Noida to lift ban on registration of apartments in sports city project - Hindustan Times
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Noida to lift ban on registration of apartments in sports city project

Feb 28, 2024 05:12 AM IST

Noida authority had banned sub-lease (registry) of plot or flat sale in Sector 150 because the comptroller and auditor general of India had started the probe

NOIDA: The Noida authority is likely to lift the three-year long ban imposed on apartment registration in the Sports City housing project located in Sector 150, said officials on Tuesday.

The move will benefit thousands of homebuyers who are suffering for the last three to four years after the authority, in 2021, had imposed the ban in view of the comptroller and auditor general (CAG) audit. (Sunil Ghosh/HT Photo)
The move will benefit thousands of homebuyers who are suffering for the last three to four years after the authority, in 2021, had imposed the ban in view of the comptroller and auditor general (CAG) audit. (Sunil Ghosh/HT Photo)

The move will benefit thousands of homebuyers who are suffering for the last three to four years after the authority, in 2021, had imposed the ban in view of the comptroller and auditor general (CAG) audit.

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The state’s highest body -- public accounts committee (PAC) consisting of senior MLAs -- following a probe has finally recommended to remove the ban, and approve the revised layout of Sports City project having Luxury housing projects in Sector 150, located along Noida-Greater Expressway.

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

“Since we have got the recommendations to lift the ban on registry and also approve the revised layout submitted by the developer, we have decided to take the matter up in the upcoming board meeting that will be organised soon after the chairman gives time for the same,” said Noida authority’s chief executive officer (CEO) Lokesh M.

After discussing the matter, the authority board will take a call on starting apartment registration, issuance of occupancy certificate and also approving the revised layout of this housing project, he added.

The Noida Authority aims to organise the board meeting any time before the model code of conduct comes into effect ahead of the 2024 general elections, if the UP additional chief secretary Manoj Kumar Singh who is also chairman of the Noida authority gives time for the same, the CEO further added.

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

Under Singh’s chairmanship, the board will discuss the Sports City issues on merit basis and decide the fate of this project where huge investment is at stake.

“The authority had banned sub-lease (registry) of plot or flat sale in Sector 150 because the comptroller and auditor general of India had started the probe. Now the CAG observations were looked into and resolved by the PAC. Also, the PAC asked the Noida authority to remove the ban imposed on sublease deed and approve the revised layout of Sports City so that the stuck realty projects can take off,” said a Noida authority official aware of the matter.

The Noida authority’s 201st board meeting had on January 18, 2021 banned the approval of building map revisions and also the registry of the apartment owners in the city’s Sector 150, located along Noida-Greater Noida Expressway causing distress to the homebuyers who are living in their respective apartments without registry.

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

Under the sports city project, the consortium of developers led by Lotus Greens constructions private limited are developing ultra luxury housing projects on 30 percent of land and remaining 70 percent is reserved for recreational green with world-class sports facilities as per the terms of the scheme, said officials.

In master developer Lotus Greens’ sports city the Tata, Godrej, ACE, Prestige Group, Home Kraft, Eldeco and Samridhi Group among others are developing realty projects, and the Birla Estates has also shown interest to take up land in this project, they added.

In 2014-15, the Noida authority had allotted 12 lakh square metres of the sports city land in sector 150. However, the Noida authority is yet to hand over the possession of at least 300,000 square metres of sports city land due to farmers’ dispute prompting a group of realtors to approach the Allahabad high court.

At least 10,000 homebuyers will get immediate relief as they will be able to execute their registries, if the authority implements the court order.

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

According to Dinesh Gupta, secretary, Confederation of Real Estate Developers Associations of India (CREDAI), Western UP chapter, and managing director of Samridhi Group, they are happy to learn that the Noida authority will remove the ban on registry and also approve the revised layout of building maps following the PAC directions.

“The move will benefit the homebuyers, who are waiting for their registries for a long time,” he said, adding: “Also, the move will boost sentiment in this sector 150 that is home to the luxury realty projects and the most sought after destination for those who want to own a dream home.”

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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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