December 6, 2023: The Greater Noida Industrial Development Authority (GNIDA) has issued occupation certificates (OCs) to more than 20 housing projects and executed around 5,000 registries in the last four months after the developers settled their dues amounting to Rs 100 crore. The stamp duty payments for these transactions generated a revenue of Rs 150 crore for the state government.
According to the rules, the authority issues the occupancy certificate to a housing project only after the promoter pays the land cost dues and obtains a no dues-certificate and completes other formalities, including those related to fire clearance and lift safety among others. At present, around 100 housing projects in Greater Noida have not cleared their land cost dues amounting to nearly Rs 14,000 crore, according to the authority.
As per media sources, the GNIDA officials said that the government is all set to announce a rehabilitation package for developers of stalled projects in Greater Noida based on a report released by a government appointed expert panel. This panel has recommended to delink developer dues from flat registry if the project is integrated into the rehabilitation package.
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