Greater Noida Authority facilitates 5,000 registries, generates Rs 100 crore revenue

Over the last four months, the Greater Noida Industrial Development Authority (GNIDA) has successfully processed nearly 5,000 registries across more than 20 housing projects. This initiative followed developers settling their dues and obtaining occupation certificates, contributing a substantial Rs 100 crore in revenue. GNIDA CEO Ravi Kumar NG highlighted that stamp duty payments from these transactions for the state government amounted to Rs 150 crore.
To enhance efficiency, GNIDA employed a flat-wise registration system, ensuring smooth ownership rights for homebuyers upon developers' paying their dues. The Authority proactively addressed homebuyer concerns through camps at its office, with registration department officers tailoring the process for each project.
Previously, GNIDA published a list of developers clearing their dues and instructed them to execute tripartite lease deeds with homebuyers and the Authority. Anticipating relief for stalled projects, GNIDA officials disclosed the state government's upcoming rehabilitation package, aligning with recommendations from the central government-appointed Amitabh Kant expert panel. These recommendations propose delinking developer dues from the flat registry when integrated into the rehabilitation package. This offers substantial relief to homebuyers.
However, until that gets implemented, the Authority remains committed to resolving builder-buyer issues within existing policies. In Greater Noida, there are 191 new housing projects, with 62 settling dues, 36 entangled in legal disputes, and 93 facing defaults. Across these projects, totalling 2.6 lakh units, 1.2 lakh units have received completion certificates. GNIDA has completed registries for over one lakh flats and plans to extend similar camps to institutional, industrial, and commercial allottees.
The successful execution of registries underscores GNIDA's dedication to addressing concerns, streamlining processes, and facilitating ownership rights for homebuyers. As the state government prepares a rehabilitation package, the Authority remains proactive in ensuring smooth operations and resolving issues across diverse housing projects. The upcoming camps for other sectors further emphasize GNIDA's commitment to comprehensive solutions and efficient governance in the real estate sector.

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Greater Noida Authority facilitates 5,000 registries, generates Rs 100 crore revenue

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