HUDA eyes Rs 3,000 cr windfall through registry of plots
To recover over Rs 3,000 crore due from pending execution of conveyance deeds for over 50,000 plots allotted in Gurgaon and Rewari
May 05, 2015
Source : The Economic Times (


GURGAON: Haryana Urban Development Authority (HUDA) is about to send notices to allottees by May-end to ensure plots are registered. This they hope will help them recover over Rs 3,000 crore due from pending execution of conveyance deeds for over 50,000 plots allotted in Gurgaon and Rewari.
According to administrator Anita Yadav, there are about 50,000 plots in HUDA's estate office-1 and 2, and Rewari, which have been allotted but whose present owners are yet to pay stamp duty and get them registered. Yadav said almost 85% allotees have not availed their conveyance deeds, making do with just an allotment letter instead.
"Allottees should pay stamp duty, get their conveyance deeds and register the plots within five years of allotment. Almost 85% allottees though are yet to get this done. We decided to send notices to allottees soon to get their conveyance deeds executed," she explained.
According to a senior HUDA official, circle rates across various sectors under both Gurgaon's estate officers vary between Rs 25,000 and Rs 55,000 per sq yd. "In sectors 56, 57, 43 and 47, the circle rate is between Rs 45,000 and Rs 55,000 per sq yd, but in older sectors like sectors 5, 7, 4 and 12, they vary between Rs 25,000 and Rs 35,000 per sq yd. Circle rates in other allotted sectors is in between these two," he said.
The official said stamp duty needed for the conveyance deed varies between 5 and 7% of plot value, as per circle rates. "It's 7% for male owners, 5% for females, and 5% if men and women jointly own a plot," he said.
He added that if Gurgaons' average circle rate is to be taken at Rs 35,000 per sq yd, the value of a 100 sq yd plot would be Rs 35 lakh. At 6%, stamp duty would work out to Rs 2.10 lakh. Similarly, stamp duty for a 250 sq yd plot would be Rs 5.25 lakh.
A tentative figure given by HUDA authorities showed there are about 10,000 plots measuring 100 sq yd, about 25,000 plots of 250 sq yd and 15,000 plots of 500 sq yd, which are yet get their conveyance deeds executed. "This means the government has failed to claim about Rs 3,000 crore in stamp duty charges," said the official.

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