Norms for registering flats in Ghaziabad highrises relaxed
The need for 'completion certificates' of projects at the time of registration has been done away with completely, while submission of 'deeds of declaration' has been made mandatory
Nov 29, 2014
Source : The Times of India

 

GHAZIABAD: The department of stamps and registration of Ghaziabad has relaxed the norms for registration of flats in high-rise apartments of the city.

The need for 'completion certificates' of projects at the time of registration has been done away with completely, while submission of 'deeds of declaration' has been made mandatory for those projects sanctioned by the development authority after 2011.

Directions pertaining to new norms were issued to all five sub-registrars of Ghaziabad on Thursday. These decisions were taken in a meeting between the revenue department of the district administration, stamps and registration department and GDA, along with representatives of a few real-estate companies, on Wednesday evening.

Stamp department officials said the necessity of 'completion certificates' and stamp papers is redundant, as individual flat owners apply for registration only after their units are completed, irrespective of the status of the entire project.

"Registrations of individual flats will be inordinately delayed if property owners wait for projects to finish, in order to obtain completion certificates," said G P Singh, AIG, department of stamps & registration, Ghaziabad. Similarly, 'deeds of declaration' have been made mandatory only for projects sanctioned after 2011, the year when the state government framed the UP apartment act, 2010.

"The concept of 'deeds of declaration' did not exist before the rules of the Act were framed. Thus, the developers, whose projects were sanctioned before 2011 wouldn't have deeds of declaration. So they can't be demanded from flat-owners in projects sanctioned before 2011," he added.

Submission of these documents for registration had been made mandatory by the district administration in an order issued on November 3, after the Federation of Apartment Owners' Association (FedAoA) in Ghaziabad informed the administration that the exchequer was losing crores of rupees it otherwise used to earn from 'compounding charges' on unauthorized project extensions that had already been cleared by the stamp department.

Expectedly, FedAoA expressed unhappiness about the ruling. "The administration might allow for registrations based on partial completion or do away with completion certificates, but it will provide a leeway to developers to hand over a project without fire, electrical and other clearances. Also, we won't know if a flat, sought to be registered, has been sanctioned in the original plan or added later. Unauthorized flats will also get legalized through this," said Alok Kumar, president, FedAoA.

Latest Realty News

Bengaluru office spaces grow pricier with hiked guidance values
Nov 29, 2014
BENGALURU: Prices of office spaces in Bengaluru have increased enormously lately, only deep pockets will be able to afford these places
Centre likely to drop plans to introduce land acquisition bill in winter session
Nov 29, 2014
New Delhi: The Centre is likely to drop its plans to introduce the land acquisition amendment bill this session
Realty market seeing no slowdown, says HDFC CEO Keki Mistry
Nov 29, 2014
Mumbai: Housing Development Finance Corporation (HDFC) has seen no reluctance among home loan borrowers and overall sentiment is upbeat
CAG trashes SEZ Policy for diverting land to realty projects
Nov 29, 2014
New Delhi: The CAG has trashed the Special Economic Zones (SEZs) Policy as it has ended up diverting huge tracts of land acquired for setting up manufacturing facilities and generating jobs to real estate projects
DDA goes for image makeover with luxury houses in west Delhi
Nov 29, 2014
New Delhi: Delhi Development Authority (DDA) is all set to give top private builders of Delhi-NCR a run for their money
In 3 years, Robert Vadra firms reaped up to 600 per cent profit in land deals
Nov 29, 2014
Three companies owned by Robert Vadra, son-in-law of Congress president Sonia Gandhi, made profits up to 600 per cent within three years of investment in real estate in Rajasthan
US Realty Market Emerges as Investment Destination for Indians
Nov 28, 2014
Mumbai: With the US market emerging as an attractive investment destination, there is a growing interest from Indians to buy properties there, property consultant Jones Lang LaSalle (JLL) said
DDA to launch bigger housing scheme in 2016
Nov 28, 2014
New Delhi: If you have not managed to get a flat in the Delhi Development Authority’s (DDA) housing scheme, there’s still hope
Priyanka Chopra to endorse real estate group
Nov 28, 2014
Delhi: Bollywood actress Priyanka Chopra was roped in to endorse Unnati Fortune Group, a real estate entity
'Smart city' buzz sends land prices soaring around Visakhapatnam
Nov 28, 2014
VISAKHAPATNAM: All the buzz about transforming Vizag into a `smart city' seems to have sent rates of land in and around the Port City spiralling northwards

Latest Realty News Of State

Realty Talk's