As the time of decision on free-holding of properties in Noida and Greater Noida of Uttar Pradesh is approaching, this demand from the people of the area is gaining momentum. The people of the area are hopeful that the Uttar Pradesh government will definitely take some positive decision on this age-old demand of theirs in the election environment. Home owners as well as developers of the area are in favor of free-holding the property.
In fact, the Allahabad High Court, in the hearing on this issue on September 9, had asked the state government to decide in a month. The Confederation of NCR Residents Welfare Association i.e. CONRWA had filed a public interest litigation seeking freehold of leasehold property in Noida. While hearing this petition, the High Court had said that the state government should tell by October 9 what decision it is going to take. Later, during the hearing held on September 14, the state government sought some more time and said that the proposal was being considered seriously. At present, a concrete decision is expected to be taken in this matter by mid-October. Mahagun Marina Walk
Demand to free-hold property stuck for ten years
The demand for free hold property in Noida has been stuck for the last ten years. The Federation of Noida Residents Welfare Association ie FONRWA has taken the approval of the Noida Authority Board on holding the property free. The board had given its consent for this first in 2018 and then in 2020. But the state government did not allow it. Residents of Noida say that there has been a demand to hold the property free for a long time, but the state government is hanging on to the matter.
Property free-hold in Delhi, why not here?’
Sujit Pandey, Secretary of CONRWA and President of Noida Express-view Apartments Sector-93 Resident Welfare Association, says that apart from Noida, property is free-hold in the entire NCR including Delhi, then why are people being denied it here. After all, what will the property owner’s children get after 90 years? An argument often made against having free-hold property is that it can create parking problems, but this is a shoddy argument. It would be good that the government approves the decision to free-hold the property of Noida at the earliest. After all, why shouldn’t people have a right to their blood and sweat earnings forever?
The general opinion of home buyers in Noida-Greater Noida is that having a property freehold will benefit all those who have bought a house here or want to buy it in the coming days. Not only this, it will also be easy for those people who want to sell their property in Noida. Ronnie Dutta, president of the Apartment Owners Association of Noida’s Sector 119 housing society Eldeco Amantran, says that if the government decides to free-hold the property, the home owners of the area will warmly welcome it Samridhi Daksh Avenue.
Real estate companies are also supporting free-hold
Rakesh Yadav, CMD of Antriksh India Group, one of the leading property developers of Noida, says that people will get three big benefits by holding the property free. The first advantage is that the home buyers will get rid of the process of getting the transfer done to sell the property, for which they have to visit the authority for several days. The other advantage associated with this is that they will also get relief from paying transfer charges. The third and most important advantage is the ownership of the property. Due to which the owner will be able to easily sell his property to third parties. According to Rakesh Yadav, the value of the property also increases when there is a free hold, which can be beneficial to the sellers of the property.
B.A. associated with the business of real estate in Noida. Bhupinder Singh Kalakoti, owner of Enterprises, says that there may be some loss in terms of revenue to the authority and the state government if Noida property is free-hold. But if the government wants, it can compensate for this by taking a one-time free-hold fee. Actually, in the lease hold system, the government has control over the sale and transfer of the property. Every time the property is transferred, the authority levies a transfer charge in addition to the registration charge and stamp duty. Under the existing policy, old properties in Noida are given on lease for 99 years, while new properties are being given on lease for 90 years. Those raising the demand for free-holding of property in Noida-Greater Noida, argue that when the free-hold policy is in force in all areas of UP, including neighboring Ghaziabad, TATA Eureka Park
