Uttar Pradesh mandates homebuyers to pay 10% for agreement registration, raising market concerns.

The Uttar Pradesh government has introduced new regulations requiring homebuyers to pay 10% of a property's price for builder-buyer agreement registration, along with a 1% non-refundable registration fee and a 6% stamp duty. This has raised concerns among buyers and developers, as the added costs could deter homeownership and negatively impact the real estate market. Critics highlight the lack of clear refund policies in cases of cancellation, further complicating the situation for potential buyers.

November 07, 2024
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