Monday, January 17, 2011

Tranfer on GPA

In order to ensure that realty deals are not struck on the basis of forged or fraudulent documents, UT's rule regarding personal appearance of original owner for transfer of property on general power of attorney (GPA) at the first step is likely to be retained.

According to a September 2009 notification, only the actual owner of property is allowed to apply for a no-objection certificate (NOC), which is a mandatory document for transfer of ownership.

"Only the actual owner of a property is authorized to apply for NOC, which was not the case so far," the notification had stated.

There had been a demand to waive the condition as a large number of houses and showrooms in the city have been sold off against GPA. The decision was taken following a complaint by an NRI that his SFC in Sector 20 had allegedly been sold on the basis of a forged power of attorney.

GPA holders are legally entitled to get building plans sanctioned, transfer the possession of property, pay bills, correspond with the estate office and execute conveyance and lease deeds of the property on behalf of owner. However, they cannot sell the property until they obtain an NOC from the estate office.

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