About 5,000 registries across 20 projects in past four months: Greater Noida development body

NOIDA: The Greater Noida Industrial Development Authority (GNIDA) has executed nearly 5,000 registries in the past four months after developers of more than 20 housing projects settled their dues and obtained occupation certificates from the Authority. GNIDA CEO Ravi Kumar NG said that the registries generated a revenue of Rs 100 crore, while the stamp duty payments from those transactions amounted to Rs 150 crore for the state government. GNIDA officials said that the Authority followed a flat-wise registration system to streamline the process, granting ownership rights to homebuyers after developers paid their dues.

The GNIDA conducted camps at its office to address the issues faced by homebuyers, and the registration
department officers ensured a smooth registration process tailored to each project. Earlier, GNIDA had published a list of developers who had cleared their dues. It had also instructed those
developers to execute tripartite lease deeds among themselves, homebuyers, and the Authority. GNIDA officials said that the state government will soon announce a rehabilitation package for developers of stalled projects in the city based on a report by the central government-appointed Amitabh Kant expert panel.

The panel’s recommendations include delinking developer dues from the flat registry if the project gets
integrated into the rehabilitation package. That, officials said, would significantly alleviate the concerns of homebuyers. However, until that gets implemented, the Authority has been focusing on resolving all builder-buyer
issues in line with the existing policies. In Greater Noida, there are 191 new housing projects. Out of these, 62 have settled their dues, 36 remain
stuck in various courts, and 93 are defaulting. There are 2.6 lakh units across these 191 projects, with 1.2 lakh units already granted completion certificates. Of these completed units, GNIDA has completed the registries for over one lakh flats.

Now, the Authority is planning to conduct similar camps for institutional, industrial, and commercial allottees.