Noida Authority, Greater Noida Authority and Yamuna Expressway Authority have so far registered 8,000 flats after payment of dues.
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Buyers in Noida and Noida Extension, also known as Greater Noida West, will soon be reportedly able to get the flats registered in their names in these areas. According to reports, a meeting chaired by Uttar Pradesh’s Chief Minister was conducted on August 24. Reportedly, in this meeting, there was a discussion on the early registration of more than 63,000 flats. CM Yogi Adiyanath has directed the authorities to take strict action against the developers to recover the dues. The authorities are ordered to confiscate the vacant land and seize the flats and projects that have not been sold.
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As per reports, the builders and developers have built and sold flats and also given their possessions to the people. The families have also started living in these flats but have not been able to get the ownership rights of their property. The registry of 63,418 flats in 161 projects in Noida and Noida extension has not been completed.
Now reportedly, under the relief package brought by the UP government, builders and developers can start registration of their flats by paying 25 per cent of the dues. 93 out of 161 developers have opted for this package and have also deposited Rs 905 crore with the authority to start the registry. Now another Rs 2,244 crore has to be deposited for 68 projects.
Noida Authority, Greater Noida Authority and Yamuna Expressway Authority have so far registered 8,000 flats after payment of dues. The registration of the remaining flats will be done in 2025. The real estate organization National Real Estate Development Council (NAREDCO) has written a letter to the Urban Housing Ministry demanding more time for the developers. However, the government’s emphasis is more on early registration of home buyers.
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60 per cent of the projects in these areas are stuck due to the non-payment of the land dues with its three industrial authorities. Reportedly, the builder and developer have not paid the land dues to the authorities and thus the buyer’s flats have not been registered to date. The home buyers living in these flats have not yet been able to receive the ownership rights of the property. Home Buyers are the people who buy or expect to buy a house. Not being able to get the flats registered in their names is the biggest issue for home buyers in Noida and Greno West.
