Builders Get Notices Who Offers Illegal Possession Of Flats From Stamps And Registration Department Of Gautam Budh Nagar Of Noida.

 
The Stamps And Registration Department Of Gautam Budh Nagar has started issuing notices to builders who have offered possession of flats to homebuyers without executing the registration of property.
As per the notice, the builder cannot offer possession without execution of registration because the government loses huge revenue. In the notice, builders are directed either to provide a list of all flat buyers who have shifted into flats without registration or face legal action.
The builders have been directed to provide the list in 15 days along with a copy of the agreement to sale (or lease).
The notice also states that the builder will also specify the reason as to why the registration is pending and why they had allowed illegal possession of flats.
“We have, from January 18, started issuing notices to builders, who have illegally offered possession to buyers. The notices will be sent to all those who have violated norms and offered possession with executing the registration,” SK Singh, assistant inspector general of the UP stamp and registration department in Noida, said.
According to Section 13 of the UP Apartment (promotion of construction ownership and maintenance) Act, 2010, a builder cannot allow possession or transfer of ownership right without executing the registration of the flat.
Officials said that the government is losing out nearly Rs700 crore in stamp fee due to non-execution of registry of the flats.
“We charge 5% of total flat cost as the stamp duty. Now, since the buyers are not getting registration executed, we are bearing a huge loss in the revenue annually,” Singh said.
“They have an option of buying stamp papers of the value of the duty payable by them even if the builder has not obtained an OC. They can use this option. The Supreme Court has issued notices to all stakeholders on January 17. Buyers, as well as the stamps department, should wait for some time. There will be a solution to all issues once the case is settled. The notice by the stamps department will be of no value once the SC notice is served.” Singh said.