Noida Authority to take decision on free-holding property rights
Img : hindustantimes

The Noida Authority is seeking feedback from the residents and RWAs [Residents Welfare Association] on the proposal for floor-wise registry of plotted houses.

The Authority has already given its nod for in-principle to converse all leasehold property of the city into freehold. The proposal for the same is forwarded to the RWAs and the property owners of plotted and independent houses in Noida will become eligible to get floor-wise registration of their homes.

They will also be able to sell and transfer the same within the family or to a third party.

A.N. Dhawan, the Secretary-General of Federation of Noida Residents Welfare Associations [FONRWA] said that we have received a letter from the Noida Authority to seek feedback and suggestions from RWAs and residents regarding the floor-wise registry of properties. In regards with the same we have sent that letter to all sector RWAs, and following them for the receipt as we have to submit all the response in the form of a consolidated feedback to the Authority within 15 days.

“According to the sources, the Noida Authority sought objections/suggestions from the residents on floor-wise registry of property. The proposal will be then sent to the Uttar Pradesh State Government soon after receiving the feedback.

Tere are nearly 30,000 residential plots in Noida that range between 40 sq. m. and 500 sq. m. The Noida Authority is expecting to generate more revenue from this conversion move. Also, it will impact the real estate sector with more private players coming in to develop township projects.