Pay Rs.100 per day if co-operative flats not registered

By Accommodation Times Bureau

Owners of unregistered flats in co-operative housing societies will now have to pay Rs.100 every day as fine from beginning of January 26,2012 which was set as the deadline by the Supreme Court.

The Noida Authority had set a deadline of three months for all the unregistered owners to get themselves registered with the Uttar Pradesh Stamp and Registration Department.

Supreme Court in 2010 September had directed individual allotters enter into a tri-partite agreements with Noida Authority within six months. An official of Noida Authority said,’’ the authority had allowed for registration of individual flats vide tripartite agreements without penalties except for the intervening period that the matter was in the apex court.’’

Also the authority had allowed for execution of these tripartite leese deeds without penalties between September 10,2010 and March 9,2011 and between July 27, 2011 and January 26 this year, over 3,500 individual flat owners have to execute Leese deeds.

The decision is taken in a board meeting in July , that no penalties will be impose on allotters who purchased the requisite stamp papers for the registration of these tripartite Leese deeds prior to January 26,who could not get registered.

Information about the documents required for executing has been already sent.







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