After massive protests, Noida Authority says decision on free-holding of property rights soon

[] The Noida Authority has agreed to consider making residential property freehold, after thousands of people came out on streets to protest against its policies, on October 4, 2018

After protests by residents’ welfare associations, the Noida Entrepreneurs Association (NEA) and more than a dozen other groups, which saw thousands of people coming out on the city’s roads, on October 4, 2018, the Noida Authority said that it will consider making residential property freehold, while also agreeing to remove parking lots outside industrial units up to a size of 1,800 sq metres. The protesters marched from Sandeep Paper Mill square to the Noida Authority office in Sector 6, where the chiefs of the participating organisations addressed the protesters.

You are reading: After massive protests, Noida Authority says decision on free-holding of property rights soon

In Noida, plots or flats are sold on lease, instead of freehold basis. Under the lease system, a plot or flat is owned by the buyer for 99 years and the buyer has to pay a certain amount for the property, whereas, for properties with freehold rights, no lease rent is required to be paid by a buyer. NEA president Vipin Malhan and Federations of Noida RWA (FONRWA) president NP Singh, were among those present at the protest. Sharma, the minister of state for culture and tourism and civil aviation, said the situation had arisen as the Noida Authority did not ‘develop the city in an organised manner’, according to a statement by NEA.

Read also : Women brokers: Rising stars

[] Housing Ministry moots ‘Stress Funds’, to complete stalled housing projects in Noida, Greater Noida

“We have talked to the UP government, to remove parking mafia and make properties freehold in Noida. The governments in the state and at the centre have a very positive approach, support all classes of people and agree to all reasonable demands of citizens,” he was quoted as saying in the statement. He asked Noida Authority CEO Alok Tandon, to send a proposal for free-holding of plots to its board and within 30 days, a delegation led by the NEA would meet the state government over the issue.

NEA chief Malhan said, “Freehold property and free parking are our rights. We will not tolerate any parking mafia because of whom our factory employees, buyers and suppliers are facing problems.” FONRWA president Singh said, “Since 2006, we are asking for freehold property. We held talks with chief minister Yogi Adityanath but nothing has been done yet.” After the protest, Tandon and other senior officials of the Authority held a meeting with office-bearers of NEA, FONRWA and other associations and decided that parking lots would be done away with and the issue of free-holding of property rights, will be taken up during the board meeting due on October 10, 2018.

Read also : Mumbai DCPR 2034: Can it solve Mumbai’s real estate problems?

“They were told that consultancy firm Ernst and Young is preparing a proposal, to make residential properties freehold. After a review, the proposal would be presented during the Authority’s board meeting and then, presented to the government,” the Authority said in a statement. On the parking issue, it has been decided that the ‘parking system would be discontinued on the land next to the boundary of industrial units, which are spread up to a size of 1,800 sq metres’, the statement stated.

There are about 8,500 industrial units in Noida, which are functional now. Most of them are medium-scale and small-scale, according to an NEA official. “The decision on parking system, which is likely to get implemented in a couple of days, would provide relief to the employees of 90 per cent industrial units and factories in Noida,” NEA media in-charge, Sudhir Shrivastava said.

Copyright belongs to:

Category: Lifestyle

Debora Berti

Università degli Studi di Firenze, IT

Leave a Reply

Your email address will not be published.

Back to top button