After decade-long wait, registries begin at Lotus 300 on Supreme Court orders

Following the top court order on September 27, 2024, Noida authority chief executive officer Lokesh M has appointed Vaibhav Gupta as nodal officer for completing the documentation

After more than a decade-long wait, homebuyers of Lotus 300 on Thursday were finally able to execute the registries of their homes, thanks to a Supreme Court order that directed the Noida authority to issue registry permission without waiting for the builder to clear the land dues it owes the authority.

In phase one, the authority will execute a registry of 102 apartments in towers 1 and 2 as the occupancy certificate has been issued for both these towers. The nodal officer will complete the formalities for issuing occupancy certificate for towers 3 to 6, and registries in these towers will be taken up in the second phase. (Sunil Ghosh/HT Photo)

Following the top court order on September 27, 2024, Noida authority chief executive officer Lokesh M has appointed Vaibhav Gupta as nodal officer for completing the documentation, which is basically the issuance of occupancy certificate/completion certificate for towers 3 to 6.

In phase one, the authority will execute a registry of 102 apartments in towers 1 and 2 as the occupancy certificate has been issued for both these towers. The nodal officer will complete the formalities for issuing occupancy certificate for towers 3 to 6, and registries in these towers will be taken up in the second phase, said officials.

“We are extremely happy as our long struggle has finally yielded results and the registry of our flats have started following the Supreme Court order. On Thursday, 14 buyers executed their registry at the Sector 33 registrar’s office and the remaining registries will take place soon,” said Bhuwan Chaturvedi, president of Lotus 300 apartment owners association.

“Our biggest victory is that we did not bend before the pressure of time and continued to fight for justice. It took an 11- year long legal battle to achieve this and it is indeed a great moment for all of us,” Chaturvedi said.

“We have been waiting for registering our apartment for more than a decade. And when the case was filed, we were uncertain about when the final verdict would come. But now that time has come, and we will get the property title soon,” said another buyer who did not wish to be named.

As per the SC order, the National Company Law Tribunal appointed an interim resolution professional, A Viswanadha Sarma, from Hyderabad to verify and sign the registries.

IRP is controlling the project as the developer firm Hacienda Project Private Limited (HPPL) is facing bankruptcy proceedings after it failed to pay ₹193 crore due to the Noida authority and also other lenders.

In response to a writ by homebuyers, the Allahabad high court had on February 29, 2024, directed the Noida authority to execute the registry in Lotus 300 housing project without seeking a no-dues certificate from the realtor. But the authority approached the Supreme Court against this verdict but eben the top court upheld the high court ruling.

The SC bench of justice Sanjiv Khanna and justice Sanjay Kumar in its order said, “We have examined the contents of the aforesaid letter and find that some of the conditions therein would be impossible for the Lotus 300 Apartment Owners Association to comply with. Some others are superfluous and unwarranted. The petitioner, NOIDA (Noida authority), must adopt a positive and proactive approach to ensure that the flat owners/buyers are given possession of their flats and that the registered deeds are executed.”

The society, which comprises 330 flats, is currently occupied by about 300 residents. The high court, in its order in February, observed that the promoters had conned homebuyers by launching the project and collecting ₹636 crore, and syphoning off almost ₹190 crore, besides selling a portion of land to a third company and pocketing the proceeds of ₹236 crore.

The Noida authority had in 2010 allotted 17 acres for this housing project and the realtor had promised to deliver ready flats by 2013-14. But it failed to keep that deadline.

“The Noida authority has started the registry of apartments in Lotus 300 housing project as per the Supreme Court order in towers 1 and 2 for which occupancy certificate has been issued. The registry in other towers will be executed once the occupancy certificates are issued,” said Lokesh M, chief executive officer of the Noida authority.