27 Yrs On, Registry Of Flats Set To Resume In This Society, ET RealEstate

September 23, 2024
1 min read
27 Yrs On, Registry Of Flats Set To Resume In This Society, ET RealEstate


<p>Representative image </p>
Representative image

NOIDA: Greater Noida Industrial Development Authority (GNIDA) has come out with a new policy that will allow registry of flats at Senior Citizen Home Complex Welfare Society after almost three decades.

All these years, residents of the society lived without formal ownership rights as sub-lease deeds were hindered by various disputes. The Authority will now go through a list of current occupants submitted by the society’s authorised representatives and issue NOCs after they file affidavits.

It was on Sept 3, 1996, that 15 acres were allotted for the society. Although physical possession was given in 1997, persistent legal and administrative delays prevented the execution of tripartite sub-lease deeds for members. As a result, many residents did not get legal ownership of their houses.

Over the years, many of the original allottees sold their flats to new buyers although sub-lease deeds were not executed.

According to the new guidelines, representatives of the society must submit a certificate or affidavit, along with a list of current occupants, to GNIDA. This document should confirm that the listed occupants currently possess the allotted flats, and that sub-lease deeds have not yet been executed in their favour.

GNIDA will then issue NOCs, allowing for the execution of sub-lease deeds. Additionally, the society will have to provide complete documentation on the transfer of ownership from the original allottees to the current occupants.

The current occupants must submit an affidavit and an indemnity bond, agreeing to assume full responsibility should there be any dispute with the original allottees or their heirs regarding ownership rights.

“The decision marks a significant step in resolving long-standing issues faced by the residents, who have been waiting for decades to secure legal ownership of their houses. We believe this policy will bring much-needed relief to the homeowners,” a GNID official said.

The official clarified that this policy was exclusive to the Senior Citizen Home Complex Welfare Society and would not apply to other group housing projects.

The society has 845 flats, of which only 188 flats are registered.

  • Published On Sep 23, 2024 at 12:00 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRealty App

  • Get Realtime updates
  • Save your favourite articles


Scan to download App
realty barcode



Source link

curationteam

Curation Team will curate content from different sources and present for you. We will not edit any content. Source link is provided for the source from where its received .

Leave a Reply

Your email address will not be published.

Pmc Clueless About Demerger Formalities For Uruli, Phursungi, ET RealEstate
Previous Story

Pmc Clueless About Demerger Formalities For Uruli, Phursungi, ET RealEstate

Realty Firm Told To Refund Rs12 Cr Paid By 39 For Flats In Ameenpur, ET RealEstate
Next Story

Realty Firm Told To Refund Rs12 Cr Paid By 39 For Flats In Ameenpur, ET RealEstate

Latest from Blog