Round two months because the registry started in Noida and Higher Noida beneath the Amitabh Kant aid package deal, solely 3,167 flats have been registered to date.
Knowledge obtainable with the authorities present a complete of 530 flats in Noida authority and a couple of,637 flats in Higher Noida Authority have been registered.
The Kant package deal offers numerous waivers to the builders together with a two-year zero-period aid, taking into consideration Covid pandemic, which interprets into round 20% waiver of the overall excellent land dues.
Beneath the zero-period waiver clause, curiosity and penal curiosity won’t be levied on the builder for 2 years, and the installments might be shifted past it. Nevertheless, there’s a provision that registration of flats might start after the builder pays 25% of the excellent quantity (land dues) inside 60 days.
On Could 6, Manoj Kumar Singh, Infrastructure & Industrial Growth Commissioner, who’s the chairman of each the authorities, wrote to the CEOs asking for the standing report on the implementation of the package deal.
“Builders who haven’t paid the 25% quantity of the web dues needs to be reminded that the 60-day interval to pay it’s ending on so and so date. After this, the Covid-19 aid package deal will expire…On this regard, the opposite provisions of the notification like cancellation, attachment of the builder’s properties will come into pressure,” stated Singh in his letter.
A complete of 57 build-ers — this doesn’t embody initiatives in NCLT/courts — have been included beneath the plan by the Noida authority. Of those, builders of 43 initiatives have given the consent for the scheme. Nevertheless, solely 20 builders have paid the required 25% of the dues (170.77 crore) to date. Other than this, 4 builders have paid a partial quantity of 25% of dues. Officers stated {that a} complete of 18 builders have been given the final probability to pay the dues as quickly as potential.
There are a complete of round 32,000 stalled flats in Noida, that are lined beneath the package deal and are awaiting registration. Equally, the Higher Noida authority information reveals {that a} complete of 99 initiatives, having a complete of 1.02 lakh models, have been roped in beneath the plan whereas 68,563 models are awaiting sub-lease deed (Registry) execution. There are 41 initiatives in Higher Noida by which the required dues haven’t been paid. Officers stated in a gathering with the builders, the CEO directed them to pay the dues in a single week failing which penal motion might be taken.
Dinesh Gupta, Secretary, CREDAI (Western UP), stated that a few of the builders couldn’t organize cash because of the elections as they have been unable to safe funds from the banks. “Those that have given consent wish to pay the dues…Nevertheless, there are some builders whose dues are in tons of of crores and they’re arranging cash by way of alternative ways, together with the banks. We’ve got sought a time extension until July 31. The authority stated that they are going to resolve on this after the Could 16 assembly,” stated Gupta.