NOIDA: There is some good news for homebuyers in group housing societies — the cost of registering flats in Noida will come down as the
district administration has decided to waive
stamp duty on two-wheeler parking. The 5% stamp duty on car parking stays. This was announced by district magistrate B N Singh after a meeting with stamp and revenue department officials on the circle rate revision on Wednesday, days after he proposed steep rebates in circle rates across categories in the twin cities.
“We had earlier proposed rebates under different segments and sought feedback from stake-holders. In the final meeting, we decided to waive off the stamp duty levied on two-wheeler parking. The other proposed rebates on circle rates remain the same and they have been approved,” Singh told TOI.
Singh had on July 11 announced steep rebates in circle rates across categories to boost investment in Noida and
Greater Noida, where real estate is in a prolonged slump with flat deliveries running years behind schedule and commercial properties witnessing tepid demand.
The administration had proposed to waive 3% charge levied for power backup and lifts each, which were among the three other overheads that are factored in for stamp duty calculation, depending on which of the facilities a builder provides. The other three components are community centre/club, swimming pool and gym.
