You can live in, but not own them
There are an estimated 35 private housing projects, each covering hundreds of homeowners, affected by the ban, which did not apply to other categories of residential properties. Owners of independent floors couldn’t register themselves as owners of their properties as a result, reports Sanjeev K Ahuja.india Updated: Jun 09, 2009 00:09 IST
“Please someone respond: when is it going to start?” This message left on an Internet forum by a Gurgaon resident on June 4 had gone unanswered so far. But there is probably an answer now, and hope.
“Notification of the registration of independent floors could be issued any time, may be within this week only,” Haryana Finance Minister Birender Singh told Hindustan Times on Monday.
He blamed two opposing lobbies of developers for the delay.
There has been a ban on registration of independent floors — in houses on potted areas and in colonies developed by builders such as DLF Exclusive Floors, Unitech Singleton Floors and Ansals Sushant Floors — since 2003. They are also called builder floors.
There are an estimated 35 private housing projects, each covering hundreds of homeowners, affected by the ban, which did not apply to other categories of residential properties.
Owners of independent floors couldn’t register themselves as owners of their properties as a result.
They held them on power of attorney, a legal instrument allowing temporary ownership, real ownership rested with the builder.
This tenuous ownership made resale of such properties difficult. No bank finances purchase of power of attorney properties in Gurgaon.
“I wanted to sell my floor to a person who refused to buy it as he was denied loan by his bank as the property is not registered in the revenue records of Haryana,” said Vinay Gupta, an executive of a multinational company.
Many frustrated owners of independent floor found succour in an Internet forum that was started in January 2008.
They share their problems there, their anger, their frustrations and news updates.
Expectations rose earlier this year when word got around that registration was likely to be thrown open. Something did happen.
Guidelines containing the new rules were issued. But there was still a hitch: a notification was awaited.
Finance minister Singh has said the wait is nearly over.
“The delay was caused by a conflict between two lobbies of developers who had opposite interests,” he said, adding, “But now it has been decided and none can stop it.”