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Central Committee To UP: Allow Flats Registry Even If Dues Are Not Cleared By Builders

Priya Singh 20 Nov 2023 245 Comment

The Uttar Pradesh government will then give its final approval to the report either in its original form or after changes are made to make it more effective The new report suggests that the authorities must focus on making sure the buyer gets flat possession, and registry is executed and then they can recover their dues later A central committee, headed by former Niti Aayog chief executive officer Amitabh Kant and mandated to formulate an effective policy that can address the issues being faced by the real estate sector across the country,in its report has recommended to the Uttar Pradesh government that the three authorities -- Noida, Greater Noida and the Yamuna Expressway-- should allow registry of flats without asking the defaulter developers to clear land cost dues against a housing project. The committee made multiple recommendations to the Uttar Pradesh government that it will look into and take appropriate decisions, which will impact the fortunes of at least 167,000 homebuyers who have been waiting for their homes for almost a decade. This committee on Monday sent the report to the Uttar Pradesh government that on Thursday sent the same to the three authorities for deliberation and action. The top officials of Noida, Greater Noida and Yeida said the report will be discussed, tweaked and a decision taken on it in the board meetings of the three authorities. The Uttar Pradesh government will then give its final approval to the report either in its original form or after changes are made to make it more effective. We will discuss the report in the upcoming board meeting scheduled on August 13 and take an appropriate decision. We will follow the UP government’s directive on its implementation,” said Lokesh M, chief executive officer, Noida authority. The new report suggests that the authorities must focus on making sure the buyer gets flat possession, and registry is executed and then they can recover their dues later. Also, the report said the developer cannot levy any penalty for delay payment penalty on homebuyers who have already been harassed by developers. The Kant report has suggested that Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) must identify projects that are complete but for which occupancy certificate is not being issued only because the developer has financial dues.