Curation Team
NOIDA: The stamp and registration department has received 39 objections and feedback after UP last month proposed to revise circle rates across the city. AIG-2 Brijesh Kumar said the department will hear the objections on April 7. After revision, the circle rate for flats in Greater Noida and Greater Noida West condominiums is proposed to go up by 30%. In Noida, circle rate for flats is to increase by 20%.
“Some suggested that instead of super area, flats should be measured by carpet area. Some homebuyers said builders did not obtain occupation or completion certificates leading to delays in registration. They fear that a hike in prices will increase stamp duty unfairly in such situations.” Kumar said
Circle rates are the minimum values assigned to properties for calculating stamp duty and other fees during registration. The district administration, which released the proposed valuation list for properties under the Uttar Pradesh Stamp (Valuation of Property) Rules on March 26, allowed for public feedback till April 5.
The final rates, officials said, will be determined after considering the feedback and objections.
