How much money is required to buy a house in Lucknow?
Not yet verified by a LucknowSquare editor. This guide is based on the sources listed below. Check them, and the latest official notification, before you act on anything here.
Short answer
The price of the house plus the costs of buying it: stamp duty and registration fee of about 8% of the value, GST of 5% if the home is under construction, and brokerage, legal and other costs. A bank lends only part of the price, so your own money must cover the down payment and all of these costs. LucknowSquare editors have not yet verified these rates against the official notification: confirm them before you rely on them.
Explanation
The parts of the bill
- The price in the sale agreement.
- Stamp duty: 7% of the value (the higher of the price and the circle-rate value), less any rebate for a woman buyer.
- Registration fee: 1% of the same value.
- GST on an under-construction home: 5% (1% for affordable housing). None on a completed home or on land.
- Brokerage if you use a broker: negotiable.
- Legal and document charges: the advocate's fee and stamp-paper or e-stamping charges.
- Loan costs if you borrow: processing fee, insurance, valuation fee.
- Moving in: interiors, society deposits and connection charges.
How much of it is your own money
A lender finances part of the price, and the share depends on the lender and the loan size. The rest, the down payment, comes from you, and so do stamp duty, registration, GST, brokerage and the other costs, because a bank does not lend against them. Cash needed = total cost − loan.
Check what you can afford before you look: the home loan eligibility calculator shows the loan your income can support, and the buying cost calculator adds up everything on this page.
Examples
On a ₹60 lakh flat: On an agreement value of ₹60 Lakh and a circle-rate value of ₹55 Lakh, duty is charged on ₹60 Lakh. A male buyer pays stamp duty of ₹4,20,000 and a registration fee of ₹60,000: ₹4,80,000 in all. Add brokerage of 1% (₹60,000) and ₹20,000 for legal costs. If the bank lends 80% of the price (₹48 lakh), you need the 20% down payment (₹12 lakh) plus about ₹5.6 lakh for duty, brokerage and legal costs, together about ₹17.6 lakh of your own money. Change any figure in the calculator.
Important considerations
- Budget for the costs on top of the price: they add up to several lakhs on a ₹50 lakh home.
- Stamp duty depends on the circle-rate value if it is higher than your price.
- GST applies to under-construction homes, not to completed ones.
- A lender's finance covers part of the price only.
- Keep a reserve for moving in and for the first months' EMIs.
Houses for sale in Lucknow: latest from LucknowSquare listings
LucknowSquare does not yet have enough real listings to publish these figures. An average appears only when there are at least 3 real listings of the same type in the same place, so one seller's price is never presented as the market.
Based on LucknowSquare listing asking prices. This is not an official government valuation or circle-rate index. Price index · Methodology
Data and sources
Rates come from the calculator settings LucknowSquare editors maintain. LucknowSquare editors have not yet verified these rates against the official notification: confirm them before you rely on them. Asking prices in the table, where shown, are from real LucknowSquare listings.
General information, not legal, tax or financial advice. See the editorial policy for how we write, source and correct pages.
More questions
How much is the down payment?
It is the part of the price the lender does not finance: the share varies by lender and loan. Enter your own percentage in the buying cost calculator to see the cash you need.