Revenue Department charges in UP in 2024 | Openplot

Introduction

Home buyers in Uttar Pradesh (UP) must pay stamp duty and registration fees as determined by the government at the time of property registration in the state. This will help you know the stamp duty and registration fee applicable to the property registry in UP in 2024.

Table of Contents

• Stamp Duty on Other Deeds in UP in 2024
• Stamp Duty, Registration Charge, Property Values
• Stamp Duty on Gift of Property in a Family
• Who Are the Family Members for This Purpose?
• Stamp Duty for Women in Up
• Property Registration Charges

Stamp Duty on Other Deeds in UP in 2024

As of now, stamp duty rates on other DDs for the year 2024 in Uttar Pradesh have not been officially announced. The state government usually revises the stamp duty rates every year in the state budget. The rates of stamp duty on these deeds vary depending on the nature of the transaction, the value of the property, and other factors. The details of stamp duty on deeds in Uttar Pradesh for the year 2024 are as follows:

Stamp Duty, Registration Charge, And Property Values.

The UP government provides a 1% concession in stamp duty charges to women. But this discount is applicable only up to Rs. 10 lakhs in the total transaction value.

Stamp Duty on Gift of Property in a Family

To substantially reduce the cost of property transfers among family members, the Uttar Pradesh government has fixed the stamp duty on gift deeds at Rs 5,000.

“Such a gift deed transfers the immovable property in favor of the donor’s family members, such as the son, daughter, father, mother, husband, wife, daughter-in-law, and real brother (and in the case of the death of a real brother, his wife). True sister, son-in-law, son, daughter, or son, a maximum stamp duty of Rs. 5,000,” said the notification issued by the Principal Secretary of the UP Government, Leena Johri.

The Uttar Pradesh Cabinet has decided to reduce stamp duty and registration charges on the transfer of family property on June 15, 2022. In a meeting presided over by Chief Minister Yogi Adityanath, the UP Cabinet fixed the total stamp duty and registration charge for such property transactions at Rs. 7,000, including stamp duty of Rs. 6,000 and the processing fee of Rs. 1,000.

However, this exemption from stamp duty is valid only for a limited period of six months for certain transfers. 5,000 stamp duty plus an additional processing fee of Rs. 1,000 is also payable.

Who Are the Family Members for This Purpose?

Reduced charges apply only to the transfer of property to one person. Property can be transferred in one’s name only.

• Father
• Mother
• Brother
• Sister
• Spouse
• Son
• Daughter
• Son-in-law
• Daughter-in-law
• Grandchildren from son’s as well as daughter’s side

Till now, property owners in UP had to pay a 7% stamp duty and a 1% registration charge on the transfer of property to their family. That means, for a property worth a crore, the owner has to pay Rs 8 lakh for stamp duty and registration charges, even if the owner transfers the property to family members without moving it.

Due to high stamp duty rates, most employers in UP use power of attorney. This caused a huge loss of revenue for the state government. The highest rate has discouraged many owners from transferring their property between family members during their lifetime.

Stamp Duty for Women in Up

Like many states where women get a uniform reduced stamp duty on property registration, women in UP get a discount on this charge. Only on the purchase of properties within a specific price bracket.

Instead of the 7% stamp duty applicable if a man is an employer, women will be charged 6% stamp duty, which is payable on registration of properties valued at Rs 10 lakh or less. However, the property price in UP is Rs. 10 lakhs, and both men and women have to pay the same stamp duty.

Property Registration Charges

In 2020, the UP government notified new stamp duty rates and registration fees for property and other transactions. The maximum charge on transactions is Rs. The processing of 20,000 units‘ cancellations has been completed. Presently, the registration fee is calculated at 1% of the sale amount. For example, if the property’s sale deed is being registered for Rs. 50 lakh, the buyer will need to pay a registration fee of Rs. 50,000.

Conclusion

When buying or selling property in UP, it is important to understand the stamp duty and registration fees. Visit our Openplot for career advice. Check the latest prices. Diligently complete the necessary paperwork to ensure a smooth property transaction.

Also read: Delhi MCD Extends Property Tax Geo-Tagging Deadline