Greater Noida body warns builders to initiate flat registry in 15 days
Builders who fail to initiate the registration process within 15 days will face strict action, including the cancellation of their land allotments
The Greater Noida Industrial Development Authority (GNIDA) has issued a stern directive to builders to initiate the flat registry process for buyers within 15 days, warning that non-compliance will result in severe consequences, including project cancellations and possible referral of cases to the Economic Offences Wing (EOW), said officials on Sunday. This decision aligns with instructions from Uttar Pradesh chief minister Yogi Adityanath, who has called for the rapid completion of flat registries to benefit homebuyers, many of whom have been waiting for years to gain ownership of their homes.
Greater Noida Authority, CEO, NG Ravi Kumar, has instructed the builder department to meet with developers and urge them to prioritize flat registrations. In cases of negligence, land allotments will be cancelled, officials said.
“The authority is committed to safeguarding the interests of homebuyers and ensuring the timely registration of flats. Builders who fail to initiate the registration process within 15 days will face strict action, including the cancellation of their land allotments. We urge all builders to comply and expedite the process to avoid any further consequences,” said Saumya Srivastava, additional CEO (ACEO) of GNIDA.
According to officials aware of the matter, builders who have failed to deposit 25% of their total outstanding amount, despite benefiting from a government order based on recommendations from the Amitabh Kant Committee, will face land allotment cancellations, and their cases will be referred to the EOW for investigation. Notably, the Amitabh Kant Committee, led by prominent Indian bureaucrat Amitabh Kant, was established to address challenges in India’s real estate sector, particularly stalled housing projects and unresolved disputes between homebuyers and builders.
In a recent meeting chaired by ACEO Srivastava, it was revealed that on December 21 of last year, the state government issued a policy based on the committee’s recommendations. Out of 98 projects benefiting from this policy, 13 builders have paid their total outstanding amount, and 58 builders have deposited 25% of their dues, amounting to approximately ₹505 crores, said officials.
As a result, GNIDA granted permission for the registration of 9,558 flats, and by September 5, 6,624 flats had already been registered. During the meeting, Srivastava directed builders to complete the registration of the remaining flats without delay, adding that registrations can be completed without late fees for the next six months.
“Our primary objective is to ensure that homebuyers receive their flats without further delays while also holding builders accountable for their financial obligations. The Amitabh Kant Committee’s recommendations were put in place to offer builders some relief, but those who fail to comply with the conditions will face strict action,” Srivastava said in the meeting.
Officials further noted that builders who have not deposited 25% of the outstanding amount will face cancellation of their land allotments, and GNIDA will take possession of the land. Investigations will be referred to the EOW, and a forensic audit will be recommended to the government.
“We are determined to take all necessary steps, including land allotment cancellations and legal investigations, to ensure the real estate sector functions transparently and efficiently,” added Srivastava.
Residents expressed hope that the authority’s actions would lead to accountability and faster flat registrations. “It’s reassuring to see that authorities are finally taking cognizance of issues faced by homebuyers. My close friend has been waiting for his flat for a long time now, and it’s been a difficult journey. We hope this push from the authority leads to accountability and faster registrations,” said Rajesh Patel, a Greater Noida resident.
“I’ve been on the fence about buying a flat here due to the uncertainty, but GNIDA’s strict stance gives me more confidence that things are improving. It feels like the right time to make an investment, knowing there’s accountability for builders”, said Vishnu Joshi, a resident of Jaypee Greens.