Nod to property sale in 312 private colonies soon

Date : Jan 8, 2013

NEW DELHI: Delhi Government's revenue department is all set to open sale and purchase in around 312 colonies built on private land. The proposal, which was recently cleared by the Lieutenant Governor's office, is expected to be notified by next week. 

As per the proposal revenue department had sought permission for allowing sale and purchase on the basis ofkhasra number on colonies that existed on private land. The decision to allow sale and purchase will bring relief to lakhs of residents of the colonies as the government had restricted sale and purchase in the settlements after issuance of provisional regularization certificates in 2008. It will also cause real estate prices in the city to shoot. 
Sources said that properties would also be registered on the basis of valid general power of attorney registered prior to October 2011 Supreme Court order or a registered agreement to sale. 

The revenue department's proposal has categorized private colonies into four categories — colonies that came up on entire private land, colonies on private land acquired by the government where it did not take any action against the residents , colonies on private land that were acquired solely on paper and the government never gave any compensation to farmers or original allottees and colonies where lands have been vested into gram sabha. 

Of the four categories, the LG office, however, has cleared sale and purchase only in first three categories and has asked for a revised plan for those vested on gram sabha land. 

source: http://economictimes.indiatimes.com/markets/real-estate/news/nod-to-property-sale-in-312-private-colonies-soon/articleshow/17922956.cms