Transfer of property in relations to be charged: Noida Authority

By Accommodation Times Bureau

Recently under consideration by the Noida Authority any transfer of properties even in case of blood relations would require allot tees to pay transfer charges. As per the proposal raised up by the UP stamp and registration department any change in allotment of properties should be allowed only after execution of lease deeds. As per the stamp department the practice to transfer the allotments to blood relatives before the execution of lease deeds.

The residents however have demanded the state govt. to refrain from implementation of such proposal.  One of the Stamp department officials said,’’ at present allot tees are free to transfer properties to blood relation by paying a marginal sum as processing fees. The proposal has been drafted to make registration of all immovable properties compulsory once it has been allotted. Any further transfer would require fresh registration and payments of stamp duties. The Noida Authority has agreed to the proposal and has start working on it. However the residents are miffed with the decision that they are being forced to pay the transfer charges.

The policy when approved will be applicable to all categories of allotted be it residential, commercial or industrial sectors. Though the RWAs have strongly opposed the proposal and have demanded from the authority not to make any such changes.

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