610 buyers register flats in a month under new scheme

NOIDA: The stamps and registration department on Thursday said that 610 flats have been registered under the ‘agreement-to-lease’ facility, started last month. The department had filed FIRs against 30 developers for giving 7,798 flats to buyers without registration. It is reviewing these complaints and planning stringent action like invoking the Gangster Act against developers who have failed to furnish registration details till now.
Normally a flat’s registration is done after the developer receives the project’s completion certificate from respective development authorities. However, in many cases, completion certificates are withheld owing to various dues to be given to Noida Authority. As per the ‘agreement-to-lease,’ the homebuyers are required to pay 5% stamp duty for registration of properties to the stamps and registration department and sign a bond for the time being. Once the project developer receives completion certificate, the homebuyers can furnish the registration process on a Rs 50 stamp paper. The revised circle rate will not be applicable at the time of final registration.

S K Singh, assistant commissioner, stamps and assistant inspector general, registration, Gautam Budh Nagar, said the department had conducted a survey and found that some developers had given possession of flats to homebuyers in different projects without registration. “We had filed police complaints under Section 64 (G) of Stamp Act, 1899. Following the crackdown, some developers started registering flats under ‘agreement-to-lease.’ However, a few developers have ignored the notices. The department will invoke Gangster Act against them,” he said.

These flats’ are located in Greater Noida’s Sector Zeta – 1, Pie – 2, Greater Noida West, Site -4, and Noida sectors 143, 107, 44, 143, 119, 120, 108, 75, 78, among others.