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Business News/ Industry / Infrastructure/  Noida authority gives permission to process registries of 13,600 flats in 35 stalled housing projects | Details here
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Noida authority gives permission to process registries of 13,600 flats in 35 stalled housing projects | Details here

Noida authority allows registries for 13,600 flats in 35 stalled projects as developers agree to pay ₹552 crore of ₹2,000 crore total dues.

The Noida authority will be organising camps for registry at housing complexes from 1 March (HT_PRINT)Premium
The Noida authority will be organising camps for registry at housing complexes from 1 March (HT_PRINT)

The Noida authority has given its nod to process the registries of at least 13,600 flats in 35 stalled housing projects. The permission has been granted after realtors gave their written consent to pay land dues, according to a report by the Hindustan Times.

The total dues of the developers is 2,000 crore of which they have agreed to pay 552 crore to obtain the permission for registries for the stalled housing projects.

The 35 housing projects where flats are eligible for registries include The Hyde Park in Sector 78, Prateek Fedora in Sector 61, Apex Dream Homes in Sector 75, Gulshan Homes in Sector 144, Divine Meadows in Sector 108, Golf Avenue in Sector 75, Elite Homes in Sector 77, Gulshan Botnia in Sector 144, Mahagun Moderne in Sector 78, Sunshine Helios in Sector 78, Sunworld in Sector 107, PAN Realtors in Sector 70, ATS Township in Sector 104 and Omaxe Buildwell in Sector 93B, among others as per the HT report.

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Lokesh M, the chief executive officer (CEO) of Noida authority, told Hindustan Times that 12 realtors have already paid their dues and got permission for the registry of around 1,200 apartments.

The CEO said that out of 57 developers, 37 have given their consent to pay dues.

The Noida authority has begun the process to issue permission for the registry of 3,200 apartments as per the rule in 35 stalled housing projects, the CEO informed the daily.

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Noida authority permits registry after developers pay 25% of their total dues as per the Uttar Pradesh government policy. The developers get penal interest for two Covid-19 years.

Therefore, after the deduction of the penal interest, the 35 developers have consented to pay 25% of the total dues.

The registry permission will also be granted in other stalled housing projects once the developers clear the remaining dues, Lokesh M added.

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The Noida authority will be organising camps for registry at housing complexes from 1 March.

The first camp will be organised at Express Zenith Society’s community hall in Sector 77.

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Published: 27 Feb 2024, 10:02 AM IST
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