The Uttar Pradesh Real Estate Regulatory Authority has recommended to the state government that the registry of flats in completed real estate projects should be delinked from the dues builders owe to the Noida and Greater Noida authorities so that homebuyers can get relief.
A stalemate between development authorities and builders over Rs 39,000 crore land dues has kept nearly 40,000 homebuyers in the two cities waiting for the registry of their flats for years.
In its report on the status of real estate projects and measures to revive them, UP-Rera suggested Noida and Greater Noida authorities have the power to recover dues by seeking security in other projects or personal assets of the developers, or by issuing recovery certificates.
Posted By
Ruchi Mane
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Ruchi Mane is the Senior Editor at Houssed, leading the platform’s real estate news coverage. She tracks trends in India’s luxury property market while overseeing editorial strategy, PR outreach, and social media communication.