Big jolt for Greater Noida Homebuyers, now shell out more money for registration of flats

Around 42,000 homebuyers in Noida and Greater Noida haven’t yet got their flats registered. Now in order to get the registrations, the buyers have to pay an additional amount, i.e., Rs 1 lakh, as per the new UP government order.

The UP government's new order states that 1 percent of the total price of the flat will have to be given at the time of registration. Besides that, there is a deadline to register the flat by the month of July and if that doesn’t happen then the circle rate of the land will surge again in July or August. After this, the registry will become even more expensive.

Many experts believe that one of the primary reasons behind this is that the builders who have sold these flats have not yet deposited the dues with the authorities.

Taking a stern step on non-deposit of the outstanding money, the authority banned the registration of flats related to the builders' project. The flat buyers wanted to get the registration done on time, but due to this big reason, they could not get it registered yet.

Earlier, the registry of flats would be Rs 20,000 in Noida and Greater Noida. The 2BHK and 3BHK flats cost around Rs 40 lakh and 60 lakh. This will further add a burden of Rs 30,000 to 40,000 in the pockets of homebuyers. Meanwhile, if someone’s flat costs Rs 1 crore, then they will have to spend up to Rs 1 lakh.

Also, if the registry of flats is not done within a few days, then the circle rate of the land will also increase. All the three authorities have increased the cost of allotment of their lands