Snag in online property registration, flat buyers hassled in Noida – ET RealEstate

NOIDA: After waiting for three-and-a-half years, Pooja Jaiswal, a resident of Delhi, was looking forward to moving into her new flat in a Sector 50 apartment. She arranged for the funds and paid the flat owner. She attempted to get her flat registered on October 19 since she wanted to do the transaction during Navratri. But her hopes were short-lived.

“Though the window showed my transaction had failed, Rs 93,000 got deducted from my account while doing the transaction. I had run out of money and could not pay again,” said Jaiswal, who was planning to hold a house-warming ceremony over the weekend.

Like her, hundreds of Noida residents have been struggling with online property registration. Half-a-dozen individuals are visiting the Sector 33 sub-registrar office in Noida to follow up after paying the stamp duty twice daily. Due to the pandemic, most homebuyers are avoiding a visit to the office and are trying to deposit the fees online. The service was initiated in February this year, but picked up pace in July.

“I too got the transaction failed message after the first attempt and made the payment again. I got the registry done but with a bitter experience. I did not feel like celebrating, “said Moumita Sarkar, another property owner who is following up for a refund of Rs 73,910. She had paid the same amount twice on September 29 for registration of her flat in a Sector 78 highrise society.

The department is aware of the issue and has raised it before Lucknow-based senior officials as well as State Bank of India, the bank designated on behalf of the department to collect payments.

Assistant inspector general of stamp and registration department of GB Nagar district, SK Tripathi, said, “Every Tuesday and Thursday, we have been following up on the status of pending payments with senior officials in Lucknow and SBI in Hazratganj.”

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Financial crunch forces Lucknow development body to put projects on hold – ET RealEstate

LUCKNOW: In the throes of a revenue loss of Rs 137 crore from March 25 to August 31, the Lucknow Development Authority (LDA) has decided to put brakes on its several development projects in the city.

LDA chief finance controller Rajiv Kumar Singh said the construction of housing projects in Devpur Para, Sultanpur Road and Aishbagh have been put on ice since March due to financial crisis.

Similarly, he said, work of multi-level parking in Transport Nagar and maintenance of 110 parks under LDA jurisdiction have been put on hold. However, Singh said all these projects would be resumed as soon as LDA’s financial health improves, for which several measures were being taken.

As per LDA records, development authority suffered a loss of Rs 41 crore during lockdown from March 25 to June 7.

After the process of gradual unlocking began, the development authority hoped to revive sources of incomes like registration of its housing and commercial properties, parking lots, map layout approval, rent from housing and commercial properties, ticketing facilities in parks and monetary penalty imposed from construction violators.

However, LDA managed to collect only Rs 12 crore against its target of Rs 27 crore in June.

In July, LDA generation was Rs 48 crore against the target of Rs 57 crore and in August Rs 36 crore against Rs 128 crore. To make up for the loss, LDA introduced a one-time settlement (OTS) scheme in July for 26,000 defaulters, who had not paid instalments of their housing and commercial units for the past several years.

The move to give 10% concession to defaulters worked and LDA managed to recover Rs 32 crore in the past 45 days. “OTS scheme has yielded some results and hope that scrapping the rule of income certificate for the purchase of commercial properties will attract more buyers,” said Singh.

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Home buyers in Uttar Pradesh can avail OTS offer till December – ET RealEstate

LUCKNOW: In another relief to pandemic hit home buyers in the state, the state government has decided to extend the one time settlement (OTS) scheme for allottees till December 31. The scheme had come to an end on Wednesday.

The development gains significance as it comes amid soaring numbers of house allottees defaulting on payments and thereby causing revenue loss to the housing board and development authorities.

In a fresh communique sent to the housing board and various development authorities, the UP housing and urban planning department laid down detailed amendments affected in the original OTS which came into being on February 7 earlier this year.

This followed CM Yogi Adityanath‘s directions to the housing department to come up with OTS scheme.

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RWAs warn of stir over delay in repairs by Lucknow development body – ET RealEstate

LUCKNOW: Residents Welfare Associations (RWAs) of eight apartments in Gomtinagar and Gomtinagar Extension have warned of a protest if Lucknow Development Authority doesn’t release their corpus funds to carry out maintenance works pending for three years.

At the time of registration of flats, LDA took Rs 10,000-12,000 from each allottee as part of corpus funds. The amount is kept by the authority till the time RWAs are formed. After that, LDA hands over the responsibility of maintenance to its welfare association along with the fund.

In 2017, LDA handed over the responsibility of maintenance work in eight apartments in Gomtinagar and Gomtinagar Extension — Ganga, Yamuna, Sunrise, Kalptaru, Sargam, Kaveri, Greenwood and Alaknanda — to RWAs. However, the Rs 9-crore corpus has not been released till date. As a result, RWAs are unable to carry out maintenance of lifts, boundary walls, fire safety equipment and CCTVs.

Gomtinagar Vistaar Jankalyaan Mahasamiti, a parent body of these RWAs, is planning to protest outside LDA office in Gomtinagar.

Its president KK Singh said, “LDA is turning a deaf ear to our demands. We are not asking LDA to carry out the maintenance work from its budget, but from the corpus created by the money deposited by the allottees.”

LDA vice-chairman S K Dwivedi said, “About 50% of the corpus fund will be released soon. We won’t be able to release the entire amount due to financial crisis.”

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