Taxes and Stamp Duty Rates

Taxes applicable on sale of property in the State of Uttar Pradesh:

Buyers are liable to pay and deduct Tax Deduction at Source (TDS) @ 1% out of the total sum payable to the developer.

Buyers are liable to bear Service Tax @ 15% on the 30% value of the contracted value.

VAT on the higher of the contracted value or the Circle Rate is payable by the Builder without charging from the buyers.

Labour Cess @ 1% of the project value is borne by the developer.

Stamp Duty applicable on registration of property in the State of Uttar Pradesh:

Stamp Duty (for transfer of property) is payable @ 7% on the higher or the Contracted Value or the Circle Rate for the concerned property is payable. Female transferees are entitled to 1% concession on value only up to Rs. 10 lacs out of the total value of the transaction.