UP-RERA working with state government to end flats registration deadlock

up-rera-working-with-state-government-to-end-flats-registration-deadlock

Thousands of home buyers are waiting to register their apartments due to a deadlock because of the dues between developers and authorities. To put an end to the ongoing registration delays in Noida and Greater Noida, the UP-RERA has requested guidance and directions from the state government.

It is estimated that more than 50,000 home buyers are still waiting to register their apartments in the area. Due to the lack of a payment plan from local authorities, district developers are unable to pay their pending dues and the registration of many finished apartments has been halted for several months.

What RERA Officials said?

Balvinder Kumar, a member of, UP-RERA said. This is a serious problem in Gautam Budh Nagar area. The problem is increasing and several builders have to pay money to the local authorities. Builders aren’t getting OC and CC and registration fails because of this. If builders have four mandatory certificates, we will give possession of flat to the buyers. Under this regulation, possession is granted, but buyers can not search their apartments. We are trying to solve this issue and have also asked the state government to intervene in this issue. We have also requested some instructions from the state government so that buyers can register their apartments as soon as possible.

What do Builders / Developers said?

Developers believe that a higher interest rate is calculated and there is a delay in the registration of flats due to the lack of clear instructions or guidelines.

RK Arora, president, NAREDCO UP, said. Noida authorities, GNIDA, YEIDA do not allow registration due to outstanding dues for calculating higher interest rates. The authorities have not yet complied with the SC order to reduce interest rates. Completion at the authorities level is also pending. This is a serious issue because registration is delayed.

Unable to sell my flat!

Some buyers also postpone the registrations as they have spent most of their liquidity when taking over their apartments. Experts say, so they had taken some time to be able to manage the registration fee.

This year, in January, due to the long delay, authority of Noida allowed private developers to pay their lease rent in installments. This decision helped an estimated 30,000 home buyers awaiting registration of their properties.

Nitesh Sharma, a buyer from Greater Noida West said. “I received my apartment 8-9 months ago but am still waiting to register my apartment. But now I am planning to move to a larger area by selling this flat. But due to the long delay in the registration process, I can not sell this property. I hope this deadlock ends and we can register our property so we can sell or improve our units.”

Prasoon Chauhan, founder & CEO, BlackOpal Group, said. The liquidity problem in the real estate sector affects the proper functioning as we have witnessed the redirection of money raised for registration to other activities. Buyers also move into their homes and delay huge registration costs. However, we recommended that you complete all required registration documents before shifting to your apartment.

UP-RERA working with state government

UP-RERA is now working with the state government to find a solution to this problem so that the finished floors get registered. And the deadlock issue between authorities and developers is resolved. Many buyers are unable to sell their properties due to lack of registration and some are forced to sell such properties at very low market prices.

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Noida Authority taking Action against Builders for Delaying Registry of Flats

noida-authority-taking-action-against-builders-for-delaying-registry-of-flats

Noida authority intimidated to take action against developers who offered properties to buyers without a registry of flats.

The Noida Authority conducted an inspection or checked 18 housing societies and found people living in them for 4-5 years without a registry, leading to a loss of revenue for the state government.

Noida Authority conducted a meeting with developers- 

Several developers including Mahagun, Imperial housing, Supertech, Prateek realtors, Aims max, Antriksh developers, and Sikka attended the meeting.

The authority has given 3 months to complete the registry. And is organizing a camp with the help of revenue and tax department to ease the process. It has also said that instead of paying dues immediately, the developer can pay the dues at the time of registry of apartments.

In the meeting the authority said- “Builders need to complete paperwork in March. The Real Estate Regulatory Authority  (RERA) was also asked to take the necessary measures in this regard.”

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Noida Authority Proposes To Build Two Bridges

Noida Authority has, on last Friday, said that they are planning to construct two bridges across the Yamuna to facilitate better connectivity between Noida and Faridabad.

DELHI NCR: Noida Authority believes that the troubles of the daily commuters of Noida will be cut short if two bridges across the Yamuna are built. With this proposal the authority has approached Haryana Urban Development Authority. Continue reading

Noida flat buyers stumble at Registration hurdles

Noida and Greater Noida development authorities have warned the default developers. The authorities have asked them to pay the due amount or to be ready for facing severe actions from the part of authority.

Home buyers are affected by the new decision of  Noida Authorities not to sanction the layout plans of default developers.

Home buyers are affected by the new decision of Noida Authorities not to sanction the layout plans of default developers.

It seems there is no end for flat buyers in Noida and Greater Noida. The latest registration hurdles has become a pouring of oil to their already- burning issues.

Those builders who have due-payments will not be allowed to register flats in the name of flat buyers. As a result those who have booked flats in Noida and Greater Noida will be troubled.

According to the latest reports, available with the authority, the government has lost Rs.4000 Cr in the form of default payment. Around sixty developers have not paid back the due amount.

