Builders agree to pay dues, 13,600 flats to be registered - Hindustan Times
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Builders agree to pay dues, Noida authority gives nod to process registries of 13,600 flats

By, Noida
Feb 27, 2024 06:20 AM IST

To obtain permission for registry in Noida, these developers have agreed to pay ₹552 crore, which works out to be about 25% of the total dues of ₹2,000 crore

The Noida authority has decided to give permission for executing registries of at least 13,600 apartments in 35 stalled housing projects after the respective real estate developers gave their written consent to pay land dues.

The 35 projects in Noida where registries will take place include Hyde Park in Sector 78, Prateek Fedora in Sector 61, Apex Homes in Sector 75, and Gulshan Homes in Sector 144, among others (HT Archive)
The 35 projects in Noida where registries will take place include Hyde Park in Sector 78, Prateek Fedora in Sector 61, Apex Homes in Sector 75, and Gulshan Homes in Sector 144, among others (HT Archive)

To obtain permission for registry, these developers have agreed to cumulatively pay 552 crore, which works out to be about 25% of the total dues of 2,000 crore.

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According to chief executive officer (CEO), Noida authority, 12 developers have already paid their dues and got permission for the registry of around 1,200 apartments in their stalled projects.

Also Read: 7 things you need to know about Greater Noida Authority’s group housing plot scheme

“After discussions and meetings, 35 developers, of a total of 57, have given their consent to pay dues. The authority has started the process to issue permission for the registry of 3,200 apartments as per the ruled in 35 stalled housing projects,” said Lokesh M, the CEO, Noida authority.

To be sure, the Noida authority issues permission for registry after a developer pays 25% of their total dues according to the policy approved by the Uttar Pradesh government on December 21, 2023.

Under the policy, the developers get waivers on penal interest for two COVID-19 years and also for the period when the construction work got disrupted due to court orders.

Also Read: Noida and Greater Noida markets register residential properties worth 3179 crore in Q4 2023: Report

After deducting the penal interests, these 35 developers have consented to pay 25% of the total dues to become eligible for registry of apartments, said officials of the Noida authority.

“The authority will issue permission for registry of remaining apartments in each housing project once the developers will keep clearing the remaining dues in the next one or two years time,” said Lokesh M.

Also, the authority has decided to organise camps for registry at housing complexes so that homebuyers do not face any further trouble. The first camp will be organised at Express Zenith society’s community hall in Sector 77, on March 1, 2024.

Also Read: Real estate in 2024: Four locations where you might want to put your money in

Uttar Pradesh chief minister Yogi Adityanath has directed the Noida authority that homebuyers must get possession and apartment registry without any inconvenience.

The Uttar Pradesh additional chief secretary and state’s infrastructure and industrial development commissioner Manoj Kumar Singh along with other senior dignitaries will attend the first camp.

“These camps will be organised in each society because we want buyers to get the registry done with ease. We will make sure the registry department staff also attend the camp so that buyers do not have to go to Noida’s Sector 33 registry office,” the CEO said.

The 35 housing projects where flats are eligible for registries include The Hyde Park in Sector 78, Prateek Fedora in Sector 61, Apex Dream Homes in Sector 75, Gulshan Homes in Sector 144, Divine Meadows in Sector 108, Golf Avenue in Sector 75, Elite Homes in Sector 77, Gulshan Botnia in Sector 144, Mahagun Moderne in Sector 78, Sunshine Helios in Sector 78, Sunworld in Sector 107, PAN Realtors in Sector 70, ATS Township in Sector 104 and Omaxe Buildwell in Sector 93B, among others.

The Confederation of Real Estate Developers Association of India (CREDAI), a realtors’ lobbying group, have also assured the Noida authority that it will persuade the remaining developers to pay dues and get permission for registry.

Also Read: Godrej Properties wins bid for group housing plot for 506 crore in Sector 44, Noida

“We have discussed our problems with the Noida authority that has started resolving all pending issues paving way for the registry of the apartments. We welcome the Noida authority’s move of organising camps in the housing complexes because it will benefit consumers,” said Dinesh Gupta, secretary, CREDAI, Western UP chapter.

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  • ABOUT THE AUTHOR
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    Vinod Rajput writes on environment, infrastructure, real estate and government policies in Noida and Greater Noida. He has reported on environment and infrastructure in Delhi, Gurgaon and Panchkula in the past.

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