Why do Property Buyers in Noida to Pay Hiked Rates of Stamp Duty?

The Property buyers in Noida are all set to pay increased stamp duty. Despite opening of the offices, registry and stamp department has nearly completed 2000 registries. The issuing of around 49 developers’ Projects in Noida have been stopped due to the absence of the eco-sensitive zones of the Okhla Bird Sanctuary.

The centre notified the eco-sensitive zone. Out of the total 49 developers, 26 of the developers having almost 16710 thousand apartments in Noida properties who have occupied the certificate from Noida Authorities. As per the authorities, the decision of increase in stamp duty that was decided by the state government will not be rolled back. The department of stamp and registration is being asked to work all days expect Holi till 31st March. The authorities say that to ease the burden of the home buyers, they have asked the register maximum Properties in Noida that the stamp and registration department can in advance of the government to issue hike in the stamp duty.

Thousands of registries and pending and very soon the stamp duty in the area is going to increase from 5-7 percent. Furthermore, the authorities have mentioned that the department generally develop 125 entries in a day whereas currently the department in registering almost 300 new Noida Properties in a day. The authorities however confessed that the target is pretty big and still there are thousands of registries that are pending for registry.

There are 26 developers with over 16,000 registries for the projects that were hampered due to the Okhla Bird Sanctuary. Apart from these developers, there are numerous other developers along with many individual registries which are also pending for Property in Noida, which crosses a total of 20,000 pending registries. For covering the maximum entries in a day, the authorities have been asked to provide additional infrastructure and manpower. Meeting up these deadlines is the prime motive of the authorities.

The increase in the stamp duty in Noida properties, the buyers are concerned as these will have an effect on their pockets and understanding the concern of the Property Buyers in Noida, the authorities are putting in the best of their efforts to reduce the pressure and burden of the Home Buyers in Noida.