Janhit Morcha protests against stamp duty hike
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Janhit Morcha protests against stamp duty hike

Janhit Morcha, a socio-political organisation, held a demonstration on Tuesday to protest the 2 per cent hike in stamp duty on sale and purchase of properties in Noida.

Janhit Morcha protests against stamp duty hike Janhit Morcha protests in front of the Noida Sub-Registrar office at Sector 33

Janhit Morcha, a socio-political organisation, held a demonstration on Tuesday to protest the 2 per cent hike in stamp duty on sale and purchase of property in Noida. The demonstration was held in front of the Noida Sub-Registrar Office in Sector 33. Residents of Noida, Greater Noida and Yamuna Expressway, including president of Noida Entrepreneurs Association (NEA) Vipin Malhan, were also present for the protest. The group was led by BJP leader Nawab Singh Nagar.

The Uttar Pradesh Cabinet had okayed a hike in stamp duty from the current 5 per cent to 7 per cent for property registry in Noida, Greater Noida and Yamuna Expressway earlier this month.

Protesters said that this 2 per cent hike would put an extra burden of Rs 1-2 lakh on buyers, as most properties in Noida cost more than a crore. This will add to the agony of home buyers, as most flats are delivered months after the scheduled completion date. Also, home buyers have already paid a chunk of the total price to the builder before possession. 

Nawab Singh Nagar, chief patron of Janhit Morcha, said that Gautam Buddh Nagar is a booming industrial township with many new opportunities, but real estate business and industries were suffering due to heavy transfer charges and lease rent charged by the three development authorities. "This hike in stamp duty is a new evil," said Nagar.

A letter by Janhit Morcha to UP Chief Minister Akhilesh Yadav stated that the circle rates of property in GB Nagar were already higher than the existing market rate, and a further jump in stamp duty would adversely affect development in the region. It also mentioned that the hike would add to the problems of the home buyers earlier caught up in the Okhla Bird Sanctuary (OBS) row. The National Green Tribunal (NGT) had barred Noida Authority from giving completion certificates to projects within a 10-km radius of the sanctuary, which had already delayed the projects in the area considerably. 

The letter was handed over to Arvind Singh Chandel, DIG, stamp and registration department. Speaking to City Spidey, Chandel said that the department had not received notification about the stamp duty yet. "We will ask the concerned authorities to consider the grievances of the people and try rolling back the hike," he added. 

Nawab Singh Nagar told City Spidey that Janhit Morcha was satisfied with the DIG's response and expected immediate action. "We are trying to nip the problem in the bud," he added.