Rush for flat registry on in Noida
DELHI NCR, NOIDA: At a time when proposed date on the increase in stamp duty from 5% to 7% is speculated what with Uttar Pradesh government’s cabinet clearance of 2% hike in stamp duty on March 8 for Gautam Budh Nagar, homebuyers continue to throng registry office in sector 33 in Noida and Gamma ll in Greater Noida.
“Though the notification on the stamp duty hike has not yet come, last three days has seen no decline in rush from homebuyers. There were 300 registries done on Thursday, then the number dipped a little to 250 on Friday only to increase on Saturday to approximately 350,” said Manoj Kumar, ground staff of Eldeco builders at sector 33 registry office.
According to junior staff at the sector 33 office, Paramount builders had about 80 registries lined up while Prateek Wisteria had about 50-60 registries lined up for Saturday. “We did 12 registries on Saturday and 11 on Friday,” said Kumar from Eldeco.
In Greater Noida though the numbers have dipped from earlier 200-300. “Today the number has dipped to earlier 70-80 registries at the registry office,” said Harinder Bhati, RWA general secretary Beta l, Greater Noida.
The rush is ascribed to the impending increase in stamp duty hike. “We come from middle class strata and 1-2 lakhs matter a lot to us. If the stamp duty hike increases, then this amounts to unnecessary and extra burden on us, which is difficult to bear,” said a homebuyer from Prateek Wisteria willing to wait it out for long hours at the registry office.
Meanwhile some homebuyers are feeling relieved as they’ve got extra time to get their possession papers in order and check typographical errors on part of the builder “My unit in sector 120 has three bedrooms and three toilets, but the papers prepared by the builder shows an error of additional toilet making the number of toilets to four. I thought I would miss the deadline as getting the papers corrected led to further delay. But now I can manage before the stamp duty notification comes through,” said a resident of sector 121.
Another homebuyer pleaded wrong map/drawing of his unit with different locations of the bedrooms and entry access to his unit. “It took me two days to get the map of my unit corrected as the builder had not bothered to check his inventory,” said the resident. Many complained paying stamp duty fees in advance, but were charged extra due to sudden, unauthorised increase in floor area by the builder.
On a weighted average of 200 registries per day during the month of March (excluding one day staff holiday on account of Holi) the total registries done so far is reported to be around 5000 plus. As a result the state exchequer is estimated to earn a revenue in excess of 300 crores through stamp duty and registration charges.