Properties to be sold in 312 private colonies soon

New Delhi-?The revenue Department of Delhi is all geared up to initiate the sale and purchase of the 312 colonies which are constructed on the private?land. This proposal was recently approved by the?Lieutenant Governor?s office and will be notified by the coming week.

The?revenue?department?had sought permission to allow the sale and purchase of the land based on the khasra number on colonies situated on the private land as per the?proposed revenue.

This decision to do the land transactions will be quite beneficial to the colony residents as they were earlier not allowed to do any sort of land transaction here due to the?issuance?of provisional regularization certificates in 2008.

This step will not just ?help the residents buy and sell their?properties in Delhi but will also result in increased property prices. As per sources, the properties will be registered as per the valid general power of attorney which is registered before October 2011 Supreme Court order.

The private colonies are divided into four categories as per the?revenue department?s proposal. They are divided into colonies which were established on entire private land, the colonies on the private land procured by the government with no actions against the residents and the colonies established on private land procured through paper and an absence of?compensation to farmers by the government and lastly colonies with lands under the gram sabha.

However, only the first three categories are cleared for the sale and purchase followed by a revised plan for lands under the gram sabha.

Read more real estate news

Delhi government to start regularization of colonies

Recommendations to use illegal colonies in Delhi

Source: http://www.commonfloor.com/news/properties-to-be-sold-in-312-private-colonies-soon-39330

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