Residents of several societies in Greater Noida West held a protest at Jantar Mantar over pending registries of their flats. Demand action on the pending registries and completion of stalled projects. Draw attention to the residents' plight and seek tangible progress.
The package would include reschedulement and zero-period policies to waive interest and penalties imposed for financial default, among others to enable the completion of stalled projects
The IBBI discussion paper has proposed keeping properties that are in the possession of homebuyers from the ambit of liquidation. It has also proposed mandatorily registering projects under the Real Estate Regulatory Authority.
GNIDA said that registries of 4,398 flats were executed last year between January 1 and September 30. According to estimates, currently there are 80,000 to 90,000 registries pending in Greater Noida on account of different reason including builder dues.
A meeting of senior officials last week also discussed partial surrender of projects to recover dues and introduction of zero period of four years. The state cabinet will take a final decision after consulting the Centre.