In a move aimed at providing relief to residents of unauthorized colonies in Punjab, the state assembly has passed a new bill. This amendment eliminates the requirement for a No Objection Certificate (NOC) for property registration in these colonies, provided certain conditions are met.
Previously, residents of unauthorized colonies faced significant hurdles in registering ownership of their properties due to the lack of an NOC. This often resulted in complications when trying to sell, inherit, or access loans secured against the property.
The new amendment allows property registration for plots purchased through power of attorney, agreement to sell, or any other legal document up to July 31st, 2024, and with an area not exceeding 500 square yards. The registration window remains open until a specific date to be notified by the state government. This move is expected to benefit a substantial number of residents residing in unauthorized colonies across Punjab.
However, it’s important to note that this amendment does not address the underlying issue of unauthorized development. The government is likely to continue its efforts to regularize these colonies, but in the meantime, this new policy offers a practical solution for residents seeking to formally register their properties.
