Noida Authority owes Rs 7,800 crore, meeting with 57 defaulter builders on January 6

Noida (Uttam Hindu News): Uttar Pradesh government has implemented the recommendation of Amitabh Kant Committee. After which the path seems to be clear for the flat buyers to get the house of their dreams. All the authorities have also received orders to start work on this as soon as possible. In this series, Noida Authority is going to hold a meeting with the defaulter builders on January 6, in which 57 builders will participate and they will be provided information about their dues. For which Noida and Greater Noida Authority is recalculating the dues of builders.

According to the information received, after this meeting, a meeting will be held with the Chairman of Noida Authority the next day. If NCLT and court cases are removed in Noida, the total outstanding amount is Rs 7,800 crore. Similarly, there is an outstanding of Rs 5,500 crore on a total of 96 projects in Greater Noida.

Noida Authority CEO Lokesh M said, “We have appointed an independent CA to calculate the dues. A meeting of developers of all 57 projects has been called on January 6. The relief given to them for two years will be adjusted against the outstanding amount after adjusting the void period (April 2020 to March 2022) arising out of the Covid pandemic and the NGT order (August 2013 to June 2015). 20 percent of the total dues will be adjusted in Noida Authority. The next day, the agreement made between the builder and the authority will be signed in the presence of the chairman. The matter will then be presented to the Board for final approval.

Once this is done, developers will have to pay the requisite 25 per cent of the dues within 60 days and obtain the necessary NOC to start construction of the stalled projects. Home buyers who have possession of their flats in these projects without registration will have to hand over the title. The same process will happen in Greater Noida Authority also.” Let us tell you that there are more than 1 lakh home buyers in both the cities, who will get benefits in the form of registry of their flats and possession of their properties. Of the Rs 1 lakh, 68,000 are in 96 defaulted projects in Greater Noida, and more than 32,000 are in 57 projects in Noida.