Under the zero-period waiver, interest and penal interest will not be levied on the builder for a specified period of two years, and the installments will be shifted beyond it.
The report observed that homebuyers favoured apartment sizes exceeding 1,250 sq ft, contributing to 54.5 percent of the total demand and more than 50 percent homebuyers sought properties in the range of Rs 5,000-7,500 per sqft
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.