GNIDA Meeting with Real Estate Developers: Addressing Flat Registration Delays
In a recent GNIDA meeting with real estate developers from CREDAI, the pressing issue of pending flat registrations and delayed possession in Noida and Greater Noida was discussed. The Uttar Pradesh government and a panel led by Amitabh Kant are also working to address the concerns of homebuyers, builders, and local authorities.
During the GNIDA meeting with real estate developers, GNIDA CEO N G Ravi Kumar instructed builders to expedite flat registrations in buyers’ names. Builders who haven’t paid 25 per cent of the outstanding amount were asked to do so within a week to avoid penalties.
Representatives from CREDAI, including Manoj Gaur and Geetamber Anand, were present at the GNIDA meeting with real estate developers. GNIDA aims to register flats based on Amitabh Kant’s committee recommendations. Out of 96 projects, 15 have no outstanding dues, and 2,322 flats have been registered. Additionally, 40 projects have paid 25 per cent of the outstanding amount, totaling around Rs 276 crore, with 315 flats already registered. Registration will start in the remaining 41 projects once they make the payment.
GNIDA plans to take strict action against builders who fail to complete payments within a week, including canceling subleases and attaching properties. CREDAI requested an extension until July 31 due to financial difficulties during the ongoing Lok Sabha elections, which GNIDA is considering.
The GNIDA meeting with real estate developers highlights efforts to resolve issues faced by homebuyers and builders, showing a commitment to streamline processes and ensure timely possession of flats.
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