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Tuesday, Dec 10, 2019

Amrapali flats’ registration to begin in Noida after call on circle rates

The registration process for these flats had begun in August of this year wherein homebuyers submitted affidavits and other necessary documents.

real-estate Updated: Dec 05, 2019 07:02 IST
Vinod Rajput
Vinod Rajput
Hindustan Times, Noida
Formal registration of Amrapali Group’s housing projects flats will begin only after circle rates to be effective for these projects are decided, Supreme Court appointed receiver said.
Formal registration of Amrapali Group’s housing projects flats will begin only after circle rates to be effective for these projects are decided, Supreme Court appointed receiver said.
         

The Supreme Court (SC) appointed court receiver said that the formal registration of Amrapali Group’s housing projects flats will begin only after circle rates to be effective for these projects are decided.

The registration process for these flats had begun in August of this year wherein homebuyers submitted affidavits and other necessary documents. Now, to formally enter their names into the registry, homebuyers will be required to pay stamp duty based on the specific circle rates in specific areas as decided by the government from time to time.

Homebuyers had requested the court receiver R Venkataramani to begin the registration on circle rates that was in force for the year 2013-14, which was when the builder was to deliver flats as per agreement.

They argued that the delay was on part of the builder, and that they should not be made to pay a stamp fee on the basis of year 2019-2020, which was higher.

The Supreme Court registrar is tasked with taking the final call on circle rate. While there is no deadline on the matter, the decision is expected soon.

“We were supposed to start flat registration by November end or the first week of December. But apartment owners raised the issue of circle rate that will be finalised by the registrar of the court. We are likely to put this issue before him shortly so that a decision on it can be taken, paving way for flat registration. We cannot decide it on our own so let a decision be taken first before we can start registration,” said court receiver R Venkataramani.

The issue of circle rates was raised in the meetings with apartment owners, the receiver added.

Homebuyers hope that the Supreme Court registrar will rule in their favour.

“We had raised the issue of circle rate with the court receiver because why should we pay more for flat registry now due to the fault of the builder, who failed to live up to the terms of agreement that promised delivery in 2012. In 2012, the circle rate was ₹30,000 per square metre and now it is around ₹45,000 per square metre in sector 119. The circle rate on old rates will save us around ₹1 lakh. We hope a positive decision on it is taken in favour of buyers,” said Harjit Singh, an apartment owner of Amrapali Platinum in sector 119.

As per an estimate by officials of the Noida and Greater Noida authorities, there are around 10,000 buyers who want to get registry executed in 16 Amrapali projects. These 16 projects include Sapphire I and II, Silicon City, Princely Estate, Zodiac, Platinum, Castle, Leisure Valley, Centurion and Eden Park, among others.

Some disagree

However apartment owners in Amrapali’s Sapphire want flat registration to be started soon.

“The flat registration should start at prevailing circle rate because the process to finalise it on the basis of the circle rate in 2013 and in 2019 will delay the the whole process. In Sapphire (sector 45 area), for example, the circle rate for 2013 and 2019 is the same as ₹50,000 per square metre. We request to the registrar that entering the flats into the registry should start without looking into the circle rate issue,” said Pallavi Singh, an apartment owner in Amrapali Sapphire.