GNIDA dictates strict action against builders without having registered flats

The Greater Noida Industrial Development Authority (GNIDA) has strictly notified the builders who have deposited 25% of their dues to execute registry of flats at the earliest in their projects where the OC has been issued, or face action.

One of the officials of GNIDA said that, total the registry of 2,637 flats has already been completed across different projects in Greater Noida so far. The developers of 40 projects have deposited the required 25% of their dues with the Authority under the Uttar Pradesh government’s rehabilitation package scheme. The Authority has so far collected dues of nearly Rs. 276 crore. 

A GNIDA official said, “The CEO directed that the 40 builders who have started the registry by depositing 25% of the amount, should complete the registration process at the earliest and the remaining 41 builders, who have not yet deposited 25% of the due amount, should complete the payment and start the registration within a week. Failing to do so, the authority will take strict action against builders that may include cancellation of their sublease and attachment of the property.”

The record says, out of 2.4 lakh flats, around 1.2 lakh flats are yet to be delivered. The possession has already been given but registration is yet to be completed. Taken all the projcts together, there are 96 such projects in Greater Noida where the flats are yet to be registered. There are 15 projects where there are no dues and, 2,322 flats have been registered in these 15 projects so far.

During March 2023, the Union government, had formed a 14-member panel headed by former NITI Aayog chief Amitabh Kant to address the issue of the stuck housing projects. The committee submitted its report in August 2023 and it was sent to states. The Authority allowed the leeway in registrations after the Uttar Pradesh government in December 2023 adopted the recommendations of the Kant committee.