Latest news with #Registration&StampsDepartment
The Hindu
01-05-2025
- Business
- The Hindu
Andhra Pradesh government eases registration burden for NTR Smart Township plot buyers
In a major relief to middle-income homebuyers, the Government of Andhra Pradesh has introduced a new registration framework for plot purchases in NTR Smart Townships (MIG Layouts) and the CRDA region. The move, aimed at reducing financial stress on buyers, introduces a two-document registration system that significantly lowers upfront registration costs. According to fresh guidelines issued by the Municipal Administration and Urban Development Department, under G.O. Ms. No. 76 on Wednesday, the registration of plots will now be split into two parts—one document will cover the Base Price (constituting 60% of the total sale value), and a second will account for the Development Charges (the remaining 40%). Crucially, while the standard 7.5% registration fee will apply to the Base Price, only a nominal 0.5% fee will be levied on the Development Charges. S. Suresh Kumar, Principal Secretary of the department, said the revised registration structure was framed in consultation with the Registration & Stamps Department after concerns were raised about earlier registration practices, which caused confusion and financial difficulties for plot allottees. The initiative builds on a 2022 government directive, allowing Urban Development Authorities (UDAs) to categorise the total sale value into two components and register plots based solely on the Base Price. However, implementation hiccups followed. In the capital region, for instance, the APCRDA had executed 258 plot sale deeds in Nowluru MIG Layout using this method, but allottees later received recovery notices under Section 41A from the District Registrar for alleged stamp duty shortfalls. Similar complications arose in Visakhapatnam, where the VMRDA had adopted a bifurcated pricing model — ₹8,700 per sq. yd for Base Price and ₹5,800 per sq. yd for Development Charges. However, inconsistent registration practices led to confusion among buyers and officials alike. To address these challenges, a joint review meeting was convened by the Principal Secretary, bringing together officials from the Registration & Stamps Department, APCRDA, VMRDA, the Director of Town and Country Planning, and the Special Officer for MIG Layouts. Following detailed deliberations, a standardised and legally compliant registration process was finalised, Mr. Suresh Kumar said. The government has now mandated uniform implementation of the dual-document registration system across all UDAs in the State. Officials say this move not only ensures clarity and consistency in stamp duty enforcement but also underlines the State's commitment to making affordable housing accessible to middle-income families.
Hans India
01-05-2025
- Business
- Hans India
Govt asks UDAs dual-docu system for plot buyers in CRDA, NTR townships
Vijayawada: In a significant move aimed at reducing the registration cost burden on middle-income families, the State Government on Wednesday directed all Urban Development Authorities (UDAs) across the Andhra Pradesh to implement a dual-document system for plot registrations under the NTR Smart Townships (MIG Layouts) scheme. As per the latest instructions, for the plots purchased in NTR Smart Townships / MIG Layout and CRDA area, registrations will now be bifurcated into two separate documents: one for the Base Price (60% of the total sale value) and the other for Development Charges (40% of the total sale value). The department of municipal administration and urban development issued the orders to this effect. As per the orders, Registration charges of 7.5 per cent will apply to the base price component, while only 0.5 per cent will be levied on the development charges. This move is expected to bring significant relief to homebuyers by lowering their upfront registration expenses. Announcing the decision, S Suresh Kumar, Principal Secretary, Municipal Administration and Urban Development Department, on Wednesday stated that the revised registration mechanism has been formulated in consultation with the Registration & Stamps Department and other key stakeholders, following reports of confusion and financial strain on allottees due to earlier practices. The State Government had earlier permitted UDAs to divide the sale price into two components — base price (60 per cent) and development charges (40 per cent) — and mandated that registration documents should be based on the base price alone. These guidelines were given in 2022. Now, revised guidelines are issued with modifications. The AP Capital Region Development Authority (APCRDA) reported that although sale deeds for 258 allotted plots in Nowluru MIG Layout (out of 386 notified plots) were executed in accordance with the base price principle, subsequent recovery notices were issued under Section 41A by the District Registrar, demanding deficit stamp duty from allottees. Similarly, in Visakhapatnam District, the Visakhapatnam Metropolitan Region Development Authority (VMRDA) had implemented a bifurcated pricing model (Base Price: Rs.8,700/sq. yd; Development Charges: Rs.5,800/sq. yd), but discrepancies in registration practices led to confusion. In response to these issues, a joint meeting was convened by the Principal Secretary with senior officials from the Registration & Stamps Department, APCRDA, VMRDA, the Director of Town and Country Planning, and the Special Officer for MIG Layouts. After detailed deliberations, a clear and uniform procedure was agreed upon. As per the revised guidelines, the two-document registration system is to be adopted uniformly across all UDAs in the State to eliminate ambiguity and ensure consistent enforcement of stamp duty regulations. This measure not only aligns with legal provisions but also reaffirms the Government's commitment to making housing more affordable for middle-income groups.
