Noida residents will be surcharged on buying properties surrounded with trees

By Accommodation Times News Services

If you are greenery lover and you desire to buy a house surrounded with trees, this will cost you more money, as per the new rule in Noida houses surrounded with trees will be charged with extra stamp duty on purchase of the property. The Uttar Pradesh stamps and registration department has amended a new rule, extra charges will be levied for registration of property which consists of grown-up trees like jamun, mango, shagon, sheesham.

As per the new rule, along with the registration charges 5 per cent stamp duty on the total cost of trees. It is first time when such kind of rule is implemented by the state government in the city. “The new rule will be applied since, 1st August and the surcharges on the trees situated in the property will be added to the cost of the property. Also, 5 per cent stamp duty will be charged on the total cost of the trees,” said SK Singh, assistant inspector general of stamps and registration department.

Every tree is levied with different charges depending on the types, fruit bearing trees are charged from Rs.5, 000 to Rs. 15, 000 and non-fruit bearing trees will be charged with Rs. 3, 000 to Rs. 5, 000. Further charges are divided into two categories i.e. less than 10 years and above 10 years, charges will depend on the age and type of the trees.

At one hand government and the environment ministry is trying to promote green living amongst people and on other hand implementation of such surcharges on trees will restrict people from opting greener environment. Also, such surcharges will increase the cost of houses, where people are in search of affordable housing, this will increase their budget of purchasing homes. Environmentalist are opposing this decision of the state government, as this will decrease the demand of homes with green environment and this will also affect the real estate market.





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