Noida Authority to Enable Registry of Properties Transferred via Multiple GPAs
The Noida Authority is preparing a policy that will allow the registry of residential plots and flats that have been transferred through multiple General Powers of Attorney (GPAs). This decision aims to resolve long-standing legal ambiguities surrounding property ownership while recovering lost revenue for the Authority and the state government.
The proposed policy, discussed at a recent board meeting, is seen as a crucial step in legitimising property ownership for individuals whose properties have changed hands multiple times via GPA transfers. These transactions, often complicated and lacking clear legal recognition, have left many property owners in a state of uncertainty for years. Currently, Noida’s regulations only recognise the transfer of properties by the first GPA holder, with associated fees ranging from 2.5% to 5% depending on the nature of the transfer. However, subsequent transfers—those conducted by second, third, or more GPA holders—have been problematic, as the system fails to acknowledge these transfers legally. This gap has led to numerous properties being stuck in legal limbo, depriving owners of their rightful claims and preventing the collection of additional revenue through stamp duty and transfer fees.
The proposed policy seeks to address these issues by allowing the registration of properties that have been transferred multiple times, bringing an end to legal uncertainties for hundreds of property owners in Noida. Officials believe the policy will also play a key role in recovering lost revenue by introducing higher fees for subsequent GPA transfers. Under the new policy, the fee structure will remain unchanged for first-time transfers, with fees ranging between 2.5% to 5% of the prevailing property rate. However, the proposal introduces higher fees for subsequent transfers made by second and third GPA holders. For example, the transfer fee for properties transferred by the second GPA holder will be 10%, while a 15% fee will apply for transfers by the third GPA holder. The policy also includes an incremental fee of 5% for every additional transfer beyond the third. This approach aims to provide a transparent and equitable solution to the issues arising from multiple GPA-based transfers, ensuring that those who have held property rights through these channels can now formalise their ownership.
The significance of this policy is clear. It will not only provide clarity and security to families who have faced difficulties with property ownership but also streamline the process of property transfer. For years, properties in Noida have been transferred multiple times through GPAs, without clear legal ownership, leading to disputes and confusion. This new policy is designed to resolve these issues by offering a structured framework for ownership transfer. The move is also expected to generate significant revenue for the Noida Authority and the state government, through stamp duty and registration fees, which have been lost due to the absence of a clear policy on multiple GPA transfers. The success of this initiative could serve as a model for other cities grappling with similar issues. This proposed policy marks an important step forward for Noida’s real estate market, as it seeks to resolve ownership disputes and provide legal clarity for property holders who have transferred their properties through multiple GPAs. By introducing a transparent mechanism for registration, the Noida Authority hopes to streamline property transactions, resolve long-standing disputes, and recover lost revenue. If successfully implemented, the policy will help ensure that the rights of property owners are protected and that future transactions are conducted within a clear, legal framework.
