REDUCTION IN STAMP DUTY

                                   Real Estate Investment in U.P. Cheaper

U.P. Government has given a big respite to the people who are interested to invest in

Real estate. It has been announced that stamp duty on registration of flats, plots and building like properties has been reduced from 8% to 5%.

Simultaneously, it has also been announced that within next six months the process of registration of properties will be made easy and side by side e-registration will also be implemented.

Properties will be registered and stamp duty levied in NOIDA and Greater NOIDA on the basis of price. It has also been decided that at both the places, circle rates will not be made effective for a period of next one year.

Sanction to increase FAR in Ghaziabad including Gautambudh Nagar has been accorded. With the announcement more flats can be made at these places which will reduce the construction cost and cheap flats will be available. In addition to this, percentage on rent agreements and agreements between developers & property buyers has also been reduced. Additional rebate of 2% will continue for ladies as usual in the state. These decisions were stamped during the cabinet committee meeting presided by C.M. Mayawati on Wednesday.