Noida: The family who wants to buy a secondary market property in Noida must pay only 50% of the transfer fee from Friday.
Noida authorities on Thursday issued orders, reducing property transfer costs to 2.5% from 5%, a day after the minutes of the September 24 council meeting was approved by the state government.
Although the authority has announced that it will reduce the cost of transfer of property to 2.5% after holding its council meeting, the buyer waits for an official announcement to enter the secondary market.
Now, applicants must pay half of the number to get a memorandum letter transfer.
Applicants must pay 2.5% of land premiums that apply in this sector to formalize the process.
Shephali Malhotra, a resident of sector 51 who had lived on rent, said, “I want to buy a flat but decide to wait until the transfer fee for resale.” A senior authority officer said that the Ministry of Finance was awaiting minutes and orders will take effect from October 8.
Cutting costs for securative property transfers
