representative image Lucknow: In an important decision, Uttar Pradesh State Industrial Development Authority ,UPSIDA) Deadline for receiving extended residential plot Registered from existing 120 days to 180 days. This decision was taken in the 47th board meeting held on Monday.
As per the legal framework available, any person or entity purchasing land for residential purposes must register the property and make the necessary payments stamp duty To the government within 120 days. However, it was observed that many people were not following the order, causing delays. Therefore, in the best interest of the people and the government, it was decided to extend the period to 180 days.
To ensure that the order is implemented effectively, the government has reserved its right to cancel the allotment. This means that those who do not complete the registry work within the stipulated time will have to lose the allotment.
In the meeting chaired by Chief Secretary Manoj Kumar Singh, CEO UPSIDA Mayur Maheshwari and other officials discussed several key related issues. Land acquisitionManagement and Industrial Development. In another important decision, the authority also changed the provisions for construction of houses on plots taken for residential purposes.
As per the available framework, the buyer will have to start construction of the house within five years. In the new system, a buyer who does not start construction within five years will have to pay a penalty of 1% of the plot cost as per UPSIDA rate. This amount will continue to increase by 1% every year for the next five years.
If this deadline is missed, UPSIDA will cancel the allotment. However, there is scope for case-by-case concessions in disputes, lawsuits and encroachment cases.
Maheshwari said efforts are underway to introduce an operating manual to promote land acquisition in the state so that a land bank can be created.
He also said the manual aims to streamline the process so that there is a win-win situation for all parties – buyers, sellers, investors and the government.
Apart from this, several proposals for land acquisition in various districts like Etah, Kanpur, Barabanki and Prayagraj were presented before the Board.
