Greater Noida Authority Mandates Stamp Duty Payment at Flat Booking Stage

The Greater Noida Authority now requires homebuyers to pay full stamp duty, typically 6% to 7% of the property's value, at the time of booking a flat in new housing projects and not when the builder hands over possession. 

Builders must execute a registered 'Agreement to Sell' once 10% of the flat's cost is paid, aligning with RERA guidelines. A separate 'Possession Deed' will be signed upon handover.

The policy aims to prevent multiple unregistered transfers and enhance revenue collection.

However, developers and buyer groups have raised concerns about the lack of clarity on stamp duty refunds in case of booking cancellations, potential legal disputes, and increased financial burden on buyers.