Calculate how increase in stamp duty in Noida/Greater noida may hurt your finances
The news of increase in stamp duty from 5% to 7% have sent jitters down the spine of home buyers in Noida/Greater noida region. There have been a number of queries to us related to the additional financial burden it will imply to the buyers while getting their registries done. To help clarify the same, we bring below the stamp duty calculator that shall be applicable provided this stamp duty hike to 7% actually come into force.
The loss is huge and one must push the builder to either pay for this hike or hope the notification itself is held back.
Please Note:
- There are talks of discounts on basis of gender of allotees as is the case in other neighboring districts. Ghaziabad for instance has 7% stamp duty for male only allotees, 6.5% for male and female allotees and 6% for female only allottees. The same however has not been notified yet.
- For allotment on name of female alone, a discount of at least 10k is offered over above amount.
- Other than the above stamp duty charges, a buyer also bears:a) ~22k as registration charge b) ~15k to 25k as lawyer/processing charges
Also check how much it would have costed at prevalent 5% stamp duty:
Comments/Feedback invited.
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Last Updated on April 2, 2016 by Go4Reviews
Any update of registry fee hike?
you mean stamp duty hike? It is already notified from state authorities on 8th. To be further notified by stamps dept before it comes to force. stamp dept is doing some backend changes that could take time.
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