In March, Greater Noida flat buyer registries saw a significant development as 1,366 flat buyers in stalled projects finally got their registries done, securing ownership rights after years of delay. This was in line with recommendations from an expert panel led by Amitabh Kant. The Greater Noida Industrial Development Authority (GNIDA) has also asked builders of 28 more projects to pay pending dues, which could lead to registries for around 4,500 more flats soon.
The implementation of the Amitabh Kant committee’s recommendations has enabled the registration of 15,000 flats in 94 projects in Greater Noida. The process has begun for 1,366 flats in 16 projects, with plans to start registries for the remaining 78 projects soon.
The Yogi Adityanath government has provided relief to thousands of flat buyers in 94 builder projects in Greater Noida. The government extended a zero period benefit from April 1, 2020, to March 31, 2022, due to the COVID-19 pandemic.
To expedite completion of projects, the policy of co-developers was approved. Additionally, the benefit of a zero period from August 14, 2013, to August 19, 2015, was considered for projects within a 10 km radius of the Okhla Bird Sanctuary, following NGT orders.
Important decisions were made, including providing a free period for completing builder projects within three years and not canceling lease deeds of projects in which flat buyers are interested for the next three years. Due to these decisions, flat registrations have now started.
Builders of 16 projects have deposited 25% of their total dues, amounting to about Rs 73 crore, enabling the registration of flats in these projects. For the remaining 78 projects, builders have promised to deposit 25% of the amount by April, totaling approximately Rs 715 crore.
A total of 15,000 flats are expected to be registered in all these 94 projects. The Greater Noida Authority is also working to quickly resolve disputes of projects in court over additional compensation, so that flat buyers can be registered soon.
The registered 1,366 flats last month include projects by Gaursons Hitech, Jindal, Ace City, AIIMS Golf Town, Gaur Sons Promoters, Valencia Homes, among others.
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