Pay current circle rate, SC asks owners

In a setback to around 8,000 flat owners of Noida cooperative housing society, the Supreme Court on Wednesday directed them to get their flats registered as per the present circle rate of the area.

In a setback to around 8,000 flat owners of Noida cooperative housing society, the Supreme Court on Wednesday directed them to get their flats registered as per the present circle rate of the area.

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While clarifying its judgment passed last year, a bench of Justice Dalveer Bhandari and Justice HS Bedi said the registration amount would be calculated at the current rate even if flats were purchased earlier.

On September 10 last year, the apex court had ruled that the group housing society members would have to execute a tripartite agreement with the local authority and pay stamp duty at the time of transferring the flats in their names.

The September judgment had an impact on those housing societies which were set up on the land taken on 99-year-old lease from the state government. The societies were exempted from paying stamp duty at the time of purchase.