The Noida Authority has whispered that it has given an in-principle nod, for the conversion of land from leasehold to freehold and a proposal for the same would be sent to the UP government
“The proposal was brought for discussion in the meeting and the board gave an in-principle nod, for converting the land holding rights to freehold. The Authority’s chief executive officer and chairman, Alok Tandon, has been authorised by the board, to now send the proposal to the state government for its approval,” In Noida, plots or flats are sold on leasehold basis instead of freehold basis.
In leasehold, a plot or flat is owned by the purchaser for 99 years. The buyer has to pay a certain amount of lease rent for the property. In freehold property, no lease rent is required to be paid by a buyer.
The board also approved a proposal for the e-auction of residential plots, which were left out during the initial allotment. The new scheme would be published this month, according to an official statement. It also allowed construction of stilt parking in residential areas, where the plot size is less than 125 sq metres, the statement said. Earlier, this facility was available only for single plots over 125 sq meters.
In cases of acquisition of farm land, the authority is liable to provide its owners with five per cent developed land in a populated area. Due to non-availability of land with the Authority, it was proposed to the board that the farm land owners be given monetary compensation, at the rate of Rs 22,000 per sq metre (in compliance with a Supreme Court order) instead of the five per cent developed land, a proposal that was accepted by the board. The board also gave its approval for creating a large multi-purpose area, designated for various social functions including weddings at Sector 151A.
Courtesy/By: Shubham Mathur
|
06 Nov 2018
