Friday 17 September 2021

At next board meet, Noida may slash property transfer charges | Noida News

NOIDA: The board assembly of the Noida Authority is predicted to happen on September 24. The Authority is considering to convey down the property transfer charges on the assembly, TOI has learnt.
Though officers say they’ve been requested to prepare to carry the assembly next week, they’re but to get the ultimate go-ahead from Authority chairman Sanjeev Mittal. The Noida chairman, additionally UP’s infrastructure and industrial improvement commissioner, is heading the particular investigation staff probing the Supertech Emerald Court case and has not but submitted his report back to the federal government.
At the board meet, the Authority may convey down the property transfer charges. Businessmen, RWAs and flat house owners have been petitioning the federal government to focus on the steep transfer charges they need to pay to the Authority whereas promoting their properties.
In June this yr, the Greater Noida Authority introduced down the transfer charges on properties, thereby encouraging secondary market realty transactions within the metropolis. However, Noida is but to rationalise the charges.
Institutional and business plot house owners, at current, need to pay 10% of the prevailing land premium as transfer charges. The Authority is considering to convey it down to five%, based on sources.
Similarly, for transfer of non-functional industrial plots, an allottee has to pay 10% to the Authority whereas for the operational ones, the charges are 8%. The Authority may scale back the charges by 50% for the 2 classes and scale back the identical to five% and 4%, respectively.
For flats and flats, the Authority is charging within the vary of Rs 720 per sqm to Rs 1,980 sqm as per the prevailing land premium of the sector. Transfer charges of the flats need to be determined. Residential plot house owners, store and kiosk house owners are paying 5% as transfer charges to the Authority whereas promoting their items to the brand new consumers. Charges for such allottees might be introduced all the way down to 2.5%.
General secretary of the Noida Federation of AOA, Rajesh Sahay stated, “The state government will continue to generate revenue from stamp duty as the number of transactions will go up.”
Meanwhile, the chief minister can also be anticipated to go to Dadri on September 22 and the district administration in addition to the event authorities are gearing up for his go to.


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