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Thousands Of Home Buyers In Noida To Pay Hiked Stamp Duty

There are thousands of registries pending and soon stamp duty in the district is going to be hiked from 5% to 7%.

Thousands of people all set to face hiked stamp duty rates as despite opening offices on weekend, the stamp and registry department has done nearly 2000 registries. Issuing occupancy certificate of 49 developers’ projects in Noida was stopped in the absence of eco-sensitive zone of Okhla bird sanctuary.

Eco-sensitive zone was notified by the Centre on August 19, 2015. Out of 49 developers so far, 26 developers (having 16710 thousand flats) have sought occupancy certificate from the Noida Authority. After district magistrate intervention, the stamp and registry department is opening its office on weekends also.

“There are thousands of registries pending and soon stamp duty in the district is going to be hiked from 5 to 7 per cent. To meet the deadline, we have directed stamp and registration department to work all days till March 31, excepting Holi (on March 24),” DM added.