Housing plots to become free-hold status
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Harpreet Singh Guller
Jun 11, 2012, 11:02:20 PM6/11/12
to YEIDA
Housing plots to become free-hold status
Jun 12, 2012, 04.24AM IST
LUCKNOW: In a welcome move for home owners in the state, the Uttar
Pradesh State Industrial Development Corporation on Monday decided to
frame a policy to grant a free-hold status to all housing plots across
the state. The decision was taken at a meeting of the UPSIDC board on
Monday, where it was decided to frame a policy and fix tariffs for
converting lease-hold plots to free-hold.
* Complete article on YERWA GOOGLE GROUP. Please visit www.yerwa.in to
register as member and gain access to YERWA Google Group
Jun 12, 2012, 04.24AM IST
LUCKNOW: In a welcome move for home owners in the state, the Uttar
Pradesh State Industrial Development Corporation on Monday decided to
frame a policy to grant a free-hold status to all housing plots across
the state. The decision was taken at a meeting of the UPSIDC board on
Monday, where it was decided to frame a policy and fix tariffs for
converting lease-hold plots to free-hold.
* Complete article on YERWA GOOGLE GROUP. Please visit www.yerwa.in to
register as member and gain access to YERWA Google Group
Amit
Jun 11, 2012, 11:26:10 PM6/11/12
to ye...@googlegroups.com
LUCKNOW: In a welcome move for home owners in the state, the Uttar Pradesh State Industrial Development Corporation on Monday decided to frame a policy to grant afree-hold status to all housing plots across the state. The decision was taken at a meeting of the UPSIDC board on Monday, where it was decided to frame a policy and fix tariffs for converting lease-hold plots to free-hold.
Speaking to TOI, Managing Director, UPSIDC, Manoj Kumar Singh, said both the policy and the rates for conversion will be fixed within a fortnight.
Though Monday's decision to work out a concerted free-hold policy will help home owners across UP, the move will be especially beneficial for residents of Ghaziabad's Tronika City, being developed by UPSIDC and owners of housing plots in the group housing scheme in Greater Noida.
Earlier, the district authorities of Gautam Buddha Nagar, Greater Noida and Yamuna Expressway had deferred the state government's decision to convert the lands of industrial development authorities into freehold. This hadlead to mass scale resistance from the authorities who claimed the move would hamper their development and revenue generation.
Now, with a concerted free-hold policy in place, residents will be able to pay the respective development authorities a certain amount in order to convert the status of their housing plot from lease hold, where the authority is the owner of the land, to free-hold, where individual residents become owners of the plot.
The UPSIDC Board also, on Monday approved the construction of a 225 acre Plastic Park in Auraiya district of UP. The Government of India funded scheme will see a fund inflow of Rs 50 crore from the Centre and is expected to invite investments to the tune of Rs 200 crore.
The district administration, working in tandem with the All India Plastic Association will provide the land as equity and also facilitate the setting up of tool rooms, common facility centres and development zones. The running of the plastic park, however, will be handed over to a Special Purpose Vehicle floated for this purpose.
Singh said Auraiya, with a locational advantage of being close to the NTPC thermal power plant had the assurance of uninterrupted power supply. The project, once operational, he said, was expected to generate employment for nearly 25,000 people.
Hem Gupta
Jun 12, 2012, 12:20:27 AM6/12/12
to ye...@googlegroups.com
Yeida Plots are not developed by UPSIDC, hence this news will not have any direct impact on Yamuna plots except some rub off effect.
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Amit
Jun 12, 2012, 4:45:48 AM6/12/12
to YEIDA
I think i may have the direct affect on Noida , GN, and YEIDA as the
article states that it will be a "concerted free-hold policy" .
Also if UPSIDC follows certain policy then how can authorities of
Noida , GN, and YEIDA take another route.
Safal ji what are yor views regarding this please let us know.
article states that it will be a "concerted free-hold policy" .
Also if UPSIDC follows certain policy then how can authorities of
Noida , GN, and YEIDA take another route.
Safal ji what are yor views regarding this please let us know.
