PROPERTY - REGISTRATION
Call For Registration/ Notification
The Call for Registration against any residential scheme of Plots/ houses shall be published in at least two National Level News Papers. The notification shall clearly specify the process of getting the required Application Booklet and also the process of it's submission.
Eligibility For Registration
The conditions of eligibility for registration in any residential scheme of Plots/Houses are:
- Applicant should be Citizen of India
- At the time of filing the Application, the Applicant should have attained 18 yrs of age
- Applicant or family members should not posses any residential property in Moradabad City
In case of Death of Applicant/ Alottee
In case of Death of the Applicant/ Alottee, the allotted property shall be transferred to the legal heirs after submission of required documents.
The allotment shall be done keeping provision of reservations as per the current applicable Government Orders.
Cancellation of Registration and Refund of Deposits
In case any registered applicant demand the refund of deposit before lottery, the registration amount shall be refunded without any interest. In case any applicant demand the refund after allotment of property, the deposit amount shall be refunded after deduction of 20% on the registration amount. In case the applicant demand the refund before allotment and the deposited money is in Development Authority's account for more than one year, the refund shall be made with simple annual interest of 4%. For calculation of interest the deposit and refund months shall not be counted.
Hiding The Facts
In case it is found at any stage that the details furnished by the applicant are not true or any important fact has not been disclosed, the Vice Chairman, Moradabad Development Authority shall have full right to cancel the allotment/registration/agreement and seize the registration amount deposited by the applicant. Other legal actions may also be taken.
The registry of the property shall be done by the Development Authority in free-hold fashion. The charges @12% of the land cost shall be taken as the free-hold charge
Levy charges are imposed at the time of freehold registry of any lease hold plots. The levy shall be imposed @ 2% rates calculated from 1.5.1998 till the application date.
For the purpose of loans, the allottee may Mortgage the Property after getting the NOC from Moradabad Development Authority