Builders start registration in 15 days, otherwise project will be cancelled… Greater Noida Authority blunt words Trending Global News

Noida: Uttar Pradesh’s Greater Noida Industrial Development Authority (GNIDA) has issued strict instructions to builders to initiate the flat registry process for buyers within 15 days. The authority has warned that there will be dire consequences if the instructions are not followed. This includes canceling the project and handing over the case to the Economic Offenses Wing (EOW). Officials reported this on Sunday. Let us inform you that Uttar Pradesh Chief Minister Yogi Adityanath recently directed that the registration of flat owners who have been waiting for many years to get the ownership rights of their houses should be completed expeditiously. should be done

Authority CEO Ravi Kumar has directed the builders department to hold meetings with developers and prioritize them for flat registration. Officials said that if the matter is neglected, the allotment of land will be cancelled. GNIDA Additional CEO (ACEO) Soumya Srivastava said that the authority is committed to protect the interests of home buyers and ensure timely registration of flats. Builders who fail to initiate the registration process within 15 days will face strict action including cancellation of allotment of land. We request all the builders to comply with this process and speed up the process to avoid any further serious consequences, he said.

Officials said that builders who failed to deposit 25 percent of their total dues despite taking advantage of the government order issued based on the recommendations of the Amitabh Kant Committee, would face cancellation of allotment of land. will Their cases will be referred to EOW for investigation. We inform you that the Amitabh Kant Committee, headed by eminent Indian bureaucrat Amitabh Kant, has been set up to address the challenges facing the real estate sector in India, particularly stalled housing projects and unresolved disputes between home buyers and builders. was taken for

In a recent meeting chaired by ACEO Srivastava, it was revealed that on December 21 last year, the state government had issued a policy based on the recommendations of the committee. Of the 98 projects benefited by the policy, 13 builders have cleared their total dues and 58 builders have deposited 25 percent of their dues, which is around Rs 505 crore, officials said. As a result, the authority allowed the registration of 9 thousand 558 flats and till September 5, 6 thousand 624 flats have been registered. During the meeting, Srivastava directed the builders to complete the registry of remaining flats without delay. It also said that the registration can be completed for next 6 months without late fee.