Three builders booked for Rs 100 crore flat registry dues

Three builders booked for Rs 100 crore flat registry dues
17/12/2018 , by , in News/Views

The Ghaziabad administration has lodged FIRs against three developers for failing to register flats or properties with the stamp and registration department even after receiving full payment from buyers and handing over flats. Officials said the builders owed the stamp and registration department over Rs 10 crore.

The developers had been given time till October 20 to get the properties registered but none of them has done it so far. The administration has now lodged an FIR against them for violating provisions of the Stamp Act, 1899.

The errant builders are M/s ShauryaSubham Infra Pvt Ltd, whose project Aura Chimera is in Raj Nagar Extension, MMV Agency Pvt Ltd, which is building Jaipuria Sunrise Green in Bamhetta, and MR Proview Realtech Pvt Ltd, two of whose projects Shalimar City and Officer City-1 projects in Raj Nagar Extension are yet to be registered.

“We had convened two meetings with the builders in September and October and asked them to get the registries done by October 20. They have handed flats to buyers after taking full payment from them,” said district magistrate Ritu Maheshwari. “But even after two months, many builders have failed to get the properties registered,” she added.

The DM said there were more such builders who hadn’t registered their flats, but in the first phase, the administration had penalised only those developers who have more than 100 flats each that are yet to be registered. “In days to come, more such FIRS would be lodged against such builders,” Maheshwari said.

Mewa Lal Patel, AIG in the stamps department, said: “According to Section 13 of the UP Apartment Act and provisions of the Stamp Act 1899, it is mandatory for builders to get flats registered whose physical possession has been given to buyers after receiving full payment.”

The revenue of the stamp department has dipped considerably ever since the administration stopped the registration of illegal and unauthorised colonies on December 3. According to one official, the department has been incurring a revenue loss to the tune of Rs 1 core per day. The annual revenue target set by the state government through registries is Rs 1,626 crore.

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