Noida Authority Issue Order for Registry of Flats ‘Carpet’ Area’
The Noida authority has issued an order mandating that the registry of flats will now be on the ‘carpet’ area, much to the relief of thousands of homebuyers who have long been demanding that the registry of a flat should not be determined by the ‘super area’--a factor that gives the scope to a developer to escalate the cost of an apartment The new order has paved the way for apartment owners to pay less to a developer and also a lesser registration fee for a flat to the stamp department. Since 2016, when the Real Estate Regulatory Authority (Rera) Act came into being, homebuyers intensified the demand for registry or sale of a flat on carpet area. Even before the Rera Act, homebuyers, citing the provisions of UP Apartment Act, used to demand that a flat’s rate be determined by the carpet area but the developers kept objecting to the demand. According to the provisions of the UP Rera that came into effect on May 1, 2016, the carpet area means the net usable floor area, excluding the area covered by external walls, service shafts, balconies, verandahs and open terraces. Buyers said the ‘super area’ refers to the common area that developers add to the actual size of the flat, thereby increasing the size of the unit to make more profit. The Noida authority has finally issued an official order, sending a copy of the same to UP RERA, the stamp department and other agencies in this regard. We are delighted with this order as it will benefit scores of homebuyers, who are looking to buy an apartment or get a flat’s registry done. “From the model guidelines issued in 2018 by the UP Rera, it is clear that the sale/purchase or sub-lease deed should be executed on carpet area. In future, sale/purchase or sub-lease deed should be executed only on carpet area basis,” said Neha Sharma, additional CEO of the Noida authority. There are at least one lakh apartments, whose registry has to be executed in Gautam Budh Nagar.
Tags : News/Views homebuyers Noida Authority RERA Carpet-area Gautam Budh Nagar UP Apartment Act Super Area Stamp Department