, seller, and witnesses.
- Fill in the property details in the form.
- The website will calculate your stamp duty payment liability in Noida and Greater Noida based on the provided information. Save this information.
- Visit the counter of the CRA in the Registration office or CRA branch office or authorized collection centers (ACC) and fill up the Uttar Pradesh e-Stamp Certificate application form. Make the stamp duty payment using cash, cheque, demand draft, pay order, RTGS, NEFT, or account transfer.
- Once the stamp duty is paid, the Uttar Pradesh e-Stamp Certificate will be generated.
- Visit the sub-registrar's office with the Uttar Pradesh e-Stamping Certificate along with the deed for further registration process.
News Update: Flat Registration and Stamp Duty Calculation based on Carpet Area in Noida
Home buyers in Noida have welcomed the recent directive by the Noida Authority stating that flat registration will now be based on the carpet area instead of the super built-up area. This move is seen as a relief for home buyers as builders often use the super built-up area to price houses and calculate stamp duty, which increases the cost of the purchase for buyers.
Stamp duty is calculated based on the size of the property, and the super built-up area is always higher than the carpet area. If the stamp duty is calculated based on the super built-up area, the cost can be significantly higher, especially for flats priced up to Rs 50 lakh.
The Real Estate Regulation and Development Act (RERA) mandates that developers sell flats based on the carpet area and not the super built-up area. This circular by the Noida Authority will benefit customers and put an end to confusions regarding stamp duty calculations.
Carpet Area vs. Super Built-Up Area
The carpet area of a flat is the actual area where one can lay a carpet, while the super built-up area includes common areas that are not exclusively allocated to the buyer. According to the UP RERA, the carpet area is the net usable floor area in a flat and does not include areas covered by external walls, service shafts, balconies, verandahs, and open terraces.
Selling units based on carpet area ensures transparency and adherence to the law. Developers often quote the super built-up area because it includes common areas and becomes a yardstick for pricing.
To know more about the differences between carpet area, built-up area, and super built-up area, refer to our guide on "What is Carpet Area, Built-Up Area, and Super Built-Up Area?"
FAQs
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In conclusion, understanding the stamp duty and registration charges in Noida and Greater Noida is essential for home buyers. By following the proper process and being aware of the regulations, you can make a well-informed decision and complete the necessary paperwork smoothly.
