representative image Noida: A total of 8,106 flats were registered Greater Noida Developers came forward to embrace the UP government’s policy from February this year, which aimed to revive stalled real estate projects in the state.
According to a report submitted, another 8,000 flats are likely to be registered by March next year Greater Noida Industrial Development Authority‘S (GNIDA) Board on Sunday.
According to the policy based on the recommendations of a committee headed by retired bureaucrat Amitabh Kant, if builders want zero period exemption on interest incurred during the two years of the pandemic, they will have to pay 25% of their recalculation dues in advance.
The report said that in Greater Noida, developers of 73 group housing projects – comprising 32,435 unregistered flats – had opted for the policy. GNIDA has received around Rs 547 crore from registration of flats this year, with an additional Rs 1,300 crore expected next year.
To protect the interests of home buyers, GNIDA has adopted a tripartite ‘sale agreement’ model, similar to the Noida and Yamuna Expressway authorities. The agreement is signed between the builders, home buyers and the concerned authority after the buyers make 10% advance payment.
This legally binding agreement, required for all future residential projects, ensures timely payment of stamp duty.
Earlier, registration was done only after full payment was made by the buyers. In an effort to standardize industrial plot allocation policies in Noida, Greater Noida and Yamuna Expressway areas, GNIDA and two other authorities appointed SARC and Associates as consultants to develop guidelines for eligibility, lease rent and other processes. Is.
Earlier, the three authorities had constituted a committee to prepare a standard operating procedure (SOP) with inputs from finance controllers and general managers. While they decided to conduct e-auction for plots up to 8,000 square meters and interviews for larger land parcels in August, there was no government order on it. Now a uniform policy is expected to be made based on the recommendations of the consultant.
The Board also approved a new policy to facilitate flat registration in Senior Citizens Home Complex Welfare Societies, where many original allottees have sold their flats without executing sub-lease deeds.
Under the new guidelines, the society will have to provide a list of current occupants and an affidavit, after which GNIDA will issue NOC to enable sub-lease operations.
The 136th GNIDA Board Meeting was chaired by Chief Secretary Manoj Kumar Singh, who is also the President of GNIDA. The meeting was attended by GNIDA CEO Ravi Kumar NG, Noida Authority CEO Lokesh M, YEIDA CEO Arun Veer Singh and Noida DM Manish Kumar Verma, among others.
