Greater Noida Authority Greenlights Registration for 5,200 Flats in 19 Projects
The Greater Noida Industrial Development Authority (GNIDA) has taken the step of allowing the registration of approximately 5,200 flats that are part of 19 ongoing projects. These registrations had been put on hold due to a variety of issues, such as outstanding payments from builders, absence of occupancy certificates (OCs), and project incompletions, among other concerns. According to individuals familiar with the situation, discussions addressing these matters are currently in progress.
In a proactive move, the Authority is anticipated to extend this permission to register an additional 20,000 flats within the next couple of months. Deliberations surrounding this matter are already underway, involving relevant stakeholders like developers and homebuyers. An unnamed GNIDA official emphasized that the well-being of homebuyers is a priority, motivating the decision to authorize these registrations.
Parallel to this initiative, the GNIDA is diligently assembling a comprehensive report centered on stagnant projects. This report is being formulated based on recommendations put forth by the Amitabh Kant committee, a committee appointed by the central government. The primary objective behind this undertaking is to tackle outstanding payments from builders and address any challenges affecting homebuyers’ interests. Once finalized, the report will be submitted to the state government for appropriate actions to be taken.
