Noida Authority officials said on Thursday that the body will take a final decision on whether the residential properties in the city will remain leasehold or be allowed to become freehold, on October 25 when its next board meeting is scheduled.
For long the residents have been demanding conversion of leasehold properties to freehold. Last month, Noida Authority CEO Alok Tandon had assured residents of a decision on the issue soon.
The allotment of residential plots in Noida is done on leasehold basis. The lease stands for a period of 90 years and not forever. Moreover, the government has control over the sale or transfer of a leasehold property. However, under the freehold system, an allottee has outright ownership of the property.
NP Singh, president of Noida RWAs umbrella body FONRWA, said residents have been demanding freehold property in the city for a long time. “There are stringent conditions which restrain property holders from undertaking further constructions on the site. The property holder can’t equally divide the plot even for their own sons,” he said.
Singh said that FONRWA also demands its representation in Noida Authority board meeting. “We do not know about the discussions and deliberations in Noida Authority. Officials take unilateral decisions which directly affect residents. We demand membership for at least two from FONRWA and two from Noida Entrepreneurship Association on the board,” he added.
Last month, residents and businessmen had protested outside Noida Authority’s office, demanding freehold property and also waving off the parking charges outside industrial units. Parking charges on spaces outside the industrial units measuring up to 1800 square metre has already been waived off.
However, converting leasehold property to freehold will have a greater impact on Noida Authority’s exchequer. Authority officials said they have formed a committee that will discuss the issue in details on Friday.
Noida’s urban area is on 15,280 hectares of land acquired from over 80 villages. The city has a population of 16 lakh.