ghaziabad the up governments decision to hike property registry fees has left both homebuyers and developers disappointed they feel the new rate will lead to higher property prices thus further dampening the investor sentiment at a time when the real estate sector is going through a slumpearlier the registry fee was rs 10000 for properties up to rs 10 lakh and rs 20000 for properties over rs 10 lakh the new rates a flat 1 of property cost came into effect on february 14this means that if the cost of a flat is rs 50 lakh the owner will have to shell out rs 50000 against rs 20000 earlier and if the stamp duty at 7 which would be rs 35 lakh is added then the owner will have to shell out about rs 4 lakh extra for that rs 50 lakh flatanimesh choudhary a potential homebuyer said for the time being i may have to abandon my plan to invest in a readytomovein flat worth rs 75 lakh the change in registry fee will definitely put the burden on the middleclass looking to buy a flatmanoj gaur national vicepresident of developers body credai said the projects in ncr are already dwindling and there are not many takers and in this backdrop the governments move that increases the price of a flat is definitely not a good one it will further dampen sentiments instead efforts should be made to improve the situation in the real estate sectorthe move will also have a bearing in housing schemes by the ghaziabad development authority gda and other agencies such as the up housing boardthere are about 62 commercial properties worth rs 400 crore and about 4000 flats of the same worth which the gda is struggling to dispose of as there are very few takers for the same said alok kumar member of the federation of apartment owners association fed aoa