Safal Suri
Jun 12, 2012, 5:22:39 AM6/12/12
to ye...@googlegroups.com
Dear Amit,
UPSIDC is an Industrial Development Company virtually owned by UP
Government, where as NOIDA, GNIDA and YEIDA are authorities and technically
they have freedom to decide their own course.
Therefore, whatever UPSIDC decided is necessarily not applicable to
development authorities.
Regards,
Safal Suri
-----Original Message-----
From: Amit
Sent: Tuesday, June 12, 2012 2:15 PM
To: YEIDA
Subject: [YEIDA:22003] : Re: : Re: Housing plots to become free-hold status
I think i may have the direct affect on Noida , GN, and YEIDA as the
article states that it will be a "concerted free-hold policy". Also if
YEIDA take another route.
Safal ji what are yor views regarding this please let us know.
Safal ji what are yor views regarding this please let us know.
Harpreet Singh Guller
Jun 12, 2012, 1:39:12 PM6/12/12
to YEIDA
UP moves to make land freehold in industrial townships
In a step towards making land freehold in industrial townships, the
Uttar Pradesh State Industrial Development Corporation (UPSIDC) has
decided to make residential plots in two of its projects at Greater
Noida and Ghaziabad freehold. UPSIDC is industrial promotion and
infrastructure
development undertaking of the state government. Thousands of people
in Ghaziabad and about 1,000 in Greater Noida will benefit in this
exercise. The Ghaziabad Development Authority currently allots
residential plot on freehold basis, but the UPSIDC will make a fresh
beginning.
In Noida, Greater Noida and Yamuna Expressway areas, all land –
whether residential, commercial, industrial or institutional – is
allotted on lease. As a result, even flat buyers in Noida are not
owners of the properties for which they invest huge sums. Flats are
sub-leased by builders to them.
The state government has proposed allotment of land by all seven
industrial development authorities in Uttar Pradesh on freehold basis.
But the authorities are resisting the move. “Allotting land on lease
is our main source of revenue generation. Besides, this helps us
control use as well as transfer of land,” said a senior officer in
Noida.
In its board meeting held on Monday, the UPSIDC decided to frame a
policy to grant freehold status to housing plots and fix conversion
charges within a fortnight.
The two immediate beneficiaries are: allottees of residential plots in
Tronica City in Loni (Ghaziabad) and in Surajpur (Greater Noida).
UPSIDC regional manager Mayank Srivastava said, “At Surajpur, we have
sold residential and group housing plots. Around 1,000 allottees there
would benefit.”
“UPSIDC board has given its approval and it will be sent to the state
government for clearance before the plan can be introduced.
Our board will decide conversion charges,” said Srivastava. “For
future residential schemes if any we will give option of freehold
conversion at the time of allotment itself,” he said.
UPSIDC’s Tronica City has residential and industrial sectors. There
are 12 residential sectors. Several private developers are building
group housing projects.
“Once the freehold policy is implemented, all residential projects
here will benefit,” said Rakesh Jha, UPSIDC in-charge of Tronica City.
The two beneficiaries
Residential plots in Tronica City at Loni (Ghaziabad) and in Surajpur
(Greater Noida) will become freehold. At Surajpur, UPSIDC has sold
residential and group housing plots. Around 1,000 allottees there
would benefit. Tronica City has 12 residential sectors.
Several private developers are building group housing projects there.
The UPSIDC board on Monday decided to frame a policy to grant freehold
status.
Noida still under leasehold system
The three industrial townships in Noida, Greater Noida and Yamuna
Expressway are still under the leasehold system. The state government
has proposed allotment of land by these three authorities on freehold
basis, but they are resisting. Even flat buyers in Noida are not
owners of the properties for which they invest huge sums. Flats are
sub-leased by builders to them.
What is leasehold property
The authority allots plots or flats for a period of time, which is
usually 90 years. A nominal lease rent is charged annually. On expiry
of the lease period, the title shifts back to the authority, which is
original lessor. Thereafter the allottee once again has to renew the
lease for next 90 years, which almost amounts to re-buying the
property.
What is freehold property
The property is enjoyed by the purchaser forever and heirs can
continue to do so. They can sell, mortgage and deal with it in any
manner. There is no expiry period for such properties. Various state
agencies such as Awas Vikas Parishad and other development authorities
including the one in Ghazibad have introduced the freehold system long
back.
