Noida – Property buyers in Noida are voicing strong objections to the recent implementation of a stamp duty fee on sale agreements, a move that has left many homeowners and prospective buyers frustrated. The stamp duty charge, which is now levied on the signing of sale agreements in addition to the final property transaction, has sparked debates over its impact on affordability and the ease of conducting property transactions.
Under the new regulation, buyers are required to pay a stamp duty fee on the agreement before the actual sale is completed, a step that is not only adding to the financial burden but also causing delays in the property registration process. Traditionally, stamp duty was applied only when the property deed was registered, but the recent change has shifted the financial burden to the initial stages of the transaction.
Many buyers argue that this additional fee creates an unnecessary cost, particularly in a market where real estate prices are already high, and the financial strain on homebuyers is significant. Critics are calling on the Uttar Pradesh government to reconsider the policy, suggesting that it could hinder the smooth flow of property transactions and discourage potential investors.
Real estate experts suggest that the new stamp duty on sale agreements could have a cascading effect, raising the overall cost of buying property in the region. They recommend a review of the policy to make property transactions more buyer-friendly and to support the growth of the real estate sector in Noida.
As of now, authorities have not issued any official statement regarding the possibility of revising the stamp duty charges.
