Can anyone please help with sharing the idea/code how to set cq:noDecoration to true so that extra div tags can be removed which gets generated by CQ dynamically?
Also, is there a way to still allow editing along with setting cq:noDecoration to true?
Any help would be much appreciated.
You can set this at component level (Only 5.4 and above). Please see 
If you still see some component specific tag try to use