The registration of 20,000 more flats is likely to be permitted by the Authority in two-three months, and discussions regarding the same are already underway.

The Greater Noida Industrial Development Authority (GNIDA) has permitted the registration of around 5,200 flats in 19 projects. These registrations are pending because of several issues, including builders’ dues, non-issuance of occupancy certificates (OCs), non-completion of projects, etc., people aware of the matter said.

They also said that registration of as many as 20,000 more flats is likely to be permitted by the Authority in a few months, as meetings in this connection are being held with the concerned stakeholders, including developers and homebuyers.

A GNIDA official said, on condition of anonymity, that the Authority is of the view that homebuyers should not suffer, hence it has permitted the registrations.

Apart from this, the Authority is also preparing a report on stuck projects based on the recommendations of the central government-appointed Amitabh Kant committee, to further resolve issues pertaining to builders’ dues and benefit homebuyers. The report will be submitted to the state government for due action, the official said.

Representatives of the Confederation of Real Estate Developers' Associations of India (CREDAI), Western Uttar Pradesh, said that registrations of all 5,200 units will be executed before the festive season kicks in in October.

Dinesh Gupta, Secretary, CREDAI (Western UP) said that they  had held a number of meetings with GNIDA Chief Executive Officer (CEO) NG Ravi Kumar, where they discussed the payment of developers’ dues, reconstruction of stuck projects per the recommendations of UPRERA, and the available remedies and options.

"The registrations were pending because of small issues such as lack of completion certificates (CCs) and Occupation Certificates (OCs), unpaid time-extension charges, etc. These issues have been sorted, and developers who have cleared their dues can now give possession of the units by executing their registrations,” Gupta told Moneycontrol.

He added that the registration of nearly 20,000 flats across 25 projects in Greater Noida is also likely to be permitted in the next two-three months, as developers and the Authority are working on resolving outstanding issues.

Gupta also said that the developers’ body is “working diligently” to ensure completion of projects and clear their dues with the development authorities. “We hope that other recommendations of the Amitabh Kant panel will also be implemented soon, to benefit homebuyers and revive the real estate sector,” he added.

The Amitabh Kant panel had proposed a moratorium on payments that builders owe land-owning authorities. This would enable developers to improve their finances and complete delayed or stuck housing projects, with the provision that builders would clear their dues in stages. The committee also suggested that a reasonable interest rate be charged and that the focus should be on completing the projects.

Homebuyers happy

Pramod Kumar Dixit, who has invested in a project in Noida Extension, welcomed the move and said that it would benefit homebuyers. “We have been waiting for the registration for the last one year. GNIDA was not allowing it because of pending dues of the builder. Homebuyers should not suffer because of builders’ dues or any other administrative issues,” Dixit added.