Noida: The board meeting of the Noida Authority is expected to be held on September 24. The authority is considering bringing down the property. Transfer Allegation in the meeting, learned TOI.
Though officials say they have been asked to get ready for the meeting next week, they are yet to get the final approval from the authority chair. Sanjeev Mittal. The Noida chairman, who is also UP’s infrastructure and industrial development commissioner, is heading the special investigation team probing the Supertech Emerald Court case and is yet to submit his report to the government.
In the board meeting, the authority can reduce the asset transfer fee. Businessmen, RWAs and flat owners are petitioning the government to highlight the speedy transfer charge They have to pay to the authority at the time of selling their property.
In June this year, the Greater Noida Authority reduced transfer charges on properties, encouraging secondary market realty transactions in the city. However, Noida is yet to rationalize the allegations.
Presently, institutional and commercial plot owners have to pay 10% of the prevailing land premium as transfer fee. According to sources, the authority is considering reducing it to 5 per cent.
Similarly, for transfer of non-functional industrial plots, an allottee has to pay 10% to the authority, while for operational ones, the fee is 8%. The authority can reduce the fee for the two categories by 50% and reduce it to 5% and 4% respectively.
For flats and apartments, the authority is charging in the range of Rs 720 per sqm to 1,980 sqm as per the prevailing land premium of the area. Transfer charges for flats will have to be fixed. Residential plot owners, shop and kiosk owners are paying 5% as transfer fee to the authority while selling their units to new buyers. The fee for such allottees may be reduced to 2.5%.
“The state government will continue to generate revenue from stamp duty as the number of transactions will increase,” said Rajesh Sahai, general secretary of Noida Federation of AOA.
Meanwhile, the Chief Minister is also expected to visit Dadri on September 22 and the district administration as well as development officers are ready for his visit.
Though officials say they have been asked to get ready for the meeting next week, they are yet to get the final approval from the authority chair. Sanjeev Mittal. The Noida chairman, who is also UP’s infrastructure and industrial development commissioner, is heading the special investigation team probing the Supertech Emerald Court case and is yet to submit his report to the government.
In the board meeting, the authority can reduce the asset transfer fee. Businessmen, RWAs and flat owners are petitioning the government to highlight the speedy transfer charge They have to pay to the authority at the time of selling their property.
In June this year, the Greater Noida Authority reduced transfer charges on properties, encouraging secondary market realty transactions in the city. However, Noida is yet to rationalize the allegations.
Presently, institutional and commercial plot owners have to pay 10% of the prevailing land premium as transfer fee. According to sources, the authority is considering reducing it to 5 per cent.
Similarly, for transfer of non-functional industrial plots, an allottee has to pay 10% to the authority, while for operational ones, the fee is 8%. The authority can reduce the fee for the two categories by 50% and reduce it to 5% and 4% respectively.
For flats and apartments, the authority is charging in the range of Rs 720 per sqm to 1,980 sqm as per the prevailing land premium of the area. Transfer charges for flats will have to be fixed. Residential plot owners, shop and kiosk owners are paying 5% as transfer fee to the authority while selling their units to new buyers. The fee for such allottees may be reduced to 2.5%.
“The state government will continue to generate revenue from stamp duty as the number of transactions will increase,” said Rajesh Sahai, general secretary of Noida Federation of AOA.
Meanwhile, the Chief Minister is also expected to visit Dadri on September 22 and the district administration as well as development officers are ready for his visit.
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