Rollback #Stamp Duty hike in #Noida / Greater Noida 6798 persons petioned to @yadavakhilesh

Homebuyers in Noida / Greater Noida have been suffering since last 6 years. 80% of the projects are delayed and those constructed are still waiting for possession.

Noida Authority has created a mess out of this area. Unqualified developers are given large chunks of land and they have failed to deliver the houses. Add to that the issue of NGT which was a pure failure of administration.

While the homebuyers continue to wait, they are hit by the double whammy of the administration.

The Circle rates are revised every year and Noida Authority increased registration fee from 10000 to 20000.
The U.P. Cabinet approves a hike in Stamp Duty from existing 5% to 7%.

The homebuyers have already been paying various taxes like Service tax on construction, VAT, lease rent to Noida Authority and Stamp duty to the government. Yet, they are continuously burdened with additional taxes while the builder continues to exploit them.

We request the Cheif Minister of Uttar Pradesh, Mr. Akhilesh Yadav to spare the homebuyers of Noida / Greater Noida and save us from the further increase on stamp duty until our houses are ready.

In our view, a heavy penalty should be imposed on the developers by the State and the losses should be recovered from them.

When the properties are leasehold and we pay recurring lease rent to the Authority, why is that the state wants to break the back of already suffering buyers. If something is needed to be done is, it is to take the errant developers to task. Please spare the tax paying middle class.

regards,

Pained homebuyers of your State.