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UP industrial corp to make land freehold
In a step towards making land freehold in industrial townships, the Uttar Pradesh State Industrial Development Corporation (UPSIDC) has decided to make residential plots in two of its projects at Greater Noida and Ghaziabad, freehold.
In a step towards making land freehold in industrial townships, the Uttar Pradesh State Industrial Development Corporation (UPSIDC) has decided to make residential plots in two of its projects at Greater Noida and Ghaziabad, freehold.
Thousands of people in Ghaziabad and about 1,000 in Greater Noida will benefit.
The Ghaziabad Development Authority currently allots residential plots on freehold basis, but the UPSIDC will make a fresh beginning.
In Greater Noida and Yamuna Expressway areas, all the land is allotted on lease. As a result, even flat buyers in Noida are not owners of the properties for which they invest huge sums.
The state government has proposed allotment of land by all seven industrial development authorities in UP on a freehold basis. But the authorities are resisting the move. "Allotting land on lease is our main source of revenue generation. Besides, this helps us control use as well as transfer of land," said a senior officer in Noida.
In its board meeting held on Monday, the UPSIDC decided to frame a policy to grant freehold status to housing plots and fix conversion charges within a fortnight.
The two immediate beneficiaries are: allottees of residential plots in Tronica City in Loni (Ghaziabad) and in Surajpur (Greater Noida)."UPSIDC board has given its approval which will be sent to the state government for clearance before the plan can be introduced,”said Mayank Srivastava, UPSIDC regional manager.
