Register property at allotment rates before March 31

Register property at allotment rates

If you have a property in Noida, Greater Noida or along the Yamuna Expressway, which was allotted six months ago or earlier, you can still get it registered at the present allotment rates till March 31. From April 1, such allot- tees will have to register their property at Circle Rates, which are 25 to 30 percent higher than the original allotment rates.

“On March 10, govern- ment allowed registration of properties allotted over six months ago at allotment rates till March 31. There were thousands of old, unregistered properties which will benefit under this scheme. This is the last chance for such old allot- tees,“ said S.N.Rai, assistant inspector general (Stamps).

“As per Circle Rates, a property which has an allot- ment value of Rs 50 lakh could be worth Rs 65 lakh. This means that from April 1, the allottee will have to pay extra stamp duty for Rs 15 lakh. At the present rate of duty of five percent, the value of additional stamp duty comes to Rs 75,000.

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