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Stamp Duty And Registration Costs For Group Housing Deal in Noida?
January 5 2010 , 03:34 PM   #1
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Stamp Duty And Registration Costs For Group Housing Deal in Noida?

Hello Everyone,

Can anyone please throw some light on how much does it cost for stamp duty and registration of a group housing flat in Noida. I am not sure if Noida authority follows the property laws (of UP Govt) as applicable to Ghaziabad . It would be highly appreciated if anyone could tell the process of it's calculation or share some source where this info could be found.

Thanks,

iAlam
August 19 2010 , 09:43 PM   #2

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So does someone know definitive how much is stamp duty in noida. brokers tell me its 5%. is it really this much or different.
Quote:
Originally Posted by ialam
Hello Everyone,

Can anyone please throw some light on how much does it cost for stamp duty and registration of a group housing flat in Noida. I am not sure if Noida authority follows the property laws (of UP Govt) as applicable to Ghaziabad . It would be highly appreciated if anyone could tell the process of it's calculation or share some source where this info could be found.

Thanks,

iAlam
August 19 2010 , 09:49 PM   #3
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http://www.indiahousing.com/stamp-duty-india.html


Uttar Pradesh.
Stamp duty 8 % + 2% additional duty under U.P. Town Improvement Act, 1919.
Stamp duty on amount of value of consideration or market value whichever is greater.

How do u interpret this......and are these values applicable for Noida also ..??
August 19 2010 , 09:57 PM   #4

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that's the confusion, every broker I have talked to says stamp duty is 5% in Noida. just wanted to confirm with people here.
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Originally Posted by sunnyash
http://www.indiahousing.com/stamp-duty-india.html


Uttar Pradesh.
Stamp duty 8 % + 2% additional duty under U.P. Town Improvement Act, 1919.
Stamp duty on amount of value of consideration or market value whichever is greater.

How do u interpret this......and are these values applicable for Noida also ..??
August 19 2010 , 10:12 PM   #5
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Quote:
Originally Posted by alokgarg
that's the confusion, every broker I have talked to says stamp duty is 5% in Noida. just wanted to confirm with people here.
Stamp duty is 8% in UP. But Governement for last 2-3 years giving discount of 3% and it's 5% only. Last time it was extended till 31st March 2011.
To save stamp duty lot of transaction happens on Power of attorney those who invest on short term.

For Flat's, we need completion certificate issed by Noida authority to get it registered. If builder overshoots FAR or changed approved layout then NA might not give "Completion Certificate".

So, we all have to make sure while taking possession we get completion certificate and do not fall in builder promise. Most of the builder include it in buyer agreement that possession means builder will issue complition certificate. I have checked mine.

I have searched on internet that few projects in Gurgaon/Mumbai builder constructed extra floor and concerned authority not issued Completion even possession given in Year 2000. Now RWA fighting in court and sale purchase happening on POA means no loan from most of bank as title is not clear.

It will be interesting to see if UP governemnt keep open the same 5% scheme or not in year 2013-14 when more than 1 lakh flats will be ready for registration.
thank god al likes this.
August 19 2010 , 10:21 PM   #6
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Quote:
Originally Posted by chandra2034
Stamp duty is 8% in UP. But Governement for last 2-3 years giving discount of 3% and it's 5% only. Last time it was extended till 31st March 2011.
To save stamp duty lot of transaction happens on Power of attorney those who invest on short term.

For Flat's, we need completion certificate issed by Noida authority to get it registered. If builder overshoots FAR or changed approved layout then NA might not give "Completion Certificate".

So, we all have to make sure while taking possession we get completion certificate and do not fall in builder promise. Most of the builder include it in buyer agreement that possession means builder will issue complition certificate. I have checked mine.

I have searched on internet that few projects in Gurgaon/Mumbai builder constructed extra floor and concerned authority not issued Completion even possession given in Year 2000. Now RWA fighting in court and sale purchase happening on POA means no loan from most of bank as title is not clear.

It will be interesting to see if UP governemnt keep open the same 5% scheme or not in year 2013-14 when more than 1 lakh flats will be ready for registration.

There is no discount from UP Govt. bro.............!

Few years back central govt forced all States to reduce the stamp duty to 5% (max) and registration charges at 2% maximum for availing funds under JNNURM.

Hence, you will find same rate in all metro/ urban areas.

Now there is a proposal to have uniform rate of 5% stamp duty in all urban places through out the country.
August 19 2010 , 10:30 PM   #7
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what is the difference between stamp duty and registration charge ...
August 19 2010 , 10:35 PM   #8

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yes please tell. if they are separate things, does it mean we have to pay 7% on price of flat.
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Originally Posted by nibha
what is the difference between stamp duty and registration charge ...
August 19 2010 , 10:40 PM   #9
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Quote:
Originally Posted by alokgarg
yes please tell. if they are separate things, does it mean we have to pay 7% on price of flat.

Stamp duty is the value of stamp papers you purchase (these days also franking in many places) to type/print the sale agreement of property.

Registration charges is the amount you normally deposit in cash in Registrar office for registering the agreement.

Two separate charges since 15-20 years back registration of agreement was not mandatory. Now it is.....
August 19 2010 , 11:00 PM   #10

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this sucks a lot, I was thinking I will have to pay only 5% extra on total price. now it looks like 7%(and 2.5% service tax, if that survives court challenges).

another question, are stamp duty and registration changes on base price or total price of flat.
Quote:
Originally Posted by Basant
Stamp duty is the value of stamp papers you purchase (these days also franking in many places) to type/print the sale agreement of property.

Registration charges is the amount you normally deposit in cash in Registrar office for registering the agreement.

Two separate charges since 15-20 years back registration of agreement was not mandatory. Now it is.....
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