Advantages of freehold
Once land in Noida is freehold, it will ease the process of sale and
purchase. People will not need to obtain transfer of memorandum. They
will not have to seek mortgage permission from the authority while
taking bank loans. Freehold land has for long been a major demand in
Noida. RWAs have been demanding the conversion for more than a decade
now.
Why authorities are protesting
The infrastructure and industrial development department of the state
government has proposed allotment of land by all seven industrial
development authorities, including the two in Noida and Greater Noida,
on freehold basis. But the authorities are resisting the move.
Allotting land on lease is one major source of revenue. This helps the
authority control use as well as transfer of land.
On Jun 12, 2:22 pm, "Safal Suri" <safals...@gmail.com> wrote:
> Dear Amit,
>
> UPSIDC is an Industrial Development Company virtually owned by UP
> Government, where as NOIDA, GNIDA and YEIDA are authorities and technically
> they have freedom to decide their own course.
>
> Therefore, whatever UPSIDC decided is necessarily not applicable to
> development authorities.
>
> Regards,
>
> Safal Suri
>
>
>
>
>
>
>
> -----Original Message-----
> From: Amit
> Sent: Tuesday, June 12, 2012 2:15 PM
> To: YEIDA
> Subject: [YEIDA:22003] : Re: : Re: Housing plots to become free-hold status
>
> I think i may have the direct affect on Noida , GN, and YEIDA as the
> article states that it will be a "concerted free-hold policy". Also if
> UPSIDC follows certain policy then how can authorities of Noida, GN, and
> YEIDA take another route.
>
> Safal ji what are yor views regarding this please let us know.
>
> --
> You have received this message because you have subscribed to the Google
> "YEIDA" group.
>
> To visit this group, please click the linkhttp://groups.google.com/group/yeida
>
> Alternatively you may write to Safal Suri at safals...@gmail.com or speak on
> +91-9811182828
In a step towards making land freehold in industrial townships, the
Uttar Pradesh State Industrial Development Corporation (UPSIDC) has
decided to make residential plots in two of its projects at Greater
Noida and Ghaziabad freehold. UPSIDC is industrial promotion and
infrastructure
development undertaking of the state government. Thousands of people
in Ghaziabad and about 1,000 in Greater Noida will benefit in this
exercise. The Ghaziabad Development Authority currently allots
residential plot on freehold basis, but the UPSIDC will make a fresh
beginning.
In Noida, Greater Noida and Yamuna Expressway areas, all land –
whether residential, commercial, industrial or institutional – is
allotted on lease. As a result, even flat buyers in Noida are not
owners of the properties for which they invest huge sums. Flats are
sub-leased by builders to them.
The state government has proposed allotment of land by all seven
industrial development authorities in Uttar Pradesh on freehold basis.
But the authorities are resisting the move. “Allotting land on lease
is our main source of revenue generation. Besides, this helps us
control use as well as transfer of land,” said a senior officer in
Noida.
In its board meeting held on Monday, the UPSIDC decided to frame a
policy to grant freehold status to housing plots and fix conversion
charges within a fortnight.
The two immediate beneficiaries are: allottees of residential plots in
Tronica City in Loni (Ghaziabad) and in Surajpur (Greater Noida).
UPSIDC regional manager Mayank Srivastava said, “At Surajpur, we have
sold residential and group housing plots. Around 1,000 allottees there
would benefit.”
“UPSIDC board has given its approval and it will be sent to the state
government for clearance before the plan can be introduced.
Our board will decide conversion charges,” said Srivastava. “For
future residential schemes if any we will give option of freehold
conversion at the time of allotment itself,” he said.
UPSIDC’s Tronica City has residential and industrial sectors. There
are 12 residential sectors. Several private developers are building
group housing projects.
“Once the freehold policy is implemented, all residential projects
here will benefit,” said Rakesh Jha, UPSIDC in-charge of Tronica City.
The two beneficiaries
Residential plots in Tronica City at Loni (Ghaziabad) and in Surajpur
(Greater Noida) will become freehold. At Surajpur, UPSIDC has sold
residential and group housing plots. Around 1,000 allottees there
would benefit. Tronica City has 12 residential sectors.
