Over the past nine days of Navratri, the stamp and registration department registered 303 flats and collected Rs 103 crore stamp duty. The number of registrations is nearly three times of what is done on usual days.
Assistant inspector general registration (I) BS Verma said, “Usually, we register 10-20 flats daily. However, we registered three times more than that during Navratri as people see it as an auspicious time for significant purchases. On some days, we registered 75-85 flats in a day.”
Apart from flats, 1,804 other properties were registered between Oct 3 and 11, totaling 2,107 property registrations.The stamps and registration department collected Rs 3,585 crore in 2023-24, up from Rs 3,018 crore in 2022-23. The department aims to collect Rs 4,880 crore for the current financial year.
Meanwhile, the Noida Authority plans to refer developers of six residential projects to the economic offences wing (EOW) because they owe Rs 1,035 crore in land dues. These developers did not opt for the UP govt’s rehabilitation package for stalled projects.
Of 57 projects that defaulted on land dues, 29 accepted this package, which offers a two-year zero-period relief from April 2020 to March 2022, exempting developers from penalties and interest during the lockdown.
Besides this, 17 developers made partial payments, while five gave consent but did not make payments. Six others did not give their consent. Under the rehabilitation and resettlement scheme, nearly 1,500 flats have been registered in Noida so far.
In Dec last year, UP govt came out with a rehabilitation package to expedite flat registries in the state. The guidelines adopted several recommendations of the Amitabh Kant committee that drew up a roadmap for the revival of 2.4 lakh stalled or stressed housing units.
The zero period waiver was on interest accrued during two years of the Covid pandemic.According to the rules, builders opting for the package were supposed to pay 25% of their recalculated dues within 60 days. Those who cleared the first tranche of dues were likely to be considered for another waiver on interest calculated during an NGT restriction on construction around Okhla Bird Sanctuary.
