Noida Authority has taken a major decision regarding stalled real estate projects in the city. Under this decision, registration proceedings can be carried out as per rules in favor of approximately 5758 flat buyers. Currently, registrations for 3724 buyers have been successfully completed.
UP News: Noida Authority has presented a detailed report on the measures implemented under Amitabh Kant's recommendations to resolve the issues of old and stalled real estate projects. According to the report, a total of 35 projects have successfully availed the benefits of this government order, which accounts for approximately 60% of the total developers.
Furthermore, details regarding the deposit of funds and completion of registration in 57 projects have also been presented. This initiative is part of the Authority's efforts to ensure transparency and timely completion of projects in the real estate sector.
Review of Stalled Projects
Noida Authority prepared a detailed report on builders based on Amitabh Kant's recommendations implemented to resolve the problem of old and stalled real estate projects. The report stated that a total of 35 projects successfully complied with the government order, which accounts for 60% of the total developers. Information on the status of fund deposits and registrations in 57 projects was also provided.
It was also revealed during the board meeting that 10 projects failed to make payments despite their consent. 13 developers deposited only 25% of the funds, while 35 projects did not take any further action after depositing 25%. The Authority clarified that the deadline under the government order will not be extended further, and overdue amounts will be recovered as per its rules.
Plots with Incomplete Construction to be Cancelled
Noida Authority has also decided that all vacant plots in residential plots and group housing societies where construction has not taken place despite the maximum period of 12 years will be cancelled. For plots with incomplete construction, a final opportunity of six months will be given to complete the buildings and obtain the completion certificate.
The Authority has approved the establishment of an Integrated Municipal Solid Waste Management Plant with a capacity of 300 TPD for the disposal of municipal solid waste generated from various sectors and villages in the area. This step has been taken under the guidelines issued by the NGT and the Central Pollution Control Board.
Additionally, STPs (Sewage Treatment Plants) with capacities of 25 MLD in Sector 50, 33 MLD in Sector 54, 35 MLD in Sector 123, and 50 MLD in Sector 168 have been approved. The total cost of these projects will be approximately Rs 87.6 crore.
