Noida: Of the 57 real estate developers involved in stalled heritage home projects in Noida, 20 have paid 25 per cent of the dues so far after a relaxation was given to complete the registration process of home buyers, the local authority said on Thursday.
After a meeting chaired by its CEO Lokesh M, the Noida Authority said it would "get around Rs 450 crore in future from these 20 builders".
"The four builders have deposited 25 per cent of the total amount of Rs 83.47 crore and partial amount of Rs 53.68 crore. Thus, the authority received a total of Rs 224.45 crore till May 9, 2024," it said in a statement.
“As per the state government order dated December 12, 2023, to resolve the problems of the stalled legacy real estate projects, 2 builders out of a total of 57 builders have deposited Rs 170.77 crore – the total calculated after discounting 25 per cent of the amount payable,” the authority said.Long pending registries and delay in possession of flats continue to be a problem in Noida and Greater Noida, with the UP government also emphasizing on resolving the problems of home buyers in line with the recommendations of the Amitabh Kant panel on stalled projects.
The authority said there are 18 builders who have agreed to deposit 25 per cent of the amount and some in Sectors 76, 78 and 168 have assured that they will deposit the amount soon.
The authority said 1,604 registrations are to be done by 20 builders, who have deposited 25 per cent of the total dues.
The statement said some builders informed the authority that around 200 registries would be done in their projects in the coming weeks under a special drive for home buyers and assured to expedite other pending registries as well.
During the meeting with the Noida Authority, CREDAI was represented by its Patron Geetamber Anand, Chairman Amit Jain Secretary Dinesh Gupta, which functions under the Ministry of Industrial Development of the UP government.A similar registry review meeting was held at the Greater Noida Authority on Wednesday by its CEO NG Ravi Kumar with CREDAI representatives and developers of 97 projects in the city.
After a meeting chaired by its CEO Lokesh M, the Noida Authority said it would "get around Rs 450 crore in future from these 20 builders".
"The four builders have deposited 25 per cent of the total amount of Rs 83.47 crore and partial amount of Rs 53.68 crore. Thus, the authority received a total of Rs 224.45 crore till May 9, 2024," it said in a statement.
“As per the state government order dated December 12, 2023, to resolve the problems of the stalled legacy real estate projects, 2 builders out of a total of 57 builders have deposited Rs 170.77 crore – the total calculated after discounting 25 per cent of the amount payable,” the authority said.Long pending registries and delay in possession of flats continue to be a problem in Noida and Greater Noida, with the UP government also emphasizing on resolving the problems of home buyers in line with the recommendations of the Amitabh Kant panel on stalled projects.
The authority said there are 18 builders who have agreed to deposit 25 per cent of the amount and some in Sectors 76, 78 and 168 have assured that they will deposit the amount soon.
The authority said 1,604 registrations are to be done by 20 builders, who have deposited 25 per cent of the total dues.
The statement said some builders informed the authority that around 200 registries would be done in their projects in the coming weeks under a special drive for home buyers and assured to expedite other pending registries as well.
During the meeting with the Noida Authority, CREDAI was represented by its Patron Geetamber Anand, Chairman Amit Jain Secretary Dinesh Gupta, which functions under the Ministry of Industrial Development of the UP government.A similar registry review meeting was held at the Greater Noida Authority on Wednesday by its CEO NG Ravi Kumar with CREDAI representatives and developers of 97 projects in the city.
