Curation Team
NOIDA: The Confederation of NCR Residents Welfare Associations (CONRWA) has written to the Noida Authority CEO over converting leasehold properties to freehold.
The residents’ body claimed the Noida Authority gave an in-principle approval to change the city’s residential land from leasehold to freehold in its 195th board meeting on November 1, 2018. Since then the matter was pending with the state government.
Currently, all plots and flats in Noida are sold on a 99-year lease. Residents have been for long demanding freehold rights of their properties under the UP Industrial Act 1976. The RWA body also plans to meet Manoj Kumar Singh, chairman of Noida and Greater Noida Industrial Development Authority and commissioner of the Infrastructure and Industrial Development Department (IIDD).
In 2018, the Noida Authority in its 195th board meeting under the chairmanship of then-chief executive officer (CEO), Alok Tandon, gave in-principle approval for converting Noida properties from leasehold to freehold. “A committee was formed under the chairmanship of then ACEO on October 10, 2018, based on which, Tandon sent the recommendation to the state government on November 26, 2018. And since then, there’s been no movement on the matter. We wonder why it’s taking so long?” said PS Jain, president of CONRWA.
The committee had discussed in detail the possible pros and cons of freehold properties and voted in favour of it, citing that a “short-term fund” can be created by converting residential plots and flats to freehold, which can be used to create a source of recurring income. The successive CEOs of the Authority have maintained the matter is with the state government for approval.
