Noida Govt demands Realtors to clear all Pending Registries by December 31

In order to avoid facing repercussions, the Greater Noida authorities has instructed realtors to make sure that all outstanding unit registries in their individual developments are completed in favor of homebuyers by December 31.

According to officials, the authority would not provide the realtors with the relevant waivers on interest imposed on financial obligations in housing projects if they do not comply.

The Greater Noida authority's CEO, Ravi Kumar, has also ordered stern action against builders who keep delaying the registration of apartments. In the boardroom of the authority's main office in Sector Knowledge Park-5, ACEO Srivastava met with the builders on Thursday.

Srivastava attended a presentation with other officials regarding each housing project that has outstanding registries. Builders have deposited 25% of the total sum (both full and partial) for these projects. Of the 62,912 apartments in these developments, 38,661 have received completion certifications. Approximately 31,600 apartments have been registered thus far.

 A register of roughly 7,000 apartments in 34 builder projects is still pending. In an effort to address the concerns of homebuyers, the authority is working to register these apartments, which have not yet been registered despite the UP government's waivers.

Regarding this, Saumya Srivastava, Additional Chief Executive Officer (ACEO), Greater Noida, says, “This is the last chance for builders. After this notice, the realtors not registering flats by December 31 will not be given any more time. The authority will take action and will withdraw the relief on interest granted to housing projects following the recommendations of the Amitabh Kant Committee”.

“We have directed the building department of the authority to lay more emphasis on registry to flat buyers or to cancel the allotment of erratic builders. Of the total 98 projects in Greater Noida, 76 are covered under the policy prepared on the recommendations of the Amitabh Kant committee,” the ACEO added.