Transferring property charges to heirs opposed
Noida- The residents in Noida have demanded the state government to call off the transfer charges which are to be paid by the property allottees even if they are transferring the property to their blood relatives.
This decision is currently under consideration by the Noida Authority. The proposal which was made by the UP department of stamps and registration to Noida Authority, stated that changes made for the allotment of properties can be allowed only after the execution of the lease deeds.
However, the stamp department rules that the property allotees should transfer their allotments to their blood relatives prior to the execution of the lease deeds.
Currently, the allotees can transfer their properties to their blood relations by paying a sum of Rs 1,000 for the processing fees at the time of the allotment and signing of lease deeds. This rule was also implied in order to make registration of all immovable properties compulsory once it has been allotted. A person getting a further transfer will have to get a fresh registration and payment of stamp duties.
The decision has however been accepted by the Noida Authority and has been worked upon.
Read more real estate stories
Residents protest against surcharge on the power bills
Buyers tussle and builders dissapear
allotment and signing of lease deeds, blood relatives, Immovable properties, lease deeds, Noida, Noida Authority, property allottees, residents in Noida, Stamp Duties, State government, transfer charges, UP department of stamps and registration
