Relief for Greater Noida allottees

In a major relief to allottees in Greater Noida — which also covers the proposed realty hub of Noida Extension — the authority on Monday said the period during which construction was halted would be treated as “zero period.” In other words, no interest would be charged from allottees on unpaid installments during this period.

In a major relief to allottees in Greater Noida — which also covers the proposed realty hub of Noida Extension — the authority on Monday said the period during which construction was halted would be treated as “zero period.” In other words, no interest would be charged from allottees on unpaid installments during this period.

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CEO of Greater Noida authority Rama Raman said, “Allottees of various plots such as residential, group housing, industrial, institutional and commercial are unable to pay installments, so we will not charge interest during this period.”

Construction in Noida Extension — where 2.5 lakh flats are planned and one lakh booked — and elsewhere in Greater Noida has been frozen for more than eight months now after an Allahabad High Court ruling in October last year.