The stamp duty in Noida and Greater Noida will be expanded to 7% from the current 5% by the end of April, sources in UP stamp and registration department told the press on Sunday. While a notice for the same has already been issued by UP industries department, the stamp and registration department too will issue a notice within a week.
There are more than 30,000 registries pending essentially because of deferral with respect to developers , who are yet to pay installments to Noida Authority. As per sources, without the paid installment, the Authority does not issue a complete confirmation to developers , without which, the stamp and registration department does not enlist properties.
Sources said that the notice has been purposefully postponed to enlist maximum deeds. Engineers, on the other hand, however, said the hike will contrarily affect land in GB Nagar.
It was the first written about the state government’s endorsement of climb proposition in the press- that the state government had affirmed hiking of stamp obligation by 2% in all urban communities.
The hike will put an additional Rs 1-2 lakh burden on every purchaser, while the revenue department hopes to acquire an extra Rs 100 crore.
With a large number of pads routinely conveyed late in GB Nagar, particularly those influenced by the Okhla Bird Sanctuary column, it will be a one-two punch for some purchasers.