Noida: The Noida Authority Board meeting is expected to take place on September 24.
This authority is considering reducing property transfer costs at the meeting, TOI has learned.
Although officials said they had been asked to get ready to hold a meeting next week, they had not received the final forward of the Chairman of the Sanjeev Mittal authority.
The Chairperson of Noida, also infrastructure infrastructure and industrial commissioners, is heading for a special investigation team that investigates the Emerald Supertech court case and has not submitted its report to the government.
On the council meet, the authority can reduce property transfer fees.
Entrepreneurs, Rwas and flat owners have submitted a petition to the government to highlight the allegations of steep transfers, they must pay authority while selling their property.
In June this year, the larger Noida authorities lowered the transfer fee on the property, thus encouraging a secondary realty market transaction in the city.
However, Noida has not rationalized charges.
The owner of the institutional and commercial plot, at present, must pay 10% of land premiums that apply as a transfer fee.
Authority is considering lowering it to 5%, according to the source.
Likewise, for the transfer of non-functional industrial plots, allottee must pay 10% to the temporary authority for operational, costs are 8%.
Authority can reduce costs by 50% for two categories and reduce each up to 5% and 4% respectively.
For apartments and apartments, the authority is filling in the range of Rs 720 per SQM to Rs 1,980 square meters according to the land premium prevailing in this sector.
Flat transfer fees must be decided.
Housing plot owners, shop owners and kiosks pay 5% as a transfer fee to the authority when selling their units to new buyers.
The cost for everyone can be reduced to 2.5%.
Secretary General of Federation Noida Aoa, Rajesh Sahay said, “The state government will continue to generate revenue from stamp duty because the number of transactions will rise.” Meanwhile, the minister’s chairman was also expected to visit Dadri on September 22 and the district administration and the development authority prepared for his visit.
On the next board meet, noida can cut the property transfer fee