Several private developers are building group housing projects there.
The UPSIDC board on Monday decided to frame a policy to grant freehold
status.
Noida still under leasehold system
The three industrial townships in Noida, Greater Noida and Yamuna
Expressway are still under the leasehold system. The state government
has proposed allotment of land by these three authorities on freehold
basis, but they are resisting. Even flat buyers in Noida are not
owners of the properties for which they invest huge sums. Flats are
sub-leased by builders to them.
What is leasehold property
The authority allots plots or flats for a period of time, which is
usually 90 years. A nominal lease rent is charged annually. On expiry
of the lease period, the title shifts back to the authority, which is
original lessor. Thereafter the allottee once again has to renew the
lease for next 90 years, which almost amounts to re-buying the
property.
What is freehold property
The property is enjoyed by the purchaser forever and heirs can
continue to do so. They can sell, mortgage and deal with it in any
manner. There is no expiry period for such properties. Various state
agencies such as Awas Vikas Parishad and other development authorities
including the one in Ghazibad have introduced the freehold system long
back.
Advantages of freehold
Once land in Noida is freehold, it will ease the process of sale and
purchase. People will not need to obtain transfer of memorandum. They
will not have to seek mortgage permission from the authority while
taking bank loans. Freehold land has for long been a major demand in
Noida. RWAs have been demanding the conversion for more than a decade
now.
Why authorities are protesting
The infrastructure and industrial development department of the state
government has proposed allotment of land by all seven industrial
development authorities, including the two in Noida and Greater Noida,
on freehold basis. But the authorities are resisting the move.
Allotting land on lease is one major source of revenue. This helps the
authority control use as well as transfer of land.
On Jun 12, 2:22 pm, "Safal Suri" <safals...@gmail.com> wrote:
> Dear Amit,
>
> UPSIDC is an Industrial Development Company virtually owned by UP
> Government, where as NOIDA, GNIDA and YEIDA are authorities and technically
> they have freedom to decide their own course.
>
> Therefore, whatever UPSIDC decided is necessarily not applicable to
> development authorities.
>
> Regards,
>
> Safal Suri
>
>
>
>
>
>
>
> -----Original Message-----
> From: Amit
> Sent: Tuesday, June 12, 2012 2:15 PM
> To: YEIDA
> Subject: [YEIDA:22003] : Re: : Re: Housing plots to become free-hold status
>
> I think i may have the direct affect on Noida , GN, and YEIDA as the
> article states that it will be a "concerted free-hold policy". Also if
> UPSIDC follows certain policy then how can authorities of Noida, GN, and
> YEIDA take another route.
>
> Safal ji what are yor views regarding this please let us know.
>
> --
> You have received this message because you have subscribed to the Google
> "YEIDA" group.
>
> To post a message to this group, kindly send an email to
> ye...@googlegroups.com
>
> You can unsubscribe from YEIDA group through our web interface or via email.
> (1) To unsubscribe through our web interface, please go tohttp://groups.google.com/group/yeidaclick the "Edit My Membership" link on
> ye...@googlegroups.com
>
> You can unsubscribe from YEIDA group through our web interface or via email.
> the right-hand side of the group's homepage. Then click the "Unsubscribe"
> button on the page that appears.
> (2) To unsubscribe from YEIDA group via email, please send an email to
> yeida+un...@googlegroups.com
>
> For help or assistance, kindly contact one of our YEIDA group moderators:
> Arnab Mukherjee, Raj Yadav, Safal Suri, Nagin Chand, Naveen Deep Sharma or
> Harpreet Singh Guller via email: modera...@yeida.org
> button on the page that appears.
> (2) To unsubscribe from YEIDA group via email, please send an email to
> yeida+un...@googlegroups.com
>
> For help or assistance, kindly contact one of our YEIDA group moderators:
> Arnab Mukherjee, Raj Yadav, Safal Suri, Nagin Chand, Naveen Deep Sharma or
>
> Alternatively you may write to Safal Suri at safals...@gmail.com or speak on
> +91-9811182828
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