In a significant move benefiting 1,235 homebuyers in Noida, the Yamuna Authority has granted an occupation certificate to Oasis Grandstand, a sought-after condominium situated in Sector 22D. This crucial step has paved the way for the registration of flats, offering much-needed respite to anxious homeowners. Furthermore, the Authority has greenlit the layout for approximately 600 plots within the SDS Infracon township located in Sector 26 A, marking a positive stride towards the completion of this long-awaited project.
The Noida Homebuyers Relief journey to this milestone has been marked by persistence and collaborative efforts. SDS Infracon initiated the township project back in 2010, boasting over 1,400 plots. Now, with the approval of layouts for 586 plot buyers, a significant portion of the project is set to see tangible progress. These buyers, whose registries had previously been stalled due to builder-related dues, can now proceed with the construction of their dream homes, bringing relief and fulfillment to eager homeowners.
However, challenges still linger as registries for over 800 plots in the township remain pending. To address this issue, the Yamuna Authority plans to present a proposal during its forthcoming board meeting on March 12. This proposal aims to extend the benefits of the two-year Covid ‘zero period’ to homebuyers awaiting registry in various residential projects. Under this initiative, homebuyers may be exempted from paying interest or penalties, particularly those imposed due to the additional farmer compensation of 64.7% during the registration of their flats.
YEIDA CEO Arun Vir Singh emphasized the Authority’s commitment to easing the financial burden on homebuyers. Notably, if approved by the board, homebuyers would be relieved from interest and penalty charges associated with the additional compensation amount and lease rent, payable directly to the Authority during registry processes.
Furthermore, builders opting for Uttar Pradesh’s rehabilitation package for stalled projects will be required to extend the ‘zero period’ benefit to homebuyers from April 2020 to March 2022. This move underscores a concerted effort to alleviate financial strains on flat buyers and foster trust and transparency in the real estate sector.
In conclusion, the recent developments herald a new dawn for homebuyers in Noida, offering tangible progress and relief from prolonged uncertainties. With concerted efforts from stakeholders and proactive measures from the authorities, the path to homeownership becomes clearer, marking a promising chapter in Noida’s real estate landscape.
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