Kolkata records 39,832 property registrations between Jan-Oct 2021
As many as 39,832 property registrations were completed in Kolkata between January and October, a little more than double the number (19,876) of the corresponding period last year.
As many as 39,832 property registrations were completed in Kolkata between January and October, a little more than double the number (19,876) of the corresponding period last year.
Following the resumption of new registrations, the office of the inspector general of registration also notified rules that permit even those registering sale agreements to take benefit of the scheme by paying the applicable stamp duty at the time of possession.
The worst hit are those who had sealed the deals and were planning to move into the new apartments by this month after a house warming ceremony or ‘griha pravesh’.
The state had set an annual revenue target of Rs 6,872 crore from registration and stamp duty in 2020-21. The RA office in Kolkata alone generates around Rs 1,100 crore a year.
Mutation of properties can happen only after registration. The final home loan is also disbursed to the developer only after the property is registered.