Homebuyers Alert: Stamp Duty Now Required At Flat Booking In Greater Noida; Check Details

Homebuyers successful Greater Noida will now request to salary stamp work astatine nan clip of booking flats, a move aimed astatine streamlining nan existent property transaction process. Homebuyers successful Greater Noida will beryllium required to salary stamp work for a spot erstwhile booking a level successful caller lodging projects, arsenic nan Greater Noida Authority has mandated builders to registry flats astatine nan clip of booking alternatively than astatine task completion. 

The caller norm stipulates that successful accordance pinch Section 13 of nan Real Estate (Regulation and Development) Act (RERA), 2016, builders must participate into a registered bipartite 'agreement to sell' pinch buyers erstwhile 10% of nan flat's costs is paid, on pinch nan required stamp work based connected nan property's value.

Additionally, a abstracted 'possession deed' must beryllium signed connected a Rs 100 stamp insubstantial during nan flat's handover. Generally, stamp work connected a spot amounts to astir 6% to 7% of nan full level cost. In nan past, homebuyers paid stamp work upon receiving nan spot from builders, but now they are obligated to salary astatine nan clip of booking.

Numerous group lodging projects successful Greater Noida person been stalled owed to outstanding dues, immoderate for complete a decade. As a result, homebuyers person faced challenges successful obtaining possession of their properties contempt making partial aliases afloat payments.

This argumentation displacement is intended to guarantee compliance pinch regulations and trim delays successful spot transactions. By requiring stamp work astatine booking, authorities expect to heighten transparency and ratio successful nan existent property market, impacting some developers and buyers. This important accommodation successful argumentation could change nan dynamics of Greater Noida's existent property sector, influencing purchaser behaviour and financial planning. 

In November 2024, nan Noida Authority introduced a norm requiring registration of waste agreements astatine nan clip of purchasing a flat. The YEIDA besides has a akin norm successful effect. On September 9, 2024, nan Uttar Pradesh authorities instructed authorities to enforce RERA guidelines that prohibit developers from accepting much than 10% of nan portion costs without a registered waste agreement.

Stamp duty

When buying a location successful Noida, 1 of nan biggest add-on costs you'll look is stamp duty—a mandatory taxation you must salary to legally registry your property. This interest legally validates your ownership and helps money various state-level administrative functions.

Under Section III of nan Indian Stamp Act, 1899, stamp work is applicable connected each existent property transactions. The nonstop magnitude varies crossed Indian states, and failing to salary it tin pull penalties.

Stamp work rates successful Noida (Uttar Pradesh) – 2023

In Noida, stamp work and registration charges are wished based connected nan gender of nan purchaser and type of ownership:

Ownership Type    Stamp Duty    Registration Fee
Male owner    7%    1%
Female owner    6%    1%
Joint (Male + Female)    6.5%    1%
Joint (Male + Male)    7%    1%
Joint (Female + Female)    6%    1%

Note for women buyers: The Uttar Pradesh authorities offers a 1% rebate connected stamp work charges for female owners, but only for spot values up to ₹10 lakh.

Stamp work calculation

Let’s break down nan full costs for some antheral and female buyers purchasing a location worthy Rs 75 lakh successful Noida:

For a antheral buyer:
Stamp Duty (7%) = Rs 5,25,000

Registration Fee (1%) = Rs 75,000

Total Payable = Rs 75,00,000 + Rs 5,25,000 + Rs 75,000 = Rs 81,00,000

For a female buyer:
Stamp Duty (7%) = Rs 5,25,000

Less Rebate = Rs 10,000

Net Stamp Duty = Rs 5,15,000

Registration Fee (1%) = Rs 75,000

Total Payable = Rs 75,00,000 + Rs 5,15,000 + Rs 75,000 = Rs 80,90,000