NOIDA: Noida Authority is drafting a policy that will allow registries for residential plots and flats transferred through multiple general powers of attorney (GPAs).
The proposed policy, officials said, aims to not only legitimise property ownership but also recover revenue that the Authority and state govt lost over the years in the absence of any such rule.
At a board meeting on Thursday, Authority officials said the policy would potentially bring an end to legal uncertainties that have plagued property owners for years.
“We will submit our proposal to the govt soon. The implementation of this policy could mark a significant milestone in Noida’s property administration and management system,” an official said.
The scale of the problem is significant. According to a recent report by the Air Force Naval Housing Board, there are some 730 GPA-based properties in sectors 21 and 25 of Jalvayu Vihar. Of these, around 200 properties involve multiple GPAs.
Officials believe such cases could go up to a few thousands across the city.
Noida Authority CEO Lokesh M acknowledged the urgency to come out with a policy.
“The issue of multiple GPAs is significant and needs to be addressed urgently. We will soon submit our proposed policy for consideration to the govt,” he told TOI.
On Dec 30 last year, chief secretary Manoj Kumar Singh had asked the Authority to prepare a detailed report on new transfer rates — a move that could significantly feed its coffers.
Current regulations only recognise transfers by first GPA holders, with fees ranging from 2.5% to 5%, depending on the transfer type. However, the absence of provisions for subsequent GPAs has left numerous properties in legal limbo.
As of now, general transfers made directly by the original allottee require a fee of 2.5% of the prevailing rate. But if a GPA holder transfers the property to a blood relative, the fee is 3.75% of the prevailing rate. Transfers by the GPA holder to a third party incur a fee of 5%.
The new proposal is a follow-up on a 2003 govt order that also addressed multiple GPA transfers. The old order involved a process for verifying actual occupants, handling objections raised by them, and transferring ownership rights after payment of fees and stamp duty.
The fee structure was progressive, with the first attorneys paying 30% of the property price, second attorneys 60%, and third 90%. But these excluded transfer fees and stamp duty.
While the 2003 policy successfully transferred around 600 properties, subsequent attempts to develop a comprehensive solution stalled.
The policy — which allowed transfers only till March 31, 2003 — was given multiple extensions because of public demand.
It was initially extended till June 30, 2003, and then to Aug 18, 2004, which allowed transfers from July 1, 2003, to Dec 31, 2004. Another extension was granted on Sept 14, 2006, permitting transfers for an additional six months. During this period, 600 properties were transferred in total.
But successive efforts to develop a comprehensive policy failed. Meetings were held in 2008, 2014 and 2017, but they failed to produce concrete results — leaving many families without legal ownership rights.
Under the proposed policy, the fees for first transfers remain unchanged — ranging from 2.5% to 5% of the property rate. The proposal, however, introduces higher fees for subsequent GPA transfers.
For instance, transfers by the second GPA holder will attract a fee of 10% of the prevailing rate, while those by the third GPA holder will incur 15%. For transfers beyond this, an incremental fee of 5% per transfer would apply.
“This comprehensive policy aims to provide legal clarity for property holders and create a transparent mechanism for resolving ownership disputes. Plus, it will generate enough revenue through transfer fees and increase stamp duty collections for the govt,” an official said.
The success of this initiative would not just resolve long-standing property disputes but also provide security to hundreds of families.
Source Homevior.in
