Advertisement

HindustanTimes Sat,19 Apr 2014

DDA allows conversion of select flats to freehold, with riders

HT Correspondent, Hindustan Times  New Delhi, April 02, 2013
First Published: 00:29 IST(2/4/2013) | Last Updated: 00:30 IST(2/4/2013)

In a move that spells relief for thousands of owners of Delhi Development Authority (DDA) flats, properties registered on general power of attorney (GPA) and agreement to sell (AS) between 2001 and 2011 will be entitled for conversion.

Advertisement

The DDA had stopped converting properties from leasehold to freehold that were registered on GPA and AS from 2001. The Supreme Court had in 2011 declared registration on GPA as null and void.

As a result, at least 60,000 DDA flats in the Capital could not be sold.

Last week, the urban development ministry liberalised the scheme of conversion to freehold for DDA flats.

According to the policy, flats with registered GPA and AS between September 24, 2001 and October 11, 2011 will be entitled to conversion to freehold after paying 66-2/3% surcharge in addition to conversion charges applicable on the date of application.

“All DDA properties till 1992 were on leasehold and were sold and resold on GPA. From then to 2001, flats where the chain of sale could be established, conversion could be done on GPA after paying surcharges,” said a senior DDA official, who did not wish to be named.

“Conversion on GPA, however, was stopped from 2001 and transfer of title of property on the basis of GPA/AS executed after October 10, 2011 was restricted after a Supreme Court direction in 2011,” he added.

Flats initially allotted on a hire-purchase basis from April 1992 to October 11, 2011, will be allowed conversion to freehold on GPA/AS basis on payment of 66-2/3% surcharge in addition to conversion charges as applicable on the date of application.

 However, unregistered GPA and AS holders will be allowed conversion only up to September 24, 2001 subject to clearance of all outstanding dues such as installments, interest etc.

Thereafter, the applicant will have to give registered GPA/AS for conversion.

 The scheme has already come into effect and the brochure which will have the terms and conditions and format of documents to be submitted listed in detail is available at the DDA headquarter Vikas Sadan.

Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved