Noida Authority is preparing a new policy to simplify property registration in Noida, especially for residential plots and flats transferred through multiple general powers of attorney (GPAs).
This policy aims to ensure legal ownership for property holders while recovering lost revenue for the Noida Authority and the state government. The proposed changes could also resolve years of legal uncertainty for many property owners.
Why This Policy is Important
Officials revealed at a recent board meeting that the new policy could bring much-needed clarity to property registration in Noida. It addresses a problem that has affected thousands of properties across the city.
For instance, a report by the Air Force Naval Housing Board highlights that in sectors 21 and 25 of Jalvayu Vihar, there are 730 properties registered under GPAs, and around 200 of these involve multiple GPAs. Across Noida, the number could be much higher.
Steps Towards Implementation
Noida Authority CEO Lokesh M stressed the urgency of this policy. “The issue of multiple GPAs is significant and needs to be addressed urgently,” he said. The Authority plans to submit its proposal to the government soon.
Last December, Chief Secretary Manoj Kumar Singh directed the Authority to review transfer rates. This move could help increase revenue for Noida’s administration while providing a clear path for property registration in Noida.
Current Rules and Challenges
Under current regulations, only the first GPA holder is allowed to transfer a property. Fees for these transfers range from 2.5% to 5% of the property value, depending on the type of transfer.
- General transfers by the original allottee: 2.5% of the prevailing rate.
- Transfers to blood relatives by GPA holders: 3.75%.
- Transfers to third parties by GPA holders: 5%.
These rules do not account for subsequent GPA transfers, leaving many properties in legal limbo.
Learning from the 2003 Policy
The last major effort to address GPA transfers was a 2003 government order. It allowed multiple GPA transfers and set a fee structure for first, second, and third attorneys. However, this policy had limitations:
- First attorneys paid 30% of the property price.
- Second attorneys paid 60%.
- Third attorneys paid 90%.
Despite its success in transferring 600 properties, the policy expired in 2004, leaving no long-term solution for future cases.
New Policy Proposal
The new policy proposes a more structured fee system for GPA transfers to make property registration in Noida easier:
- First transfers: Fees remain at 2.5% to 5%.
- Second GPA transfers: 10% of the property rate.
- Third GPA transfers: 15% of the property rate.
- Additional transfers: An incremental 5% per transfer.
This approach aims to resolve ownership disputes, offer legal clarity, and generate additional revenue through transfer fees and stamp duties.
Benefits for Property Owners
Once implemented, this policy is expected to:
- Resolve long-standing disputes related to property registration in Noida.
- Provide legal security for families who have held properties under uncertain conditions.
- Create a transparent process for handling ownership transfers.
- Boost government revenue by increasing transfer fee collections.
Conclusion
The new policy on property registration in Noida promises to be a game-changer for property administration. It will not only simplify the process but also ensure legal clarity for property holders while increasing revenue for the government.
For families dealing with legal uncertainties, this policy could bring much-needed relief and stability. Stay tuned for updates as the Noida Authority finalizes its proposal.
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