Millennium Post

Govt lifts ban on property transaction through GPA

In yet another move to woo voters ahead of the assembly polls in November, the city government on Friday decided to lift the ban on transaction of properties through general power of attorney (GPA). The decision will provide relief to lakhs of residents of group housing societies.
Chief minister Sheila Dikshit said that considering the difficulties being faced by residents, the government has decided to lift the restriction on transaction of properties through GPA. The ban had been imposed by the city government in 2012.

‘We have decided to allow transaction of properties through GPA. The order lifting the restriction on GPA transaction will come into effect from Monday,’ announced Dikshit.
Following a Supreme Court order on property transactions, Delhi government in April last year had put a stop to property transactions through GPA. The Supreme Court had on 12 October, 2011 ruled that sale transactions carried in the name of GPA will have no legal sanctity and immovable property can be sold or transferred only through registered deeds.

The Delhi High Court on 5 May  had quashed the Delhi government order banning property sale through GPA. Following the Delhi government ban, volume of property transaction in the city had come down drastically, as selling of leasehold properties through GPA transfers was convenient.
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