Jagran correspondent, Noida. With the aim of providing relief to home buyers and giving impetus to long pending residential projects, Noida Authority has taken an important decision. The authority has also decided to continue providing benefits under the Stalled Real Estate Projects Policy of the Uttar Pradesh government to builders who had not deposited the mandatory 25 per cent of the recalculated dues within the stipulated time limit.
This decision was taken in the board meeting of Noida Authority held on January 3. In the meeting, approval was given to carry forward the order of the state government issued on December 21, 2023, which has been approved by the cabinet. With this, the board reversed its earlier proposal, which had recommended withdrawal of all benefits of the policy from non-compliant builders.
Noida Authority CEO Dr. Lokesh M said that under the recommendation of Amitabh Kant, developers of 36 projects out of 57 projects took the benefit till December 31, 2025. Which is about 60 percent of the total developers. There are 4 such projects in which payment was not made even after their consent. There are 11 such developers. Through whom partial amount of 25 percent amount was deposited.
There are 36 such developers by whom no payment was made after depositing 25 percent of the amount. A total amount of Rs 872.12 crore was deposited in the authority. Due to which registration can be done in favor of 6855 flat buyers. Till now 4134 flat buyers have been registered, the board directed to get the registration done.
He said that since the policy of stalled projects is of the state government, it should not be withdrawn completely. Builders who are ready to pay the dues should be given an opportunity. The Board agreed that the cases of defaulting projects would be examined individually and then decided, rather than withdrawing all the benefits at once.
He said the board was told that at the time of implementation of the policy, registry of 21,034 flats in 57 projects was pending. Registration of 6,855 flats was allowed in proportion to the payments made by the developers. By December 31, 2025, 4,134 flats have been registered.