Govt relies on Noida rehab deal as 56% stamp revenue target achieved

18 Jan 2024 CW Team

With less than three months remaining for the conclusion of the financial year, it has been observed that the stamp and registration department in Noida is still to achieve nearly 50% of its revenue target set for the area.

The district had a revenue target of Rs 47.28 billion for the year 2023-24. As of December, the department had managed to collect Rs 26.62 billion, accounting for 56% of the set target. During the preceding financial year, the department registered 10,659 flats, a decrease from the 11,447 flats registered.

There is a heavy reliance on the government's rehabilitation package to revive stalled projects, aiming to expedite registries stuck due to outstanding payments and increase revenue for the department. Approximately 40 projects in the city have seen developers submitting consent letters to the Noida Authority for the government deal. Upon the clearance of these applications, builders will qualify for a zero-period waiver, allowing the registry of their flats after paying 25% of the revised dues.

In a review meeting, Rupesh Kumar, the commissioner of stamps and registration, directed officials from Noida, Greater Noida, and Yamuna Expressway to accelerate the registry process.

BS Verma, assistant inspector-general of stamps and registry, mentioned that the department typically increases its target by 10-15% each year. He stated, ?In the financial year 2022-23, Noida?s annual target was Rs 40.62 billion. However, we only achieved Rs 30.18 billion, which constituted 74.3% of the target. By December this year, we had collected Rs 26.62 billion.?

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..