78 home-buyers in Noida Sec 107 get flat registry

The authority set up a camp in the society to make sure buyers execute registry with ease instead of going to the government office in Sector 33

The Noida authority on Monday said it has executed the registry of 78 homebuyers in Great Value Sharnam housing society in Sector 107 after the realtor paid 25% of his total dues against the housing project.

This is the second camp that the authority has set up after the first camp in a Sector 77 society before the Lok Sabha elections. (Sunil Ghosh/HT Photo)

The authority set up a camp in the society to make sure buyers execute registry with ease instead of going to the government office in Sector 33, officials said.

The Noida authority chief executive officer, Lokesh M, inaugurated the camp where 78 out of 234 units got their registries issued. The authority said that the promoter paid ₹49.38 crore as part of the 25% share of total land dues against this project.

“We had organised a camp before the elections and now we will set up more camps in societies for the convenience of homebuyers. We are talking to all developers so that they can get the interest waivers and pay the dues under the scheme. We are in touch with all kinds of defaulting realtors who need to clear dues and become eligible for registry,” said Lokesh M.

This is the second camp that the authority has set up after the first camp in a Sector 77 society before the Lok Sabha elections. The Noida authority on April 4 directed 42 out of 57 realtors to pay dues and obtain permission for the registry. The realtors are paying dues and obtaining permission for the registry. At least 10,000 registries have to happen in these 42 projects, the authority said.

The Uttar Pradesh government on December 21, 2023, announced a scheme to address realty woes and directed the Noida authority to take up the policy to make defaulters pay part of the dues in 60 days and then execute flat registry within three months.

According to the scheme, if a developer defaults from paying ₹100 crore in a stalled realty project then he will have to pay ₹25 crore upfront to become eligible for the multiple benefits that include permission to execute registry in the name of the buyers, mortgage permission and additional time to build, and he will have to pay ₹75 crore of the remaining defaulted amount in one year.