Kolkata: almost two weeks after the announcement of a 2% reduction in state budget in stamp duty and a 10% thick line in the circle rate for registered properties on October 30, the new home buyer cannot take advantage of the twin concession due to errors in registration software.
The worst hit is those who have sealed the deal and plans to move to a new apartment this month after the home heating ceremony or ‘Griha Pravesh’.
According to Hindu Almanac, Tuesday is the last lucky day to take over the new house without the date available in the next three months.
With a scheme that offers a savings of almost Rs 1.25 lakh on the flat purchased for RS 50 lakh available to only 30 October, home buyers and developers worry about the lost time in repairing the system.
“Because this is a limited period scheme, the government must extend the deadline or office in Kolkata and other parts of the state must function for hours to compensate for losses,” said Confederation of Indian Real Estate Developer Association (Credai) Bengal President Nandu Belani , While 50 new properties are usually registered in the office of the Assistant Assistant Assistant (Aras) in Kolkata every day, obstacles have left 650 buyers waiting on the sidelines.
“The real numbers can be 40% more as an incentive is expected to trigger a boost in sales and registration,” said a broker.
Inspector General Registration T Balasubramanian said IT experts worked to correct errors and hoped the system would rise and run in a few days.
“Registration of a prominent question continues.
But there are no new questions resulting because of the error that occurs after the new exchange rate is inserted into the system and the experiment is done a day after the budget,” he told TII.
IGT assured that the office would function for additional hours or on Sunday to provide home buyers to register their property and utilize the incentives.
“Within a few days, we will also issue guidelines for registration of selling deeds and how many concessions will apply at that time,” Balasubramanian said.
At present, the task of the 2% stamp must be paid when registering a sales deed and the remaining 4% for property at the price below Rs 1 Crore and 5% for properties above Hospital 1 Crore must be paid during the transfer of titles or vehicles.
According to sources, the government is likely to allow home buyers to take advantage of a 2% discount if they pay the remaining 4% -5% when registering a sales certificate.