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The state government of UP has decided to set up special camps on Sundays to facilitate the registry of flats belonging to projects of those developers who have shown the green signal to clear recalculated dues under a rehabilitation package. This package has been introduced on the recommendations of a panel headed by a former member of Niti Ayog, Amitabh Kant. Registry Camps in Noida
What Officials Have to Say?
As per the statement of officials, those who are unable to attend the camps on Sundays can get the service on other days at the office of the stamps and registry department. They have added that almost 40 developers in Noida and Greater Noida have agreed to the deal.
Furthermore, the developers will be given a two-year zero-period waiver on interests and fines imposed during the Covid pandemic. In return for this, the developers are supposed to pay 25% of their recalculated dues.
Complete Story from Mr BS Verma’s End
Mr BS Verma, assistant inspector general of Stamps and Registry in Noida has clarified that the decision was taken in a meeting with the officials of Noida Authority. He added that they were told that the number of registering will increase as more developers will be taking a step ahead to agree to the package offered by the government. Also, the Noida Authority has been requested to share the exact number of developers who have agreed to the deal so that the process of registries can be started.
According to him, this action might turn out to be highly significant for the department as it has set a revenue target of Rs 4,728 crores from Noida. By December, the department marked revenue of Rs 2, 662 crore.
Is There Any Concern of Noida Authority?
Amidst all this new action, Noida Authority is concerned about the light response from developers and builders even after 1.5 months since the announcement was made. Out of 57 main realtors, only 13 have agreed to the deal. Also, 10 companies who have the maximum amount of dues including Aims Max Gardenia (1600 cr), Omax (490 cr), and Pan Realtors (380 cr) have not attended the meeting nor applied for the deal.
As a result, the Noida Authority has decided to give the deadline to developers to inform them about their decision on the package. After the deadline, it will be assumed that the developers are not in favor of the deal. So, it will be interesting to see what will happen next!
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