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IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Noida > Floor registry vs flat registry .
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Old November 13 2011, 01:18 PM   #1
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Default Floor registry vs flat registry .

Dear All

Why in areas like Noida,GN a landowner can't sell the floors(within FAR limits) where as a builder can sell the floors/flats. what difference in floor and flats, aren't both the same practically.

PS: Admin, please shift this thread to different group if required.

 
Old November 13 2011, 03:17 PM   #2
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Quote:
Originally Posted by Jai_Singh View Post
Dear All

Why in areas like Noida,GN a landowner can't sell the floors(within FAR limits) where as a builder can sell the floors/flats. what difference in floor and flats, aren't both the same practically.

PS: Admin, please shift this thread to different group if required.
Good question even I would love to understand why noida does not allow separate floor registry. Also what is the possibility in the future.
 
Old November 13 2011, 08:14 PM   #3
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seniors...please us understand it,
 
Old November 13 2011, 08:45 PM   #4
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would love to hear on this
 
Old November 13 2011, 10:14 PM   #5
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In Noida & GN, the land is on leasehold basis unlike Delhi/ GGN/ GZB/ FBD where the land is on freehold basis. Leasehold land has several restrictions in terms of use & transfer. The land being on lease, the lesee can not sell floors. He has no right to make part transfer of building.

Builders can sell flats as they have been given GH plots with rights to develop and sell flats as per guidelines prescribed by Authority. Once sold, the flat buyer becomes a direct lessee of Authority.

Hope this clarifies the matter..........
 
Old November 14 2011, 09:32 AM   #6
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Builders can sell flats as they have been given GH plots with rights

thanks SMJ.

Few more points:
1. Is freehold title of the land sufficient requirement for selling of the floors. Or are there any additional permissions/approvals required from authority for selling the floors even on the freehold residential land.



2) I've heard that with the passage of time authority can give an option to land owners to convert leasehold land into freehold. Does it depend of authority only to take this decision or can an individual approach the authority to have the title of his land changed.

3) Are there any set rule as when the authority shall give the option of title conversion of land. Can athurity can keep the title leasehold forever.

TIA
 
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