UP's New Registration Policy: Impact on Homebuyers and Developers in Noida & Greater Noida
11/25/2024 10:34:00 AM
The Uttar Pradesh government’s new registration policy has brought a major shift in the real estate sector, particularly in key regions like Noida and Greater Noida. Homebuyers are now required to pay a 6% stamp duty and 1% registration fee at an early stage, making the cost of homeownership more challenging, especially for middle-income families. Developers face increased compliance demands, which could lead to delayed project timelines and higher operational costs. While the policy aims to enhance transparency and accountability in real estate transactions, it also raises concerns regarding upfront financial burdens and the lack of clear refund or cancellation guidelines. This article delves into the implications of the policy for homebuyers, developers, and the overall investment sentiment in the Delhi NCR real estate market, exploring its potential to reshape the housing ecosystem in the coming months.
India