New Delhi. This is big news for thousands of flat buyers in Noida. It is believed that soon the way for registration of their flat will be cleared. There are about 35 thousand such flat buyers in Noida, who got the possession of their house many years ago but till date it has not been registered. Because of this he no longer has the ownership rights of his own house. Now Noida Authority has started taking strict steps in this direction and has started putting pressure on builders to register home buyers.
Earlier, the committee formed under the leadership of former CEO of NITI Aayog Amitabh Kant has submitted its report to the Noida Authority. On the basis of this report, the authority has now started pressurizing the builders for early registration. These builders have not yet deposited the outstanding fees of the authority, due to which they are not being given permission to get registered. The direct effect of this arbitrariness of the builders is visible on the home buyers. But, after the meeting held last week, the expectations of the registry have once again increased.
What steps did the authority take?
Noida and Greater Noida Authority, after last week’s meeting, have started tightening the noose on builders who are not paying the dues to the authority. Based on the recommendations of the Amitabh Kant-led committee, the authority has decided that all benefits will be withdrawn from builders who are willfully not paying their dues and whose registry of buyers is stuck. The Greater Noida Authority Board has also issued an order to take action against 13 such builders.
Dues not deposited even after rebate
Greater Noida Authority said that after the recommendations of Amitabh Kant’s committee, builders were given exemption that if they pay 25 percent of the dues then they can be given exemption for registration. Despite this, 13 builders did not deposit this fee, due to which the registry of more than 35 thousand flats is still stuck. Kant’s committee had submitted its recommendation for registration of incomplete projects in the year 2023 itself, after which continuous steps are being taken for the interest of flat buyers.
85 builders took advantage of the discount
Amitabh Kant’s committee had made its recommendations in the year 2023, after which till now 85 out of 98 builders have taken advantage of it. The 13 builders who have not deposited the money yet include big names like AVJ Developers (Sector Beta II), Elegant Infracon (Sector Techzone-4), Antriksh Engineering (Sector-1). The board of the authority has said that while taking any action against the builders, it will be kept in mind that the interests of the home buyers are completely protected.
18 thousand flats have been registered
Since the report of Amitabh Kant’s committee came out, thousands of people have benefited from it. Noida and Greater Noida Authority gave relaxation to many builders on the basis of Kant’s recommendations and they also took advantage of it. With this, more than 18 thousand people have got success in getting their flats registered. However, till now 13 builders have not taken any step in this direction and closure of all their facilities is being considered. The board of the authority has also issued orders in this regard.
Preparation to recover money from stuck project
The government has talked about bringing a new law to provide relief to home buyers stranded in thousands of projects across the country. Under this law, after initiation of bankruptcy process against a project, now only home buyers, banks and defaulters will get its benefit. No benefit will be given to the accused company or promoters in this. According to an estimate, the money of about 4.12 lakh home buyers in the country is stuck in bankrupt companies. Many of these projects are incomplete and Rs 4.1 lakh crore of banks are also stuck in them.
