Authority of Noida is kicking off a flat registry camp to deal with the issue of stalled housing projects. The flat registry camp intends to ease the process of registration of more than 13,000 flats with a projected 100 registrations on the first day of camp.
This significant move of Noida authority obtains after a week of Lokesh M, CEO of Noida Authority seized a meeting with prominent industry organization CREDAI to determine the issue of legacy stalled projects along with the Amitabh Kant Committee report’s suggestions. In a statement, the Noida Authority said that the camp will be launch on the site of Express Zenith Society in Sector 77.
The statement added, "The Chief Executive Officer of Noida Authority had requested the officials of CREDAI that in accordance with the government order dated December 21, 2023, issued in relation to the legacy stalled projects, all builders concerned should give their consent and deposit 25 percent of the pending dues amount so that the sub-lease document can be executed in favor of the flat buyers".
On this regard, Secretery of Western Uttar Pradesh CREDAI, Dinesh Gupta stated that about all of the 57 developers holding flat projects in Noida have submitted their approval to the relief package.
While giving a statement to PTI, Gupta told, "Not all the recommendations of the Amitabh Kant Committee report have been accepted by the local authority but now CREDAI has accepted whatever relief has been offered which is zero period interest waiver (on delay during the two-year Covid period)”.
Further he added, "The developers would get a benefit of a maximum of up to 15 percent or 20 percent of the total pending dues”.
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