Noida and Greater Noida, Uttar Pradesh’s lively dual towns, went through a huge real estate growth. These cities give investors and homeowners a wide choice of property options, from residential flats to vast company complexes such as Omaxe World Centre. However, before you finish your ideal home, you need to first learn stamp duty and registration revenue. After all, these are essential payments that prove your ownership and protect your investment.
This in-depth guide will explain all you have to understand about stamp duty and registration taxes in Noida and Greater Noida.
What is Stamp Duty?
Stamp duty is a levy charged by the state government on the sale or purchase of real property. It’s a legal charge for showing your property ownership.
Stamp Duty Rates in Noida and Greater Noida
Here is an overview of the tax rates applicable in each location. The homebuyers need to pay a certain amount as the stamp duty to make it registered in the government records. The buyers also have to pay 1% of the value of that property as the charge of registration for completing the paperwork in both Noida and Greater Noida.
Stamp duty, and registration charges in Noida 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 |
Note: Women are offered a 1% discount on stamp duty in the state of Uttar Pradesh. But, this discount is only applicable at around 10 Lakh from the total value of that transaction.
Facts About Stamp Duty
- The stamp duty is the tax that’s levied by the government that happens during property transactions (ie, when a property is bought, basically from seller to buyer). It is directly calculated based on the percentage of the transaction.
- Stamp Duty changes from state to state
- Buyers basically have to pay around 1% or more of the value of the deal. Some states also do a flat rate, based on the value of the property.
Stamp duty, and registration charges in Greater Noida 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 |
Going by these above rates, the registration rates are 1% in both Noida and Greater Noida. However, the government will make these rates as standard in 2020. Now these properties costing more than 10 Lacs, the registration charges will be ₹10,000. The registration will be ₹20,000 for properties from 10 Lakhs to 20 lakhs.
If the property in Noida and Greater Noida is registered at above the circle rate, the registration fee will be 1% of the value of the transaction.
Stamp Duty for Different Instruments
Besides the deeds for property registration, the government will apply stamp duty on other specific instruments. Some of these instruments and deeds are displayed in this table:
Stamp Duty in Noida, Greater for Various Deeds
| Type of Deed | Stamp Duty in Noida/Greater Noida |
|---|---|
| Gift deed | Rs. 60 to Rs. 125 |
| Will Deed | Rs. 200 |
| Agreement Deed | Rs.10 |
| Adoption deed | Rs.100 |
| Divorce Deed | Rs.50 |
| Notary Document | Rs.10 |
| Special Power of Attorney (SPA) | Rs.100 |
| Bond | Rs. 200 |
| Affidavit | Rs. 10 |
| Exchange deed | 3% of the Transaction Value |
| Lease deed | Rs.200 |
| General Power of Attorney (GPA) | Rs.10-100 |
Payment of Stamp Duty and Registration Charges in Noida, Greater Noida
You can follow these steps for paying the stamp duty in both Noida and Greater Noida. Read these carefully.
Step 1
Go to official website of IGRSUP ((Integrated Grievance Redressal System, UP) portal – https://igrsup.gov.in/
Step 2
On this home page, choose the “Avedan Karein” (apply) option along with registering it for the user.
Step 3:
In this section type your property details like the property type, size, area, etc. Do not forget to attach important documents
Step 4:
The portal will calculate the stamp duty of the property in both Greater Noida and Noida.
Step 5:
Pay the particular amount of the stamp duty along with the registration charges and save the acknowledgment slip.
Nearest Office to Pay Stamp Duty in Noida or Greater Noida
To know the office nearest to you to pay your stamp duty along with the registration charges, follow these steps:
Step 1:
Go to the online portal for UP @https://igrsup.gov.in/
Step 2:
Click on the “Know your office” from the menu bar.
Step 3:
This option will open a new webpage, where you can choose your janpad/district or village from the dropdown option.
Step 4:
After that fill in the captcha code and click on the option “Karyalaya Dekhen/ See the Office”
Step 5
You will get your nearest office details.
Direct and Flat Registration and Stamp Duty Calculation on Carpet Area
The Noida Authority announced that they will be calculating Stamp duty based on carpet area and not for super built-up areas.
Super Built-Up vs. Carpet Area:
- Carpet Area: The actual usable area of the within walls of the flat.
- Super Built-up area: Includes common areas like staircases and lobbies.
Stamp Duty Calculation:
- Based on Property size: Stamp duty directly depends on the size of the property.
- Cost Implications: The higher cost will be there for stamp duty if it’s counted on built up area. For flats above 50 Lakhs, the stamp duty can increase as well.
- RERA Mandate: RERA regulates builders to sell properties on carpet area and not on built up or super built up area.
Key Factors Affecting Stamp Duty in Noida
Many factors can change the stamp duty charges:
| Factor | Impact on Stamp Duty |
|---|---|
| Market Value | The higher market value impacts stamp duty. Stamp duty depends on higher value and agreed value. |
| Owner’s Gender | Properties registered based on either man or woman owning that property. |
| Owner’s Age | Senior Citizens get reduced stamp duty from the state government of UP. |
| Location | Properties in prime locations will have higher stamp duty. Panchayat Limits or city outskirts have lower stamp duty. |
| Property Type | Commercial properties can have higher stamp duty because of bigger spaces and better amenities. Residential properties still have less stamp duty. |
| Amenities | Extra facilities like gyms, swimming pools, clubs, community halls along with sports facilities have extra registration fees. |
Not Paying Stamp Duty and Registration Charges in Greater Noida and Noida
Under the 1899 Stamp Act and 1908 Registration Act, payment of stamp duty is mandatory and not paying this duty will make the property invalid and will further charges of 2% every month along with upto 200% of the deficit amount.
Things to Consider Before Paying Stamp Duty in Greater Noida and Noida
Here are some of the important points to consider:
- The stamp paper should be named based on the person making the transaction.
- All the assets of the duty will be directly stamped before registration or for the next working under the execution date.
- If the deed of property is executed after specified territory, it has to be stamped in a span of three months.
- The stamp paper issue date should not be older than six months from the transaction date.
Conclusion:
Paying the stamp duty along with registration charges in Greater Noida and Noida allows you to register the property in the name of the buyer. The stamp duty also legalizes the property.
So if you need any type of help in paying up of residential or commercial property in Greater Noida, Omaxe LTD. will guide you and help you get the right advice for your property and make your property transaction process a breeze.
