Uttar Pradesh Chief Minister Yogi Adityanath has been pursuing builders in Noida to adhere to regulations and deliver their projects to home buyers on time. He has also warned of tough action against the laggards.
The Greater Noida Industrial Development Authority (GNIDA) is now working to deliver 10,000 flats to homebuyers by the end of December this year.
Recently it has issued occupancy certificates to 1,000 flats in two projects. To ensure speedy possession, it would be deducting the occupation certificate charges from the amount already paid by the developer.
To speed up property transfer the registry of pending flats would be completed when the builder pays the remaining amount. This ensures that developers facing financial crunch could offer possession to buyers and thereby helping address the developer’ cash flow problems.