March 1, 2024: In a bid to resolve the issue of legacy stalled projects of group housing in Noida, a camp will be organised to register flats on March 1, 2024 in the premises of Express Zenith Society in Sector 77. This is in line with recommendations of the Amitabh Kant Committee report.
As per media reports, over 100 registries are expected on the first day of the camp and overall registries of more than 13,000 flats are to be done in the long term.
This development is a result of the meeting between Noida Authority CEO Lokesh M and the CREDAI. According to the official statement, the CEO of Noida Authority had requested the CREDAI officials to comply with the government order dated December 21, 2023 under which all concerned builders should give their consent and deposit 25% of the pending dues so that the sub-lease document can be executed in favour of the flat buyers.
According to media reports, CREDAI western Uttar Pradesh secretary Dinesh Gupta said while all recommendations of the committee were not accepted, around 57 developers who have projects in Noida have given their consent to the relief package which offers a zero period relief waiver. With this, developers would get upto 15-20% of the total pending dues. While developers deposited part of Rs 80 crore in February last week with the Noida Authority, around Rs 1,000 crore will be deposited in the next few days that will pace the registration of over 6,000 flats.
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With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
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