Noida Authority is poised to enable the registration of more than 13,000 flats across various stalled projects, as 35 real estate developers have stepped forward to settle their dues under the Uttar Pradesh government’s rehabilitation package for stalled projects.
According to officials, out of the 57 developers involved, 35 have agreed to pay the initial 25 percent of their total dues, which have been recalculated following the implementation of the rehabilitation package benefits.
“The well-being of homebuyers is our utmost concern at the Authority. Consequently, we have been engaging in discussions with developers of stalled projects to encourage them to settle their dues, thereby enabling registrations to proceed,” shared a senior official on condition of anonymity.
The official further stated that the Authority has authorized the execution of registrations for approximately 13,000 apartments across 35 stalled housing projects. It is anticipated that the Authority will receive over Rs 500 crore from the initial payments made by developers.
