HUDA modifies plot transfer policy

PANCHKULA, Aug 18: The Haryana Urban Development Authority HUDA has modified the transfer policy of residential and commercial plots. From now on, only two transfers of plots will be allowed after full payment without insisting on the execution of the conveyance deed.

A total of four transfers will be allowed as before, but under the modified policy, only two transfers will be allowed after full payment. The execution deed, however, will not be insisted upon. In cases where the conveyance deed has already been executed or the building constructed, either partially or fully, the transfer of ownership will be effected through the sale deed only, as before.

In order to determine the rate of transfer fee, various urban estates have been grouped into three zones 8212; Gurgaon, Faridabad and Panchkula in the high potential zone; Karnal, Panipat and Bahadurgarh in the medium potential zone and the rest of the urban estates in the low potential zones.

The rates of transfer fee of commercial sites will be three times the corresponding rates applicable to the residential plots.