The Greater Noida Industrial Development Authority (GNIDA) is gearing up to take action against developers who give flats to homebuyers without completing the mandatory registration process. Officials said there are plans to issue notices to such builders soon.
In an ongoing survey of group housing projects by financial consultant Curie & Brown, several such cases have come to light. The consultant has so far surveyed 24 projects. According to the Authority, there can be no flat registration until builders settle their dues and obtain occupancy certificates.
“Some flat buyers choose to occupy their units without completing the registration process, which has allowed builders to evade legal requirements and grant unauthorised possession to buyers. However, till the flats are officially registered, buyers will not obtain full ownership rights. We aim to ensure that builders comply with necessary procedures and that homebuyers receive their rightful ownership rights legitimately and transparently,” said GNIDA OSD Soumya Srivastava.
Officials recently presented the Curie & Brown report before GNIDA CEO Ritu Maheshwari, who then directed the builder department to issue notices to builders of all such projects. The CEO also ordered the cancellation of allotments to builders who take possession of vacant areas but do not start projects on time.
GNIDA last month directed Currie and Brown to assess the construction status of plots allocated to real estate builders. Apart from identifying defunct projects, the survey will evaluate under-construction projects and explore the possibility of including them under the co-developer policy that the GNIDA is considering now.
The Yamuna Expressway Industrial Development Authority (YEIDA) is all set to introduce a ‘plot relocation policy’ to address issues related to delay in offering possession to allottees due to land disputes. Officials said the policy would be discussed and approved during the YEIDA board meeting on June 16.
YEIDA CEO Arun Vir Singh said the new policy would allow the authority to relocate plots to other locations unaffected by land disputes, likely bringing relief to hundreds of buyers across residential, industrial and commercial categories.
Officials said that by facilitating plot relocation, YEIDA hopes to expedite the process and enable the development of pending projects.