The Greater Noida Industrial Development Authority (GNIDA) on Wednesday held a meeting with real estate developers of industry body CREDAI and directed them to pay their dues as soon as possible and ensure registration of apartments in dozens of projects in the area.
Pending registration and delay in owning flats have been a pressing issue in Noida and Greater Noida for a long time and the Uttar Pradesh government is also making a push to address the plight of homebuyers.
At the Centre, a panel led by Amitabh Kant also came up with recommendations to end the dilemma for homebuyers, builders and local authorities.
“On Wednesday, GNIDA CEO NG Ravi Kumar directed builders to immediately register in the name of apartment buyers. He asked builders who have not deposited 25% of the total outstanding amount of their projects to pay within the deadline. The process of registration in the name of buyers will begin a week later. Register the apartments in their name, failing which action will be taken against them,” according to an official statement.
Manoj Gaur, Geetamber Anand, Dinesh Gupta and many other officials from the Confederation of Real Estate Developers Association of India (CREDAI) attended the meeting.
GNIDA said efforts are on to get the flats registered based on the recommendations of the Amitabh Kant-led committee, which was formed to provide housing to flat buyers. A total of 96 such projects need to be registered in Greater Noida.
“Out of these 96 projects, 15 projects have not paid any fees and units in these projects are being registered. So far, 2,322 units have been registered in these 15 projects. Apart from this, there are 40 such projects of builders have deposited around 25% of the total amount outstanding $276 crore to the authorities,” it said.
“about $These 40 projects will also receive another Rs 1,200 crore. Registration for these projects also begins after depositing 25% of the amount. Of these, 315 apartments have been registered so far. In the remaining 41 projects, the registration process begins once 25% of the amount is deposited. “
The CEO directed that the 40 builders who have deposited 25% amount to start registration should complete the registration process expeditiously, while the 41 builders associated with the project who have not yet deposited 25% amount should complete the payment within a short time. One week.
“Otherwise, after this period, the authorities will take strict action against these builders. Action will be taken to cancel their sub-lease and seize the properties,” Kumar said.
Dinesh Gupta, CREDAI Western UP secretary, told PTI that during a meeting with senior GNIDA officials, the developer sought extension of time till the end of July to complete the payment.
“Currently the Lok Sabha elections are going on and the Model Code of Conduct has come into effect, due to which developers are facing difficulties in financial transactions. We have requested time before July 31 so that after the elections, we can approach banks and other sources of funds and can get dealt with,” Gupta said.
“Officials said they would consider our request for an extension of time,” he added.