Legacy stalled projects: 1,366 home registries done in March in Greater Noida - Hindustan Times

Legacy stalled projects: 1,366 home registries done in March in Greater Noida

Mar 31, 2024 09:28 PM IST

Legacy stalled projects: 1,366 home registries done in March in Greater Noida

Noida, In March 1,366 flat buyers across 16 legacy stalled projects in Greater Noida got their registries done to get ownership rights of their homes after years of delay in line with recommendations of an expert panel led by Amitabh Kant, officials said on Sunday.

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The local Greater Noida Industrial Development Authority said it has issued letters to builders of 28 more projects to deposit pending dues so that registries of around 4,500 more flats could be executed soon.

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Altogether, the implementation of recommendations of Amitabh Kant committee on legacy stalled projects has paved the way for the registration of 15,000 flats in 94 projects in Greater Noida, it said in a statement.

"Till now, about 1,366 flats in 16 projects have been registered. The registration process for the remaining 78 builder projects is also expected to start soon. The registry of flats of these projects was pending for a long time. Their buyers were very upset," the GNIDA said.

The Yogi Adityanath government has provided relief to thousands of flat buyers of 94 builder projects in Greater Noida, it said.

"Implementation of the recommendations of Amitabh Kant Committee has opened the way for registration of flats of 94 projects. Keeping in mind the interests of flat buyers, the state government gave the benefit of zero period for the period of COVID-19 from April 1, 2020, to March 31, 2022, to the builders," it said.

The authority said that by approving the policy of the co-developer, an opportunity was provided to complete the incomplete project.

In pursuance of the orders of the NGT, it was decided to consider providing the benefit of zero period from 14 August 2013 to 19 August 2015 in a radius of 10 km of Okhla Bird Sanctuary.

Besides, instructions were issued to immediately give plan approval, mortgage permission and registry permission as soon as 25 per cent of the outstanding amount is deposited by the builder, it noted.

"Many important decisions were taken, including providing a free period to complete builder projects in a maximum of three years and not cancelling the lease deeds of projects in which flat buyers are interested for the next three years. Due to these decisions, the registration of flats has now started," the GNIDA said.

"At present, 25 per cent of the total dues of 16 projects have been deposited by the builders in the account of the authority, due to which the outstanding amount of about 73 crore has been received. Registry of flats of these projects has also started," it added.

Till now the registration of about 1,366 flats has been completed. For 71 out of the remaining 78 projects, the builders have assured to deposit 25 per cent of the amount by April, from which an amount of approximately 715 crore will be received, the GNIDA said.

A total of 15,000 flats are expected to be registered in all these 94 projects. Apart from this, Greater Noida Authority is also trying to quickly resolve the disputes of projects going to court against additional compensation so that the names of flat buyers can be registered soon, it added.

The builder department of GNIDA said the registered 1,366 flats in the last month include projects of Gaursons Hitech, Jindal, Ace City, AIIMS Golf Town, Gaur Sons Promoters, Valencia Homes among several others.

This article was generated from an automated news agency feed without modifications to text.

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