25% Dues Paid by Builders Involved in Stalled Projects Says Noida Authority

As per the statement by Noida Authority, out of 57 real estate developers, only 20 have paid 25% of dues. This took place after the announcement of a registry completion of homebuyers. These developers were associated with stalled legacy housing projects. 25% Dues Paid by Builders Involved in Stalled Projects Says Noida Authority.

25% Dues Paid by Builders Involved in Stalled Projects

Some of them haven’t paid the dues but have promised to do the same in the coming weeks. Let’s see what the Noida Authority has to say on the same!

Statements by Noida Authority

Discussions in the meeting hosted by its CEO Lokesh M took place. After this, the authority shared they are expecting the collection of almost Rs 450 crores in the coming years from these 20 builders.

Upon being asked about the collection, the authority shared that 4 builders have deposited Rs 53.47 crore which stands as 25 percent of the total amount. And in total, the authority has collected Rs 224.45 crore till May 9 this year.

What About Pending Dues?

Well, pending dues and registries are creating a situation of panic in Noida and Greater Noida for a long time. The government of UP is also pushing home buyers to go for registration after the recommendation of the Amitabh Kant Panel.

The builders who have agreed to deposit the due have assured that it will be done in the coming days. Out of them, some belong to sectors like 76, 78, and 168. The authority added that 200 registries are expected by them in the coming days.

Series of Meetings

Noida Authority clarified that they are planning to expedite the pending registries as well. Credai functions under the Industrial Development Ministry of the UP government. It was represented by Geeta Anand, President Amit Jain, and Secretary Dinesh Gupta during the meeting.

In continuation of this meeting, another registry review meeting also took place at the Greater Noida Authority. The meeting was led by its CEO, NG Ravi Kumar in association with other representatives and developers of 97 projects.

Therefore, some more actions on registries are expected with some new changes in the rules. Let’s see what’s new is on the way for us!

Conclusion

All in all, the remaining developers are expected to deposit their dues on time. This needs to be done on time because the Noida authority is also under pressure. It will be interesting to witness the collection of the total amount of dues in the coming days.

Promen Estates is the Best Real Estate Consultancy Company In Noida India. Browse Extensive Range Of Luxury Residential and Top Commercial Properties in India. Get consulting for commercial properties, and plots at prime locations of Delhi NCR.

Read Also:

Know It All About Property Registration Charges And Stamp Duty
India Marks 7% Upsurge in Co-Working Spaces As Per CBRE Report
Noida International Airport is Ready to Take off Soon

Related Posts

YEIDA Launches 361 Plots for Sale near Noida International Airport

The Yamuna Expressway Industrial Development Authority is all set to accelerate the growth around the Noida International Airport. The very first step has already been taken by launching over 361…

Increase in Demand of Retail Space by 15% in Shopping Malls

There has been a sudden increase of almost 15% in the leasing of retail spaces in shopping malls. This happened during the April-June Period and the demand rose to 6.12…

Leave a Reply

Your email address will not be published. Required fields are marked *

You Missed

YEIDA Launches 361 Plots for Sale near Noida International Airport

  • By admin
  • July 24, 2024
  • 303 views
YEIDA Launches 361 Plots for Sale near Noida International Airport

Increase in Demand of Retail Space by 15% in Shopping Malls

  • By admin
  • July 15, 2024
  • 148 views
Increase in Demand of Retail Space by 15% in Shopping Malls

Noida International Airport Jewar Operations by End of April 2025

  • By admin
  • July 5, 2024
  • 234 views
Noida International Airport Jewar Operations by End of April 2025

5 Key Rules to Protect Homebuyers Issues By Uttar Pradesh RERA

  • By admin
  • June 24, 2024
  • 460 views
5 Key Rules to Protect Homebuyers Issues By Uttar Pradesh RERA

Elevate Your Business: GYGY Mentis Office and Retail Spaces in Noida as the Smart Choice for 2024

  • By admin
  • June 16, 2024
  • 280 views
Elevate Your Business: GYGY Mentis Office and Retail Spaces in Noida as the Smart Choice for 2024

Yamuna Authority Will Bring an Amazing Housing Scheme: Book Your Favorite Flat Like an Air Ticket

  • By admin
  • June 8, 2024
  • 584 views
Yamuna Authority Will Bring an Amazing Housing Scheme: Book Your Favorite Flat Like an Air Ticket