PROTEST AGAINST PRPOSED HIKE IN CIRCLE REGISTRATION IN NOIDA BY FONRWA.

An email has been sent to Principal Secretary, Stamp & Registration, govt of U P, Lucknow.Copy will be posted on whatsap tomorrow. Salient points are : A-Proposed hike is unjustified & against interests of noida residents already reeling under steep circle rates/lease rent/transfer charges. B-Market rates are 25 to 30 percent lower than circle rates in many areas due to recession in real estate. C-The hike will make it very costly for middle/lower class segment of society to purchase dwelling units. D- There is a provision in Income Tax that tax liablity will be on registration payment, which is much lower than actual market prices. D-A committee should be formed to include representatives of affected groups including President FONRWA to represent noida residents to take a comprehensive view based on actual ground position. E-The hike in circle rates should NOT be a tool to raise revenue at cost of law abiding residents. F-Request to reconsider the proposal in interests of residents & spare them unwarranted hike.Haryana govt has also rolled back circle rates due to reasons enumerated. G-FONRWA will mobilse mass protests if circle rates are hiked.