Connect with us

News

Property transfer charges reduced to half in Noida

Noida

The Noida Authority on September 24 halved the transfer charges of residential properties from 5 per cent to 2.5 per cent. Similarly, the transfer charges of institutional properties have been reduced from 10 pc to 5 pc.

While people buying commercial properties will have to pay 5 per cent, those buying kiosks and shops will shell out 2.5 per cent.

According to media reports, the Infrastructure and Industrial Development Department of the Government had asked the three industrial development authorities in Noida and Greater Noida to standardise their policies.

The Greater Noida Industrial Development Authority (GNIDA) had brought down the rates in June.

Sanjeev-MittalPresiding over a Board meeting, Noida Authority Chairman Sanjeev Mittal said, “The revision of transfer charges is an extremely important development for residents. Several residents’ groups and associations had raised demand and asked the authority to bring down the transfer charges.”

Rakesh Kumar Srivastava, DIG, Stamps and Registration Department, said, “The decision of the Authority has been taken at an opportune time. It will improve the sentiments in the property market just before the festival season.”

Advertisement

Residents’ groups also welcomed the decision of the Authority. .

The Board also decided that all allottees will get an extension of additional six months to secure a completion certificate as per their lease deed condition without paying any extra charges.

Latest News

News1 day ago

The real estate sector reacted cautiously to the Union Budget 2023. Here are the excerpts from a cross section of industry stalwarts

Harsh Vardhan Patodia, President, CREDAI National “Through the Union budget 23 – 24, the Government continues to focus on the empowerment...

News1 day ago

Affordable housing gets push in Budget 

New Delhi, Feb 1, 2023:  Union finance minister Nirmala Sitharaman on Wednesday announced an outlay of ₹79,000 crore, an increase of...

Events2 days ago

Art competition at Spectrum Metro 

Noida: Spectrum Metro, in collaboration with Motherhood Women’s and Children’s Hospital, organised a drawing and painting competition on January 26,...

News2 days ago

Housing prices start moving up post Covid, buoyant real estate along with construction activities create jobs, says Economic Survey

New Delhi: The Economic Survey tabled in the Parliament on Tuesday, said that housing prices have started firming up after...

News2 days ago

Andhra Pradesh Kicks-Off Global Investors’ Summit 2023 with Diplomatic Meet: Over 40 Nations Participate, Among Business Delegations & Captains of the Industry

New Delhi, January 31, 2023: The Curtain Raiser to the Andhra Pradesh Global Investors’ Summit 2023, started on Tuesday with...

News2 days ago

Pacific D21 Mall, Dwarka, hosts Tekken India’s Delhi Iron Fist Tournament 2023

New Delhi: Pacific D21 Mall, Dwarka, hosted gaming tournament, Tekken India’s Delhi IronFist 2, on January 28-29, 2023. The event...

Trending