According to officials, investors are flocking to Gautam Buddh Nagar, especially the YEIDA and Greater Noida region, in view of the upcoming Noida International Airport in Jewar and the Film City project
The National Real Estate Development Council-Uttar Pradesh (NAREDCO-UP) has urged the district magistrate of Gautam Budh Nagar to not initiate coercive recovery action prompted by the Noida, Greater Noida and Yamuna Expressway Authorities as also by Uttar Pradesh Real Estate Regulatory Authority (UPRERA), until the resolution on the basis of the findings and recommendations of the Amitabh Kant Committee.
Builders owe an estimated Rs 40,000 crore, including premium, interest and penal interest against allotted plots on which real estate projects are in different stages of execution.