The Noida Authority board on Friday brought down transfer charges of properties. Residential plot owners and flat buyers entering the secondary market will have to pay 2.5% as charges now instead of 5%. Similarly transfer charges for other categories — commercial, industrial and institutional — have also been revised.
The infrastructure and industrial development department of the Uttar Pradesh government had asked the three industrial development authorities in Noida and Greater Noida to standardise their policies. The Greater Noia Industrial Development Authoity (GNIDA) had brought down the rates in June.
Noida Authority chairman Sanjeev Mittal, who presided over the board meeting, said, “The revision of transfer charges is an extremely important development for residents. Several residents’ groups and associations had raised demand and asked the authority to bring down the transfer charges.”