Ghaziabad Administration Identifies Fraud of Stamp Duty in Land Transactions
The Ghaziabad district administration has come up with malicious use of evading stamp duty in the buy and sale of residential land in urban villages or those with high potential of development in the district by paying lower circle rates set for agricultural land.
On Friday, District Magistrate Ajay Shankar Pandey said that following the uncovering of this tricky method, the district administration has decided to examine all land transactions up to a year old in urban villages.
The officer also cautioned people to make use of such false use of evading the valid stamp duty.
District Magistrate Pandey further said that the finding was done following casual investigation of two registries of lands in Noor Nagar Colony, in which a stamp duty avoidance of over Rs 10 lakh was identified.
Pandey said that the two Noor Nagar plots of land which is located within the Ghaziabad municipal limits were bought by Patel Nagar resident Naresh Kumar Singhal and Daya Nand Nagar resident Payal respectively.
Mentioning that circle rate for agricultural land is not appropriate to plots in areas within 9-km of municipal limits. People more often buy land in areas with high speculations of takeover by the government for executing developmental schemes by paying minimal stamp duty fixed for agricultural land and later take huge benefit from the government on its acquisition.
People buying and selling lands in residential areas on the agricultural circle rates and avoiding stamp duty would be put to task, he said.
District Magistrate Pandey has also directed the district magistrate (finance & revenue) to follow the sale of such lands which are being sold in villages which have developed as colonies within the municipal limits.
He further added that it has also come to his knowledge that sub-registrars are also involved in such practices with buyers and sellers of property, evading stamp duty.
After an inspection of one-year-old registries, step would be begun against the errant sub-registrars and the report will be sent to the government for their suspension.
