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After Unchanged Circle Rates, Noida Waives Stamp Duty For Bike Parking

After Unchanged Circle Rates, Noida Waives Stamp Duty For Bike Parking

After Unchanged Circle Rates, Noida Waives Stamp Duty For Bike Parking
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In a good news for some of the homebuyers in Noida, the Gautam Budh District Administration has now announced a waiver on the stamp duty levied on two-wheeler parking in the housing societies.

 The five per cent stamp duty a homeowner had to pay earlier in case they opted for two-wheeler parking has been waived off as the authority approved the proposal submitted to it.

However, the five per cent stamp duty on car parking still remains.

 The other proposals included a rebate in circle rates.

“We had earlier proposed rebates under different segment and sought feedback from stake-holders. In the final meeting, we decided to waive off the stamp duty levied on two-wheeler parking. The other proposed rebates on circle rates remain the same and they have been approved,” district magistrate BN Singh was quoted as saying in a Times of India report.

It was on July 11 that it was announced that there will be no change in circle rates, however, surcharge on certain common facilities in a housing society will be lowered. This move is expected to bring down the property prices in Noida and Greater Noida, the two markets that have been struggling with a downfall in sales.

Last Updated: Mon Jul 30 2018

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