Shankar Roy has been in the process of buying a flat of his own for two years now. He entered into a sale agreement with a builder on the South-East outskirts of the city, and the flat is expected to be handed over to him in the next three months, when the property will be registered in his name. However, he has now run into an unforeseen problem.
The guidance value of his flat has shot up by nearly 50%, in effect from October 1. Now the stamp duty and registration charges for his flat - 6.65% of the guidance value of the flat - has also shot up severely. He is now likely to have to shell out an additional ₹2.5 lakh for registering his flat.
He’s not alone. Thousands of homebuyers across the city are facing the same problem, as the State government hiked the guidance value in the city by an average of 30% to 40%, from October 1, almost five years since the last revision. In some cases, especially on the city’s outskirts where most apartments and gated communities are coming up, even up to 80-100%.
