Noida: Offering great assistance to Lakh residents, the Noida Authority Council on Friday reduced property transfer fees.
Housing plot owners and flats buyers enter the secondary market must pay 2.5% as a cost now, not 5%.
Similarly, the transfer of costs for other categories – commercial, industrial and institutions – has also been revised.
Infrastructure and Industry Development Department Uttar Pradesh Government has requested three industrial development authorities in Noida and Greater Noida to standardize their policies.
The Autoity of the Big Noia Industry Development (Gnida) has lowered interest rates in June.
The Chairperson of the Noida Sanjeev Mittal authority, who led the council meeting, said, “the revision of the transfer of transfers is a very important development for the population.
Some groups and associations of residents have raised demand and requesting authority to reduce the transfer fee.” Deputy Inspector General Stamps and Registration Department, Rakesh Kumar Srivastava said, “The decision of the authority has been taken at the right time.
This will increase sentiment in the property market just before the festival season.” The residents group also welcomed the decision.
President of the Association of Apartment Owners of Prateek Wisteria in Sector 77, Amit Gupta, said, “Reducing the transfer of memorandum charges will help many people who want to buy or sell their property.
But the authority must also work on stranded buyers who cannot execute their registry, especially Trapped in sports cities.
“Likewise, the transfer of institutional property has been reduced from 10% to 5%.
People who buy commercial property must pay 5% for the plot while those who buy kiosks and stores will come out 2.5%.
Other major decisions of the Authority Board also take several other important decisions.
All good people have been given an extra six-month extension to secure the settlement certificate according to their rental conditions without paying additional fees to find extra time.
The executive who works that must be back and forth to Delhi can also look forward to the highway completion of the Chilla which is on time.
The work on the road which was elevated must be stopped in December last year because the state government had not released a section of funds for the project.
Assigned to Rs 605 Crore, Noida Authority and Uttar Pradesh PWD must share costs evenly.
However, the government has not made provisions to release funds to the PWD department.
Authority officials will continue the project and start construction work until the cat runs out and will follow up with the government to get money.
The authority also received approval from the council to continue and install the anti-fog tower in the 16A sector along with Bhel.