Noida: People came to Noida with big hopes to owe a dream home in Noida city. But the collusion of builders and authority officials has turned it into a nightmare. The physical stamp papers of people who have been fighting for the registration of their homes for years have become old. This is not our saying, it is the government’s saying. The government has declared such physical stamp papers invalid after March 31.
The year 2008 was a boom in the property market in Noida
Whenever people of Noida-Greater Noida hear or read the words ‘dream house’, they cry tears of blood. Around 2008, there was a tremendous boom in property in Noida- Greater Noida. Big boards and banners started appearing on the roads everywhere, newspaper pages were also filled with their advertisements. Somewhere the dream house was being sold, the dream of giving a lifestyle like Cape Town, Paris, London and New York. Thousands and lakhs of home buyers were attracted to these advertisements by the builders. Then, people booked their dream house by investing their life’s earnings. The dream was of a life that people live abroad. But it did not take long for these dreams to be shattered. In the last 17 years, the dreams of home buyers have been shattered again and again. Now another trouble has fallen on them. The physical stamp papers that they had bought years ago for the registration of their house will become useless after March 31. The government says that physical stamps will not be valid after March 31.
What is the news?
The Uttar Pradesh government issued a notification on March 11, 2025. According to this notification, physical stamp papers ranging from 10 to 25 thousand will not be valid after March 31. As soon as this news came out, home buyers in Noida and Greater Noida lost their sleep. According to a figure, in Gautam Buddha Nagar district alone, more than 50 thousand flat buyers have physical stamp papers.
What is the problem of home buyers?
What problem do home buyers have with this decision? The answer to this question is the nexus between the builder and the officials of Noida and Greater Noida Authority. Even after so many years, thousands of people in the entire Noida-Greater Noida area have not got their dream house or flat. Most of the people who have got flats or houses have not yet been registered. Whereas on the builder’s instructions, they had bought physical stamp papers for registration years ago. The problem is that now these stamp papers of theirs are going to become waste.
What will be received in exchange for the old physical stamp papers?
People who have bought physical stamp papers for the registration of their house can deposit them with the district administration. The question may arise what is the problem when the old stamp papers are returned? The problem with this is that home buyers will get only 90 per cent of the amount back in exchange for their old physical stamp papers. That is, 10 per cent will be deducted. Whereas their amount has been blocked for so many years, if they had invested somewhere, they could have earned a good amount in return. It is not the fault of the home buyers for not getting the registry done, despite this, a deduction of 10 per cent will be made on the physical stamp paper purchased by them.
The government should bear the expense
Home buyers have been protesting every Sunday for years to get their houses registered. The authority and the builder are directly responsible for the non-registration. People say that if the government has already made up its mind to cancel the physical stamp paper, then the government should bear the deduction of 10 percent. Why should they bear a loss of 10 percent without any fault?
Why was the registry not done?
Why has the registration of flats not been done to date? This question has arisen due to the collusion of builders and authority officials. Yes, the authority allotted land to the builders by taking token money. Then the builders launched their projects one after the other and sold flats to the common people in the air. People invested their lifelong earnings in the schemes, but many schemes have not been completed to date. Some schemes were completed or partially completed and some home buyers got their flats. However, the builder did not pay the remaining amount for the plot within the time limit given by the authority. The builder collected the full price of the flat from the home buyers, but did not pay the full price of the plot to the authority. The home buyer is not at fault in this whole game. But the authority stopped the registration of flats because the builders did not pay its money. The authority must have many other options to recover the price of its plot from the builder, but it thought it better to punish the home buyers instead of the builder by stopping the registration.