Noida authority to issue occupancy certificates to two more housing projects
The Noida authority is likely to issue occupancy certificate to two housing projects — Mahagun Moderne in Sector 78 and Greater Value Sharnam in Sector 107 — within a month. Sources said around 2,500 homebuyers will be able to shift into their apartments under the twin projects after the occupancy certificates are given.noida Updated: Sep 07, 2017 22:43 IST
The Noida authority is likely to issue occupancy certificate to two housing projects — Mahagun Moderne in Sector 78 and Greater Value Sharnam in Sector 107 — within a month.
Sources said around 2,500 homebuyers will be able to shift into their apartments under the twin projects after the occupancy certificates are given.
Thousands of homebuyers have been forced to take the protest path after failing to get possession certificates for their homes after builders cited their inability to finish projects in Noida citing fund crunch amid slowdown in the realty sector. The Great Value Sharnam in Sector 107 is three to four years behind schedule.
Homebuyers in Mahagun Moderne, which is a few months behind its finishing date, also want possession as soon as possible.
According to norms, after a housing project gets occupancy certificate, a builder is legally allowed to offer possession to apartment owners.
“We will issue occupancy certificate to one tower in Moderne in next three days as the builder has completed all formalities. But in another Moderne tower, there is some issue so it will take longer to issue occupancy certificates for that tower,” said Atal Kumar Rai additional chief executive officer, Noida authority.
Moderne housing project has a total 11 towers out of which nine have already got occupancy certificates and people have moved in there. Two towers are yet to get occupancy certificates.
In the Greater Value Sharnam project, seven towers have got occupancy certificates.
“The Greater Value Sharnam has got a total of 17 towers out of which seven have been given occupancy certificates earlier. Now, the builder has applied to get occupancy certificates for five more residential towers. But there are some objections made by the homebuyers with regard to those five towers. We hope that we will clear all objections and issue the certificate within a month. We aim to provide flats to around 2,500 homebuyers within in a month in these two towers,” said Rai.
There are total 29 housing projects in which the builders have applied for getting occupancy certificates.
“These builders need to provide required documents so that we can process the applications for occupancy certificates. Also, these builders need to clear land dues to be eligible for occupancy certificates. Around 20,000 homebuyers will get flats once the builders in these 29 housing projects get land dues cleared and submit the required paperwork,” said Rai.
First Published: Sep 07, 2017 22:43 IST