Noida plot owners can pay one-time lease rent only till September 30

Noida plot owners can pay one-time lease rent only till September 30
29/09/2017 , by , in News/Views

Noida plot owners can pay one-time lease rent only till September 30. As banks are closed on September 29 and 30, the last day to deposit the rent in banks is Thursday (September 28). However allottees will be able to deposit the lease rent online. From October 1, 2017 onwards property owners of residential, commercial and industrial plots will have to pay lease rent annually as the Noida Authority will not accept one-time payment anymore. In June this year Noida Authority had revised norms for collecting lease rent from allottees. So far the cash strapped Authority has collected Rs 109 crore from allottees who have deposited the one time lease rent.

According to Noida Authority officials, allottees who have paid one-time lease rent for their properties will not be affected. Till now, allottees had an option for paying a one-time lease rent, which meant paying the lease rent for 11 years together. This means that the property owner will be leased the property for a period of 99 years by Noida Authority. Presently, Noida charges lease rent starting from 0-5% upwards. Each category of property is charged a different lease rent, which is charged on the total allotment money, officials said.

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