Stamp Duty on Bike Parking Waved-off by noida authority
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The Gautam Budh Nagar District Administration offer more relief to the homebuyers. The authority has now waived off the stamp duty on two-wheeler parking in the housing societies. The proposal had been submitted to the authority to wave-off of the 5% stamp duty has been accepted and now the aspiring landlords are not required to pay charges for availing two-wheeler parking in a housing society.

Although, the people still have to pay a stamp duty of 5% for availing car parking. Apart from this many other proposals sought rebate in the circle rates. According to the sources, more rebates were proposed under different categories and opinion has been asked from the stakeholders. BN Singh, the District Magistrate said that various other rebates on circle rates are unchanged and the authority gave nod for bike parking wavier.

Earlier this month, the Gautam Budh Nagar District Administration announced that the circle rate in the area will remain unchanged but the surcharge on some specific amenities in housing societies will be decreased. Both these moves, including wave-off of stamp duty for two-wheeler parking and an unchanged circle rates, is likely to boost the property market of Gautam Budh Nagar in a positive manner.

The District Magistrate BN Singh earlier said that the authority gave nod to the rebate in Circle rate to welcome more investment in the twin cities. Also, this is the first time when the authority has proposed lower circle rates in the past six years. The revised circle rates will be implemented from August 1.