Greater Noida Authority Registers 1,366 Flats in a Month, Implements Amitabh Kant Panel Recommendations

The Greater Noida Industrial Development Authority (GNIDA) has achieved a significant milestone by completing registries for 1,366 flats across 16 housing projects in March 2024. This progress comes after the adoption of recommendations from the Amitabh Kant committee, aimed at addressing long-standing issues with stalled projects.

Furthermore, GNIDA has reached out to promoters of an additional 28 projects, urging them to deposit 25 percent of their total dues. This move is expected to grant ownership rights to around 4,500 homebuyers. GNIDA's efforts have paved the way for the registry of 15,000 flats in Greater Noida spread across 94 projects, aligning with the directives of the Amitabh Kant committee.

Under the leadership of Yogi Adityanath, the Uttar Pradesh government has been proactive in resolving registry issues across various regions, including Noida, Greater Noida, Ghaziabad, and Yamuna Expressway. The government's interventions, based on recommendations from the Amitabh Kant Committee, seek to provide relief to homebuyers and expedite the completion of stalled projects.

The rehabilitation package includes provisions for zero periods for developers, wherein penalties and interest are waived, and recalculated dues are rescheduled to facilitate early registries. Developers can avail waivers on penal interest for disruptions caused by factors like COVID-19 and National Green Tribunal orders, upon payment of 25 percent of the total recalculated dues.

These initiatives underscore a concerted effort to address challenges faced by homebuyers and rejuvenate the real estate sector in Greater Noida and its neighboring areas.

Image source- indiainfrahub.com