Cabinet approves proposal to introduce Bill on unauthorised colonies of Delhi

New Delhi [India], Nov 20 (ANI): The Union Cabinet on Wednesday approved the proposal to introduce the National Capital Territory of Delhi (Recognition of Property Rights of Residents in Unauthorised Colonies) Bill, 2019 during the ongoing Winter Session of Parliament.
The Bill will help in allowing the registration of properties and provide certain relief to the residents in Unauthorised Colonies of Delhi from Registration Charges and Stamp Duty.
"Nearly 40 lakh people reside in Unauthorised Colonies located on private or public land in Delhi. Properties, whether in the form of plot of land or built-up space are generally held through General Power of Attorney (GPA), Will, Agreement to Sale, Payment and Possession documents," an official Cabinet release said.
"The properties in these colonies are not being registered by registration Authorities and thereby the residents do not have any title documents in respect of such properties and the Banks and financial institutions do not extend any credit facilities in respect of said properties," it said.
The proposed National Capital Territory of Delhi (Recognition of Property Rights of Residents in Unauthorised Colonies) Bill, 2019, envisages; to recognize GPA, Will, Agreement to Sell, Purchase and Possession documents as a special one-time relaxation for this purpose for the residents of Unauthorised Colonies in Delhi.
The bill aims to provide for registration charge and stamp duty to be levied on the value mentioned in Conveyance Deed or Authorisation Slip and for its applicability on the last transaction only.
"The above relief provisions will benefit more than 40 lakh people living in 1,731 Unauthorised Colonies of Delhi as mentioned in the National Capital Territory of Delhi (Recognition of Property Rights of Residents in Unauthorised Colonies) Regulations, 2019 notified on October 29, 2019," read the release. (ANI)