New Delhi, Nov 26 (IANS): The government on Tuesday introduced in Lok Sabha a Bill to regularise unauthorised colonies in Delhi to benefit over 40 lakh residents who have been residing in such colonies for years.

Union Housing and Urban Development Minister Hardeep Puri introduced the National Capital Territory of Delhi (Recognition of Public Rights of Residents in Unauthorised Colonies) Bill, 2019 which was last week approved by the Union Cabinet for its introduction in the ongoing winter session of Parliament for its consideration and passing.

The Bill will help in allowing the registration of properties and provide relief to the residents in Unauthorised Colonies of Delhi from registration charges and stamp duty.

Over 40 lakh people have been residing in 1,731 unauthorised colonies located on private or public property in Delhi.

Properties, whether in the form of plot of land or built up space are generally held through General Power of Attorney (GPA), Will, Agreement to Sale, Payment and Possession documents.

The properties in these colonies are not being registered by registration Authorities and thereby the residents do not have any title documents in respect of such properties and the Banks and financial institutions do not extend any credit facilities in respect of said properties.