The board meeting of Noida Authority is also going to be held soon. This proposal will be brought to the board.
It is often seen that a builder sells the same flat to many people to earn profit. He would have earned his profit but it would have resulted in a huge loss of revenue. Vandana Tripathi, ACEO of Noida Authority, said that because there is a tripartite registry in Noida.
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This picture is of the administrative block office of Noida Authority.-File photo
The builder used to earn profit by fraudulently selling the same flat multiple times.
By doing this the complete record of the buyers will be updated in the authority. Due to this the builder will not be able to sell the flat to anyone else. If it does so, buyers will have to get TM done from the authority and pay charges. Secondly, buyers will get the flat on time. Till now this system was not in force. In such a situation, the builder used to earn profit by fraudulently selling the same flat multiple times. Besides, buyers were also cheated. Many such cases are registered in RERA and Noida police stations. In which the builder cheated the buyers and sold the same flat to many people and took money from everyone in the name of TM.
This picture is of the flats under construction in Noida. -file photo
By paying 10% amount at the time of booking, the builder will execute the agreement to sell in his favor. Under the new rule, if a buyer goes to buy a flat from the builder, then by paying 10 percent of the amount at the time of booking, the builder will execute an agreement to sell in his favor. Also, this property will have to be registered by paying stop duty as per its value. While giving possession after completion of construction, possession deed can be registered on stop paper of Rs 100.
This picture is of officials meeting in Noida Authority.
Benefits of new rules The biggest problem in Noida is lack of registry. Here the builders did not deposit the authority’s money. In lieu of which the authority has stopped the registry. After Amitabh Kant’s recommendation, registration is being done by taking 25 percent amount from the builder. Nothing like this will happen under the new rule. As soon as the buyers will book the flat by paying 10 percent of the amount, At the same time, the builder will register the agreement to sell in favor of the buyers by paying stop duty on the total value. Once registered, buyers will get ownership rights. This will also eliminate the fear that his flat has not been sold anywhere else. The authority or government will get revenue. Also, the manipulation done by the builder will end.
The proposal will go to the board A letter related to this has been sent to Noida, Greater Noida and Yamuna Development Authority on behalf of the Housing and Industrial Development Commissioner. Yamuna Authority has brought the proposal in the board and implemented it here. The board meeting of Noida Authority is also going to be held soon. This proposal will be brought to the board. It will be implemented as soon as approval is received from there.
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