Speaking on the issue Mr. H K Verma, additional CEO at Greater Noida Authority, said that the authority will not issue completion certificate to the default developers. He added that layout plans also will not be approved.

Around sixty builders are to pay the two authorities Rs.6000 Cr. The list contains some of the top and well renowned developers.

Noida flat buyers see no rays of hope ahead.

Noida flat buyers see no ready to-move-in home ahead, but barren land.

Mr. Verma informed that the authority is forced to take such harsh stand. It has to find sufficient fund for compensating the farmers. On the other side the Authorities are facing a severe financial crunch now.

Considering the problems of the flat buyers, the Authorities were thinking of not passing any such orders. However now they have no option to tackle the situation in which the Authorities are to pay huge amounts to the farmers as compensation.

Several notices were issued to the default developers. However the builders did not take any action or take the notices seriously. This prompted the Authorities to take tougher stand against these builders. Whatsoever, always the burden is upon the poor home buyers. Their wait to own their dream homes seems to get longer with this new issue.

Noida Authority Warns The Default Developers

Noida Authority has recently found out that nearly fifty real estate developers are not paying the due payments to the Authority. It is estimated the government loses around Rs.3000 Cr due to the default buyers.

Many Builders are identified by Noida Authority as default payers.

Many Builders are identified by Noida Authority as default payers.

BSP government had made it a rule to pay a mere 10% of the total amount for attaining land parcels for ‘group housing’ projects. This scheme was introduced with a plan to make Noida an affordable home-destination. However, recently, the Noida authority has found out that many developers have stopped the payments.

Realizing that many developers have skipped paying off the amount prescribed by the scheme, three Gautam Budh Nagar Authorities plans to amend the scheme. Sources close to these authorities said that the amendment may be applied in their next board meeting. Continue reading

Noida – Greater Noida Metro Link Details Announced

Noida Authority, while announcing the details of proposed metro link between Noida and Greater Noida on last Friday, revealed that two more metro stations are added.

Noida metro link details announced

Noida metro link details are announced by the Authority.

While announcing the details of the proposed Noida – Greater Noida metro link, the officials said that two more stations are added in the proposed  metro line. The officials said that the population is increasing in the areas of Greater Noida and on the Expressway. Considering this growing population the Authority has decided to add two more stations in the line.

As per the available sources, the proposed 29.707 km long metro line will have 22 metro stations. The metro line will be passing through Noida Sectors – 32, 51, 83, 101, 143, 147, Alpha and Delta, Knowledge Park 2 and Pari Chowk. Continue reading

Real Estate Scam Worth Rs.3800 Cr Unearthed In Noida

Noida Authority has unearthed Real estate scam worth Rs.3800 Cr in Noida. The real estate scam occurred in 2011.

real estate scam shakes Noida

Real estate scam strikes Noida again.

Noida real estate is shocked as the Noida Authority unearthed a bigger real estate scam. The scam occurred while BSP was ruling the state. The BSP government had leased three lakh 81 thousand sq. m. land to three private companies and some individuals.

Noida Authority has already removed Nayab Tehsildar. Further, the authority has demanded the suspension of Noida’s additional district magistrate (land). Noida Authority is to file FIR against them. The investigation against them started soon after the BSP lost its reign. Real estate land scam took place in the year 2011.

Sources close to Noida Authority reveal that the scam involves three officials of higher grade. They are Harish Chandar, a PCS officer who was posted as secretary, Tahsildar Ajay Shrivastav and Nayab Tahsildar Manoj Kumar Singh. Continue reading

Noida Real Estate Relaxes As Farmers Call Off Strike

Noida real estate builders can now resume their halted work as farmers call off strike.

Farmers' Plea Authority Hears

Farmers’ Plea Authority Hears

Noida real estate builders had a deep breath as the Noida farmers have called off their strike. Earlier farmers had blocked the construction of many residential projects in Noida and Noida Extension. Continue reading

Supreme Court orders cooperative flat owners in Noida to register as per new circle rates.

NEW DELHI: Cooperative housing societies in Noida were dealt a major blow on Wednesday when Supreme Court ordered individual registration of their flats as per the prevailing circle rates. According to the Uttar Pradesh stamp department, the judgement would affect around 15,000 flat owners and leave the government richer by roughly INR 100 crore.

A special bench of justices Dalveer Bhandari and HS Bedi passed the direction while dismissing applications byArmy Welfare Housing Organisation and others challenging the Noida Authority’s decision to recover stamp duty on the basis of current rates. According to counsel Abha Sharma appearing for several flat owners, the decision would cause a liability ranging from Rs 2 lakh to Rs 3 lakh in stamp duty, which was the original cost of construction of houses in 1992. The high registration fees are a result of the real estate boom of the last decade. For instance, a three-bedroom flat in Noida that cost Rs 11 lakh just 10 years ago now costs at least Rs 60 lakh.

Shaken by the order, the affected societies on Wednesday said they would appeal to the court to review its decision.