+
Noida Authority slashes transfer charges of residential properties
Real Estate

Noida Authority slashes transfer charges of residential properties

On Friday, the Noida Authority lowers the transfer charges of residential properties. The residential owners will now have to pay 2.5% as transfer charges instead of 5%.

The transfer charges of commercial properties, industrial and institutional properties have also been revised.

Uttar Pradesh infrastructure and industrial development department asked the industrial development authorities in Noida and Greater Noida to standardise their policies. In June, the Greater Noida Industrial Development Authority (GNIDA) lowered the rates.

Sanjeev Mittal, Chairman of Noida Authority, in a meeting, said that the revision of transfer charges is crucial for residents, and many residents and associations have asked the authority to lower the transfer charges.

Rakesh Kumar Srivastava, Deputy inspector-in-general of stamps and registration, told the media that the authority had decided at a suitable time. It will improve the realty market before the festive season.

Residential groups are also welcoming the decision. The lowering of the transfer charges has helped the residents to buy or sell properties. But the authority should also work on the issues of stranded buyers who cannot execute their registry, said apartments' owners' association of Prateek Wisteria, Amit Gupta.

The transfer charges of institutional properties have also been lowered from 10% to 5%. People who are buying commercial properties will also have to pay 5% for plots, whereas people buying kiosks and shops will have to pay 2.5%.

All the allottees have been given six months of additional extension to get a certificate of completion according to their lease document without paying any extra charges.

Working executives of the Delhi Chilla elevated road are looking forward to the completion of the project on time. The elevated road project was delayed because the government did not give the share of its funds for the project.

Image Source


Also read: BMC to waive off around Rs 41 cr property tax for hotels

On Friday, the Noida Authority lowers the transfer charges of residential properties. The residential owners will now have to pay 2.5% as transfer charges instead of 5%. The transfer charges of commercial properties, industrial and institutional properties have also been revised. Uttar Pradesh infrastructure and industrial development department asked the industrial development authorities in Noida and Greater Noida to standardise their policies. In June, the Greater Noida Industrial Development Authority (GNIDA) lowered the rates. Sanjeev Mittal, Chairman of Noida Authority, in a meeting, said that the revision of transfer charges is crucial for residents, and many residents and associations have asked the authority to lower the transfer charges. Rakesh Kumar Srivastava, Deputy inspector-in-general of stamps and registration, told the media that the authority had decided at a suitable time. It will improve the realty market before the festive season. Residential groups are also welcoming the decision. The lowering of the transfer charges has helped the residents to buy or sell properties. But the authority should also work on the issues of stranded buyers who cannot execute their registry, said apartments' owners' association of Prateek Wisteria, Amit Gupta. The transfer charges of institutional properties have also been lowered from 10% to 5%. People who are buying commercial properties will also have to pay 5% for plots, whereas people buying kiosks and shops will have to pay 2.5%. All the allottees have been given six months of additional extension to get a certificate of completion according to their lease document without paying any extra charges. Working executives of the Delhi Chilla elevated road are looking forward to the completion of the project on time. The elevated road project was delayed because the government did not give the share of its funds for the project. Image SourceAlso read: BMC to waive off around Rs 41 cr property tax for hotels

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?