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In a bid to address the issue of over 23,000 flats being handed over without proper registration, the stamp and registry department in Noida has taken action against 66 builders. Notices have been issued, warning of legal consequences if the flats are not registered within a month. The district magistrate held a meeting on June 16 with developers and Noida Authority representatives to discuss the reasons behind the oversight. The authorities aim to safeguard property rights and prevent revenue losses. Efforts are underway to expedite the registration process and raise awareness among buyers.
Noida, a city in Uttar Pradesh, has witnessed a major discrepancy in the real estate sector as more than 23,000 flats have been handed over to buyers without proper registration. In response to this alarming situation, the stamp and registry department has taken action by issuing notices to 66 builders involved in these transactions. These developers have been given a strict warning of potential legal consequences if the flats are not registered within the next month.
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The district magistrate called for a meeting on June 16, where the developers and representatives of the Noida Authority were scheduled to discuss the reasons behind the delivery of flats without completing the necessary registration process. According to BS Verma, the assistant inspector-general of registration, a recent survey revealed that completion and occupancy certificates had been issued to these developers for the 23,000 flats. However, the registration process had not been finalized, leading to the issuance of notices.
Verma emphasized that the primary objective of these actions is to prevent losses in government revenue and safeguard the property rights of the flat owners. During the upcoming meeting, developers will be questioned about any obstacles they may have encountered during the registration process. The authorities aim to ensure that homebuyers who have paid their dues acquire legal ownership of their properties. The district magistrate intends to address the issue promptly and expedite the flat registration process.
To raise awareness among buyers, the stamp and registration department has initiated efforts to encourage individuals to register their flats. If developers violate building bylaws or fail to clear dues, their certificates may be withheld, impeding the registration process. Additionally, some developers purposely delay registering flats even after obtaining the necessary certificates. In these cases, developers do not provide the authorities with details of the original or first homebuyers, allowing them to manipulate the registration process. This deceptive practice enables developers to resell the properties without adhering to the proper procedures, thereby avoiding the associated fees.
In the financial year 2022-23, the department successfully registered over 1.4 lakh properties in Noida, marking an increase from the previous year's 1.2 lakh registrations. This year, the government collected an impressive Rs 3,018 crore in registration fees compared to Rs 2,377 crore in the previous financial year.
As the investigation continues and the district magistrate meets with developers and Noida Authority representatives, the authorities are determined to resolve this critical issue promptly. The unregistered flats pose a significant concern for both the government and homebuyers, highlighting the need for effective measures to ensure transparency and protect the rights of property owners.
In conclusion, the stamp and registry department in Noida has issued notices to 66 developers as over 23,000 flats remain unregistered. With legal action looming, the district magistrate has arranged a meeting to discuss the matter and expedite the registration process. These actions aim to prevent revenue losses and guarantee property rights for flat owners. The issue underscores the importance of proper registration procedures to maintain transparency and protect the interests of homebuyers in Noida.
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