The Greater Noida Industrial Development Authority (GNIDA) has held a meeting with real estate developers from industry body CREDAI, instructing them to expedite the payment of dues and ensure the registration of flats in numerous projects across the area. This directive comes amid growing concerns raised by the Uttar Pradesh government and a panel led by Amitabh Kant, which has emphasized the need to address the grievances of homebuyers. GNIDA CEO N G Ravi Kumar has instructed builders to immediately proceed with the registration of flats in the names of the buyers. Those who have not deposited 25% of the total outstanding amount on their projects have been given a week to make the payment and initiate the registration process. Failure to comply will result in action being taken against them, according to an official statement. The meeting was attended by several CREDAI officials, including Manoj Gaur, Geetamber Anand, and Dinesh Gupta. GNIDA is actively working towards flat registrations based on the recommendations of the Amitabh Kant-led committee. A total of 96 projects in Greater Noida require registration. “Out of these 96 projects, there are 15 in which there are no dues. The flats in these projects are being registered. So far, 2,322 flats have been registered in these 15 projects. Apart from this, there are 40 projects whose builders have deposited 25% of their total outstanding amount of around ₹276 crore to the authority,” the statement said. “Around ₹1,200 crore more is to be received from these 40 projects. After depositing 25% of the amount, registration has started in these projects as well. Of these, 315 flats have been registered so far. The registration process will begin for the remaining 41 projects as soon as 25% of the amount is deposited,” it added. The CEO directed the 40 builders who have begun the registration process by depositing 25% of the amount to complete it swiftly. The 41 builders associated with projects who have not yet deposited the required amount have one week to complete the payment. “Otherwise, after this period, the authority will take strict action against these builders. Action will be taken up to cancel their sublease and the property would be attached,” Kumar stated. CREDAI western UP secretary Dinesh Gupta informed PTI that during the meeting with top GNIDA officials, the developers requested an extension until the end of July to complete the payments. “Currently, Lok Sabha elections are underway and the model code of conduct is in force due to which the developers are facing difficulties with financial transactions. We have requested time till July 31 so that once the elections are over, we can approach banks and other avenues for funds, and it could be processed,” Gupta explained. “The officials said they would consider our request for a time extension,” he added.
GNIDA Directs Builders to Ensure Flat Registries, Pay Dues in Greater Noida
