Source: PIB & The Economic Times
Background on PM-UDAY:
Union Cabinet under the chairmanship of Prime Minister approved the Conferring of Ownership/Transfer Rights to the Residents of Unauthorised Colonies on the 23rd of October 2019.
Union Cabinet has also approved the introduction of the bill in the ensuing session of Parliament to recognize ownership of property based on General Power of Attorney (GPA), Will, Agreement to Sell, Payment and Possession Document, etc.
Key highlights
- Under the PM-UDAY the Government will legalize all the unauthorized colonies with definite boundaries. People living in these colonies would be conferred/recognized with ownership /transfer/mortgage rights
- Recently Centre has readied the formal framework to regularise 1,728 unauthorized colonies with a bill to give a one-time reprieve from income tax liability and levying of stamp duty for registration of properties.
- The government would introduce the National Capital Territory of Delhi (Recognition of Property Rights of Residents in Unauthorised Colonies) Bill, 2019, in the upcoming winter session of Parliament
- Once the Bill is passed, the Centre would formally start the process under the scheme which has been named PM-UDAY
- The Cabinet had approved the regularisation of unauthorized colonies on October 23. The Bill will give a one-time cover to residents from income tax liability.
- After the Bill is passed, the Delhi Development Authority, the nodal agency for implementation of the regularisation process, will launch its web portal and then empanel agencies to fix geo-coordinates of plots.
- PM-UDAY will require first self-assessment by the resident which will be reviewed by field officers.
- Every resident in these areas will be required to open a DigiLocker account and upload documents related to the property in the unauthorized colony. The person will then take photographs of the property from the outside.
