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Noida Authority to assess builder compliance and real estate project delivery status at Oct 3 Board meeting
The Noida Authority will meet on Oct 3 to discuss more than 20 proposals including the review of the unified policy that regulates allotments, payment schedules
The Noida Authority will meet on October 3 to discuss more than 20 proposals including the review of the unified policy that regulates allotments, payment schedules, and approvals across the three authorities. The board will also assess builder compliance and real estate project delivery status, a report published in the Hindustan Times said.
The newspaper quoted officials as saying that the records of funds deposited under the Amitabh Kant committee will be presented, along with registries of flat buyers. Guidance will be sought on action against defaulting builders to ensure timely project completion and protect homebuyers’ interests.
The Noida Authority board will also discuss issues such as approval of a new waste management plant, fixing water meter charges, and budgetary allocations for the upcoming Jewar International Airport.
The meeting will be chaired by industrial development commissioner and authority chairman Deepak Kumar.
“The board will discuss and finalise important agendas related with the development in the city,” Lokesh M chief executive officer of the Noida Authority told the Hindustan Times newspaper.
Unified policy that governs allotments, payment schedules
Among the top items is a review of the unified policy that governs allotments, payment schedules, and approvals across the three authorities. Currently, payment timelines vary with some schemes requiring clearance within 60 days and others within 90 days creating confusion for developers and buyers. The board is expected to consider standardising these timelines and streamlining operational processes, the newspaper report said.
The unified policy aims to integrate land reforms across Noida, Greater Noida, and YEIDA, ensuring uniformity in allotment and development processes. Proposed changes include standardising payment timelines, simplifying approval procedures, and resolving inconsistencies across various schemes. These revisions are intended to clarify compliance requirements for both developers and buyers and reduce disputes related to allotment deadlines.
Builder compliance and real estate project delivery
The board will also review builder compliance and project delivery. Officials told the paper that records of funds deposited under the Amitabh Kant committee will be presented, along with registries of flat buyers. Guidance will be sought on action against defaulting builders, to ensure timely project completion and safeguard homebuyers’ interests, the newspaper said.
Approval of a 300 tons per day integrated waste management plant in Noida
Another major proposal includes the approval of a 300 tons per day integrated waste management plant in Noida. Officials told the paper that the plant will generate electricity, produce fertilizer from organic waste, and supply treated water, tackling environmental and municipal challenges in one move.
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The agenda also includes finalising water meter unit charges, a long-pending issue. Though meters have been installed across Noida over the past two and a half years, the authority has not fixed standard unit rates. The meeting is expected to settle the matter.
Budgetary allocations for the Jewar International Airport project will also be taken up, alongside approvals for ongoing urban development works, the newspaper said.
