The UP state govt will set up special camps every Sundays to expedite registry of flats in projects whose developers have agreed to clear their recalculated dues under the rehabilitation package based on the recommendations of a panel headed by former Niti Aayog member Amitabh Kant.
Officials said those who fail to attend the Sunday camps could get the registries executed at the office of the stamps and registry department on other days of the week.
The developers of around 40 projects in Noida and Greater Noida have so far accepted the govt deal, under which they will be offered a two-year zero-period waiver on interests and fines incurred during Covid pandemic. But these developers will have to pay 25% of their recalculated dues upfront.
BS Verma, assistant inspector-general of stamps and registry in Noida, said the decision to set up camps was taken at a meeting with Noida Authority officials.
“We were told that the registry of flats will increase, with developers slowly coming forward to sign up for the govt package. We have written to the Noida Authority, asking it to inform us about the number of developers who have been granted NOCs by them so that registries can be executed without any delay,” he added.
The move, Verma said, will be a significant boost for the department, which has been set a revenue target of Rs 4,728 crore from Noida itself for this fiscal. By Dec last year, the department had collected Rs 2,662 crore — more than 50% of the target. It has so far registered 10,659 flats against 11,447 through the previous financial year.
However, one of the concerns for the Noida Authority is the lukewarm response from builders a month and a half after the govt package’s rollout. Of the 57 realtors who were in the pool for the package, only 13 have so far handed over consent letters to the Authority.
Ten companies with maximum dues, including Aims Max Gardenia (Rs 1,600 crore), Omaxe (Rs 490 crore), Pan Realtors (Rs 380 crore), have neither attended any meeting of the Noida meetings nor applied for a reschedulement of dues.
The Noida Authority has now given the realtors time till Feb 22 to inform it about their stand on the package, saying it could not wait forever for a consent. After this date, officials said, it would be assumed that they did not agree with the conditions and would need to pay the entire dues.
