The Uttar Pradesh government has recently announced a new rule regarding stamp duty for power of attorney (PoA). The new rule states that the stamp duty for PoA will be calculated as per the prevailing circle rate, if the person holding the PoA is not a family member. This is to prevent fraud and ensure that the government collects the correct amount of revenue.

The circle rate is the minimum value at which a property can be registered in Uttar Pradesh. It is determined by the district administration, based on factors such as the location, size, and type of property.

The new stamp duty rule for PoA in Uttar Pradesh is effective from June 8, 2023. Here are some of the key points to remember about the new rule:

The stamp duty will be calculated as per the prevailing circle rate, if the person holding the PoA is not a family member.
The stamp duty will be 7% for male homebuyers and 6 percent for females.
There will be a base charge of Rs 5,000 for the registration of PoA, even in cases where the property is being sold to a relative.
For example, if the circle rate for a property is Rs 10 lakhs, the stamp duty for PoA will be Rs 70,000 (for male buyers) or Rs 60,000 (for female buyers).

In addition to the new stamp duty rule, the Uttar Pradesh government has also announced that it will be introducing a new system for registering PoA. The new system will be online, and it will allow people to register PoA from anywhere in the world.

The new stamp duty rule and the new online registration system are both designed to make it easier and more transparent to register PoA in Uttar Pradesh. The government hopes that these changes will help to prevent fraud and ensure that the correct amount of revenue is collected.

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