Noida Realtors Push Back Against Costly Early Registration Fees for Homebuyers

Realtors Challenge New Registration Duty Mandate

Real estate developers in Noida and Greater Noida are raising concerns over a new mandate that requires registration of builder-buyer agreements upon paying just 10% of the property's value. This requirement, they argue, adds a substantial financial strain on homebuyers right at the initial stages of the purchase.

Impact on Homebuyers: A Costly Upfront Stamp Duty

The mandate obliges buyers to pay a 6% stamp duty after paying 10% of the home’s cost, a move developers warn will create an unnecessary financial hurdle.

Manoj Gaur, chairman of the Confederation of Real Estate Developers' Associations of India (CREDAI), indicated that this approach would place undue pressure on buyers who are already managing a sizable payment at the booking stage.

A Call for Standardized, Nominal Charges

Developers point out that other states implement sale agreements on a minimal stamp paper costing between ₹1,000 to ₹10,000, allowing more flexibility for buyers.