Greater Noida homebuyers must now pay stamp duty at the time of booking new flats, changing the traditional registration timeline.
Explore Now !The move aligns with Section 13 of RERA, requiring a registered agreement to sell once 10 per cent of the flat’s cost is paid.
After initial registration, a possession deed will be signed separately during physical handover on a Rs 100 stamp paper.
The policy seeks to stop the resale of unregistered units, protect buyers’ legal rights, and speed up stamp duty collection.
Builders fear early stamp duty collection may cause issues if buyers default or cancel bookings, leading to legal challenges.
Many buyers feel paying full stamp duty upfront is unfair without guaranteed possession dates, calling it financially risky.
Noida and Yamuna Expressway authorities already follow similar rules requiring registration at the time of initial booking.
Greater Noida Authority plans to monitor results and may expand the approach across Uttar Pradesh if proven successful.