Noida: The residents of Noida wrote to Ritu Maheshwari, Chief Executive Officer of New Okhla Industrial Development Authority, urging her to clarify when the residential properties would be made freehold from the leasehold.
Currently, residential land has been leased out to individual allottees for a specified period. Thereafter, the property's ownership lies with the authority.
In a letter to Maheshwari, Confederation of NCR RWA (CONRWA) said that the proposal of making residential property free hold from the current leasehold had got principle approval. It was approved in the 195th board meeting of the authority held in 2018.
PS Jain, President of CONRWA said that an expert committee, consisting of legal, administrative and financial officers was constituted to have detailed discussion on the issue. It made a recommendation that the proposal should be forwarded to the state government for consideration.
As per the committee, it made a recommendation, which was beneficial for the authority to make property freehold as the revenue collection would increase. The authority would make a corpus fund from the amount to be received from individual allottees as conversion fee.
On committee’s recommendation, the proposal received approval in principle from the board. But it was not being implemented despite getting approved almost two years ago.
Jain said, “The information was accessed in reply to RTI application made by residents. But we are not seeing any progress in its implementation.” “We would like to know from the authority when the authority is planning to make the residential property freehold,” he said.