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The Noida Authority is formulating a policy that would allow registries for residential plots and flats transferred through multiple general powers of attorney (GPAs). The policy aims to legitimise property ownership, recover lost revenue, and resolve long-standing legal issues. The policy could address the uncertainties around property ownership that have affected thousands of residents, particularly in sectors like Jalvayu Vihar. With an updated fee structure for subsequent GPA transfers, the initiative seeks to create a transparent system while boosting government revenue through stamp duty and transfer fees.
The Noida Authority is drafting a policy that will allow registries for residential plots and flats that have been transferred through multiple general powers of attorney (GPAs). The aim of the proposed policy is not only to legitimise property ownership but also to recover revenue that the Authority and the state government have lost over the years due to the absence of any such rule. Advertisement
During a board meeting last week, Authority officials discussed the policy, stating that it could bring an end to the legal uncertainties surrounding property ownership that have affected residents for years. They confirmed that the proposal would soon be submitted to the government, marking a significant milestone for Noida's property administration system.
The extent of the problem is considerable. A recent report by the Air Force Naval Housing Board showed that there are approximately 730 GPA-based properties in sectors 21 and 25 of Jalvayu Vihar, with around 200 of them involving multiple GPAs. Officials believe that the number of such cases could extend to a few thousand across the city.
Noida Authority CEO, Lokesh M, acknowledged the urgent need to resolve the issue of multiple GPAs and confirmed that the policy proposal would soon be submitted for government consideration. Earlier, the chief secretary had directed the Authority to prepare a detailed report on new transfer rates, which could substantially contribute to the Authority's revenue.
Under the current regulations, only transfers by the first GPA holder are recognised, with fees ranging between 2.5% and 5%, depending on the transfer type. However, the absence of provisions for subsequent GPA transfers has left many properties in a legal limbo. The new policy proposal would address this issue by introducing higher fees for transfers by subsequent GPA holders.
This new policy is a follow-up to a 2003 government order, which sought to address multiple GPA transfers. Although the old order successfully transferred around 600 properties, attempts to develop a comprehensive solution stalled. The policy faced multiple extensions due to public demand but failed to resolve the issue permanently.
The revised policy proposes an unchanged fee structure for first transfers (ranging from 2.5% to 5% of the prevailing property rate). However, for subsequent transfers by second and third GPA holders, fees will rise to 10% and 15%, respectively, with an incremental fee of 5% for each subsequent transfer. The aim is to create a more transparent mechanism for property transfers, generate revenue through increased fees, and resolve ownership disputes effectively.
According to officials, the policy is designed to offer legal clarity for property holders while generating sufficient revenue through transfer fees and stamp duty collections. If successfully implemented, the policy could bring much-needed legal security to thousands of property owners, benefiting both residents and the administration in the long term.
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