Flat Registries in Noida Are About to Start

In Noida, a big announcement has been made for 1,084 home buyers who can now register their flats after a long wait. Seven real estate companies agreed to pay 25% of their total dues in 60 days and the rest in instalments. The government recommended this plan based on the Amitabh Kant committee's suggestions.

Noida Authority will receive about Rs 100 crore in total dues. Some builders, like IITL Nimbus and Capital Infraprojects, have already paid 25% of their revised rights. Homebuyers who waited for their flats for many years are relieved as registrations begin. The developers were given a two-year waiver due to the pandemic, and most got a 21% rebate on their dues. This move is expected to benefit many stalled housing projects in Noida.

In Greater Noida, a similar process occurs, with 10 builders receiving consent letters to restart registrations. The Greater Noida Authority CEO mentioned that 96 projects owe Rs 5,500 crore dues. The Yamuna Authority also plans to issue notes for nine projects, allowing around 10,000 homebuyers to register their homes. The revised dues will be discussed in a board meeting on January 29. This positive development brings hope to many homebuyers waiting for a long time.