The Uttar Pradesh government is mulling allotment of land by seven industrial development authorities, including the two in Noida and Greater Noida, on free-hold instead of the existing lease basis.
Currently, individuals, builders, institutions and industry, besides commercial establishments are allotted land on lease basis. As a result, even flat buyers in Noida are not owners of the property for which they invest huge sums of money. Flats are sub-leased by builders to them. Land in neighbouring cities such as Ghaziabad is available on free-hold basis.
Free-hold land has for long been a major demand in Noida. Currently land is allotted on a lease agreement of 90 years and annual lease rent is charged. The objective is to control use as well as transfer of land. The federation of Noida RWAs has been demanding the conversion for more than a decade now. It was also one of the poll planks of Noida MLA Mahesh Sharma.
"This is a welcome move. Though the Ghaziabad development authority and other development boards and authorities in the state have been converting the lease-hold system into free-hold but the Noida authority resisted the change in policy," said a Congress leader.