Locals want government to free flats and plots from 99-year lease provision to make property transfers easy
Demanding freehold properties Noida's residents cry foul over 99-year lease provision. According to them, the problems started in 2000 when the Uttar Pradesh government was in a hurry to develop acres of land parcels in Noida and Greater Noida. To bring in more developers, the Noida land authorities decided to take an out of the box approach and started giving away land on a 99-year lease.
In Noida, plots or flats are sold on leasehold basis instead of freehold basis. In leasehold, a plot or flat is owned by the purchaser for 99 years. The buyer has to pay a certain amount of lease rent for the property. Whereas in freehold property, no lease rent is required to be paid by a buyer.
According to Vipin Mehra, a resident, currently, if one wants to divide their property among their heirs, they face legal issues since the properties are on leasehold. Once they are converted to freehold, then they can transfer floor-wise property title to each person.
"We request it to be allowed at the earliest as floor-wise registry will benefit property owners immensely as they will be able to transfer their properties to blood relatives without seeking approval or paying money to the authority," said Mehra.
Varun Bhatia said if he purchases a property right now so after 99 years once the lease period is over the authority can throw their kids out of the house. At present, one cannot get a complete plotted house registered since properties are on leasehold.
"This means with this lease scheme, the property which we purchased is actually not ours. If the freehold of property rule is not passed then the future of our upcoming generation is unsafe," said Bhatia.
On the parking issue, after a well thought out discussion with the organisations 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. While, Ashish Mukharjee said that freehold property and free parking are our rights. The authority had also a couple of months ago started giving the space outside industrial units and factories for "authorised parking" controlled by contractors who would charge Rs 10 per hour for two wheelers and Rs 20 per hour to four wheelers.
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"We request it to be allowed at the earliest as floor-wise registry will benefit property owners immensely as they will be able to transfer their properties to blood relatives without seeking approval or paying money to the authority," said Mehra.
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