Relief for Gurgaon Floor Owners

March 21st, 2009  |  Published in Real Estate  |  1 Comment

In a case which was pending for last 5 years, the Haryana government has finally legalized the registration of independent floors constructed on plots by private owners, in colonies developed by Haryana Urban Development Authority(HUDA) and private developers such as DLF, Ansals and Unitech.
This is not only good news for the ones who were looking forward by buying property in gurgaon, but brings out relief for the ones who were insecure as they had bought their properties on General Power of Attorney(GPA). Their properties can now be registered in their own names by paying registration charges to the revenue department.


What used to be in the past ?

  • The property aspirants would buy floors on General Power of Attorney(GPA) only and could not register the property in their own name.
  • The GPA can be challenged in the court of law by seller after the deal, jeopardising the property rights of the buyer.
  • The property buyers would not get finance from the banks since GPA is not considered to be a valid purchase instruments.
  • The government would lose revenue in the form of registration charges and stamp duty in crore of rupees.

What will be from now on?

  • People can get independent floors registered in their names and become bonafide owners of the property.
  • They also qualify for loans from banks.
  • They will also be eligible for separate power, water and sewerage connections.




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