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Pro-rata registry of flats likely as UP govt promises solution | Noida News


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NOIDA: The chief secretary and other senior officials of the UP government assured homebuyers on Saturday that they would come up with a plan to execute registries and resolve other such legacy issues within a week.
As an interim arrangement to provide immediate relief to buyers, the senior officials asked the Noida and Greater Noida authorities to prepare a payment plan linked to SBI MCLR (marginal cost of funds-based lending rate) so that the dues of developers could be calculated.
The assurance came at a time a contempt petition by four developers over the calculation of dues and a review plea by the Noida Authority is being heard by the Supreme Court. “The registries will be executed with a rider that the final amount will be decided in keeping with the Supreme Court’s decision. But for now, the registry process needs to be expedited on a pro-rata basis,” said Arvind Kumar, additional chief secretary (industries). ....

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