SC directs Noida Govt to issue Registry permissions to protect Homebuyers Interests

The Supreme Court issued an order on September 27 directing the Noida Authority to issue registration permits to safeguard buyer’s rights.

A ‘recall plea’ has been filed in the Supreme Court by the Noida authority to recover 193 crores in outstanding dues from Hacienda Project Pvt Ltd (HPPL), the developer of the Lotus 300 housing project in Sector 107.

The Supreme Court issued an order on September 27 instructing the Noida authority to issue registration permits to safeguard buyers' rights, ignoring the developer's unpaid fees.

HPPL had failed to meet its financial obligations for the project, as HPPL had failed to clear its financial obligations.

A recall petition has been filed asking the Supreme Court to reconsider its September 27, 2024, decision. The Noida Authority will lose 193 crores in government revenue if it doesn't revise. The aim of this plea is to safeguard the financial interests of the authority, according to Ravi Prasad Gupta, the chief legal advisor to the Noida Authority.

Vaibhav Gupta was appointed as a nodal officer to oversee the project's formalities following the apex court's September order. 102 apartments in Towers 1 and 2 that already have occupancy certificates will be issued in the first phase. The second phase, when the necessary paperwork is done, will address towers 3 to 6, which don't have these certificates.

In response to a writ petition by homebuyers, the Allahabad High Court directed the Noida Authority in February 2024 to proceed with the registration for Lotus 300 without requiring a "no-dues certificate" from the developer. But the authority approached the Supreme Court claiming that it wanted to recover its 193 crores in land cost dues, but failed to get a favorable decision.