New Delhi: The Union Cabinet has approved the proposal to introduce the National Capital Territory of Delhi (Recognition of Property Rights of Residents in Unauthorized Colonies) Bill, 2019 in the ongoing Winter Session of Parliament that will potentially benefit about 40 lakh people living in 1,731 unauthorized colonies of Delhi.
When enacted, the Bill will allow registration of properties by residents in unauthorized colonies of Delhi and give certain relief to them in Registration Charges and Stamp Duty.
The Bill envisages to recognize General Power of Attorney, Will, Agreement to Sell, Purchase and Possession documents as a special one-time relaxation for this purpose for the residents of UCs in Delhi. It also envisages to provide for stamp duty and registration charges to be levied on the value of the property mentioned in Conveyance Deed or Authorization Slip and for its applicability on last transaction only.
The Union Cabinet had approved the proposal to regularize these colonies in its meeting held on 23rd October and the same was notified on 29th October.