NOIDA: On Saturday, the Noida Authority board approved an eight-member committee to tackle the longstanding issue of non-registration of tripartite sub-lease deeds.
This committee, chaired by the additional chief executive officer (group housing) of Noida, is responsible for analyzing the challenges associated with the non-registration of these sub-lease deeds and providing recommendations to resolve them, while ensuring the financial interests of the authority are protected.
Officials indicated that the panel’s recommendations could lead to a standardized policy for regularizing sub-lease registrations in ongoing cooperative housing cases across Noida.
The decision was influenced by ongoing challenges encountered by flat owners—both current occupants and subsequent buyers—who have obtained no-objection certificates (NOCs) from their respective cooperative societies, yet lack registered tripartite sub-lease deeds.
The matter gained urgency after the Air Force Naval Housing Board highlighted, in a letter dated December 10, 2024, that there are 729 such flats in Sectors 21 and 25, where original allottees sold units without executing sub-lease deeds. The board requested that the authority permit the direct registration of sub-lease deeds for current occupants upon payment of the necessary fees. In response, the authority proposed forming the committee.
The panel will comprise the chief legal advisor, financial controller, officer on special duty (group housing), assistant inspector general (stamp) of Gautam Budh Nagar, as well as general managers for planning and civil, and the manager or assistant general manager (group housing).
Cooperative societies have repeatedly pointed out that many flats have been resold by original allottees, with ownership changes recorded in society records but without the execution of sub-lease deeds. In numerous cases, the properties were sold multiple times through GPA or SPA transactions, resulting in occupants residing in these units without registered sub-leases.
Officials noted that this situation leads to financial losses for the authority and reduced revenue for the state due to unpaid stamp duties.
Historically, Noida Authority has allotted group housing plots to cooperative societies with the stipulation that after constructing the flats, settling all dues, and issuing occupancy certificates, tripartite sub-lease deeds would be executed within a specific timeframe. However, many societies have failed to execute sub-lease deeds for numerous flats, leading to legal, financial, and administrative complications.
Currently, the Noida Authority permits the execution of sub-lease deeds only for the original or first allottee, subject to payment of applicable delay charges.
