Prop Zone

                          Charges for transferring property to heirs opposed

NOIDA: Residents have demanded that the state government refrain from implementing a proposal, currently under consideration by the Noida Authority, which would require property allottees to pay ‘transfer charges’ even in cases when they transfer it to their blood relations.

As per the proposal made by the UP department of stamps and registration to Noida Authority, any change in allotment of properties should be allowed only after execution of lease deeds. As per the stamp department, the practice in vogue now allows for allottees of properties to transfer their allotments to blood relatives before the execution of lease deeds.

“At present, allottees are free to transfer properties to blood relations by paying a marginal sum of Rs 1,000 as processing fees during the time period between allotment and signing of lease deeds,” said DIG (Stamps), VD Sharma. “The proposal has been made to make registration of all immovable properties compulsory once it has been allotted. Any further transfers would require fresh registration and payment of stamp duties,” he added.

Stamp department officials said that Noida Authority has agreed to the proposal and is working upon implementing it soon. However, residents and industries are miffed over the fact that they would be forced to pay in terms of transfer charges for passing on properties to their natural heirs. Federation of Noida Industries has written to the state government not to allow implementation of the proposal.

The policy, if implemented, would be applicable to all categories of allottees, including residential, commercial and industrial sectors. RWAs have opposed the proposal and demanded that Noida Authority not make any changes to the existing system involving transfer of properties to blood relations. “It is an extremely sensitive issue for residents. The Authority should not implement the proposal before holding proper discussions with RWAs,” said Suresh Tiwari, secretary general of Federation of Noida RWAs.