Over the next six months, eight thousand new units of propertyin Noida are likely to be registered with the Greater Noida Authorities. The Greater Noida Authority has stated that it is in the process of speedily completing the handover of residential units to their respective buyers.
During past six months, nearly six thousand registrations have been completed in Greater Noida all of which have been constructed by a single builder. However the Greater Noida Industrial Development Authority (GNIDA), not one to rest on past accomplishments, is hopeful that an additional eight thousand homes will be registered in Greater Noida over the six months that lie ahead.
Four developers with five thousand five hundred units have been issued completion certificates by the GNIDA in the past two months. The developments built by these four developers fall in the category of group housing projects. Starting from this week and onwards, four more developers will be provided with timelines with details of when their projects would receive completion certificates.
Greater Noida Authorities Speak
The Additional CEO of the GNIDA has stated publically that those buyers who were yet to receive possession of their houses were being harassed due to the issue of completion certificates. Due to the non-issue of completion certificates, buyers would run from pillar to post simply to procure possession of their own Residential property in Noida.
Speaking to the news media, the Additional CEO of the GNIDA stated that his organisation has provided completion certificates to four projects during the past two months. According to the Additional CEO, these completion certificates were provided to the four projects after the GNIDA had fulfilled all compliance issues that fell under its purview.
It was stated by the Additional CEO of the GNIDA that soon registrations for these newly completed projects would begin following which buyers would be granted procession of these flats.
The process of issuing completion certificates for 634 units by one builder in one project would begin from today. A further 1,500 units in the same project by the same builder would also be granted completion certificates at a later date. Furthermore on the completion certificate anvil are 300 units in a project by different builder than the ones mentioned above. It has also been revealed that in the process of begin awarded completion certificates are units in a project by a third builder.
According to the ACEO, many builders have already deposited their outstanding dues to the GNIDA. The ACEO has revealed that from the 1st of November last year, his authority has collected 607 crore rupees from builders.
According to the ACEO of GNIDA, eleven more Real estate developers in Noida are in the process of adhering to a rescheduled payment plan. The goal of making deadlines closer to the current date is so as to be able to hand over flats to buyers at the earliest.