Hi friends!!! Good news for Noida residents as state govt. has decided to four-month relief on stamp duty hike to homebuyers in Noida. Homebuyers whose papers are cleared by the NOIDA Authority before April 1 will get a four-month extension to get their properties registered. The four-month grace period will be given only to homebuyers who execute a registry deed with the Authority by April 1st.
@Giri and Celina, This decision will leave a negative impact on the real estate, which is already stumbling under downturn. From now onward registration charges from the current 5% to 7% to bring the Noida and Greater Noida rate on a par with the rest of the state.
But there has been a rebate in stamp duty with the aim of encouraging industrialization. In other UP districts, the stamp duty is 7% and only Rs 10000 rebate is given if the property is transferred to a woman owner.
Hi everybody!!! The Uttar Pradesh cabinet has approved proposal of hiking 2% extra in the cities including Noida and Greater Noida, governed by UP Industrial Development Act 1976. This will put extra Rs.1-2 lakh burden on each buyer while the revenue department is hoping Rs.100 crore additional revenue generation from the decision.
Hi Giri!!! Very wrong decision by The UP cabinet. It will be a double blow for many of them as thousands of flats are anyway being delivered late, especially those, whose flats were delayed due to Okhla Bird Sanctuary (OBS) row. And because of delay in the registry by the Noida Authority, which will put more financial burden on the home buyers.
Is Bank may re loan after some year on the same plot on which he Finance. For example if I am buy a plot on loan for Five Year and pay installment for 2 year and my loan is continue. Bank may finance for making house on the same plot.. please reply
Hi sagar, Yes bank will provide loan for making house, there is no issue, you can consult with the bank person they will guide you in terms of interest rate and other document related matter.