Noida, Greater Noida Industrial Development Authority (GNIDA) on Wednesday held a meeting with real estate developers of industry body CREDAI, directing them to pay the dues soon and ensure registry of flats in several projects in the area.
With long pending registries and delay in possession of flats being a serious issue in Noida and Greater Noida, the Uttar Pradesh government is also focusing on resolving the problems of home buyers.
At the Centre, too, a panel headed by Amitabh Kant has made recommendations to end the crisis involving home buyers, builders and local authorities.
On Wednesday, GNIDA CEO NG Ravi Kumar directed builders to immediately get the registration done in the names of flat buyers. He asked those builders who have not deposited 25 percent of the total outstanding amount of their projects.One more week and start registration of flats in the name of buyers, otherwise action will be initiated against them,” according to an official statement.
Many officials including Manoj Gaur, Geetamber Anand, Dinesh Gupta of Confederation of Real Estate Developers Association o India (CREDAI) were present in the meeting.
GNIDA said it is making efforts to register the flats based on the recommendations of the Amitabh Kant-led committee, which was formed with the aim of providing homes to flat buyers. There are a total of 96 such projects in Greater Noida in which registries are to be done.
“Out of these 96, there are 15 projects on which there are no dues, the flats of these projects are being registered.So far, 2,322 flats have been registered in these 15 projects. Apart from this, there are 40 such projects whose builders have deposited 25 per cent of the total outstanding amount of about Rs 276 crore with the authority."
About Rs 1200 crore more is to be received from these 40 projects. After depositing 25 percent amount, registration in these projects has also started. Of these, 315 flats have been registered so far.The registration process will start in the remaining 41 projects. As soon as I deposited the 25 per cent amount,'' it said.
The CEO directed that the 40 builders who have started the registry by depositing 25 percent of the amount should complete the registration process soon and the 41 builders associated with the project who have not deposited 25 percent of the amount should complete the payment as soon as possible. Take it. one week.
Kumar was quoted as saying, “Otherwise after this period the authority will take strict action against the builders.“Action will be taken to cancel their sub-lease and the property will be attached.”
CREDAI Western UP Secretary Dinesh Gupta said that during the meeting with top officials of GNIDA, the developers requested for extension of time till the end of July to complete the payment.
"Currently the Lok Sabha elections are going on and the Model Code of Conduct is in force, due to which developers are facing difficulties in financial transactions. We have sought time till July 31 so that after the elections are over, we can make arrangements with banks and other means. For funds and it can be processed,” Gupta said.“Officials said they will consider our request for time extension,” he said.
With long pending registries and delay in possession of flats being a serious issue in Noida and Greater Noida, the Uttar Pradesh government is also focusing on resolving the problems of home buyers.
At the Centre, too, a panel headed by Amitabh Kant has made recommendations to end the crisis involving home buyers, builders and local authorities.
On Wednesday, GNIDA CEO NG Ravi Kumar directed builders to immediately get the registration done in the names of flat buyers. He asked those builders who have not deposited 25 percent of the total outstanding amount of their projects.One more week and start registration of flats in the name of buyers, otherwise action will be initiated against them,” according to an official statement.
Many officials including Manoj Gaur, Geetamber Anand, Dinesh Gupta of Confederation of Real Estate Developers Association o India (CREDAI) were present in the meeting.
GNIDA said it is making efforts to register the flats based on the recommendations of the Amitabh Kant-led committee, which was formed with the aim of providing homes to flat buyers. There are a total of 96 such projects in Greater Noida in which registries are to be done.
“Out of these 96, there are 15 projects on which there are no dues, the flats of these projects are being registered.So far, 2,322 flats have been registered in these 15 projects. Apart from this, there are 40 such projects whose builders have deposited 25 per cent of the total outstanding amount of about Rs 276 crore with the authority."
About Rs 1200 crore more is to be received from these 40 projects. After depositing 25 percent amount, registration in these projects has also started. Of these, 315 flats have been registered so far.The registration process will start in the remaining 41 projects. As soon as I deposited the 25 per cent amount,'' it said.
The CEO directed that the 40 builders who have started the registry by depositing 25 percent of the amount should complete the registration process soon and the 41 builders associated with the project who have not deposited 25 percent of the amount should complete the payment as soon as possible. Take it. one week.
Kumar was quoted as saying, “Otherwise after this period the authority will take strict action against the builders.“Action will be taken to cancel their sub-lease and the property will be attached.”
CREDAI Western UP Secretary Dinesh Gupta said that during the meeting with top officials of GNIDA, the developers requested for extension of time till the end of July to complete the payment.
"Currently the Lok Sabha elections are going on and the Model Code of Conduct is in force, due to which developers are facing difficulties in financial transactions. We have sought time till July 31 so that after the elections are over, we can make arrangements with banks and other means. For funds and it can be processed,” Gupta said.“Officials said they will consider our request for time extension,” he said.
