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Noida Authority revises CC policy for builders

Noida Authority revises   CC policy for builders
Noida: Chief Executive Officer of Noida Authority Amit Mohan Prasad on Thursday said that they have revised their policies of providing the completion certificates (CC) to the builders against their constructed projects.
According to the scheme, those builders who have their land dues to the authority but have completed the construction work at their projects will be given an opportunity to obtain a temporary completion certificate by paying 10 per cent of their total land dues.
"If the builder has completed the construction of their projects and have taken no objection certificate from various departments, they will be given an opportunity to pay 10 per cent of the total land dues in order to get a temporary completion certificate. Once the payment is done, the certificate will be given for a certain number of flats and not for all the flats in the project," said Prasad.
Further elaborating the scheme, Prasad said, "If there are 10 towers in a project and the builder has Rs 100 crore as land dues to the authority, he has to make a payment of Rs 10 crore in order to obtain a temporary completion certificate for five towers".
The revised policy will be applicable from September 1 to November 30.
"We want the developers to come forward for the property registration. Once they file a fresh application of obtaining the completion certificate, the authority will demand the remaining 65 per cent of the land due. As the developer pay remaining 65 per cent of the land dues for this specific area, the authority will allow registry of the flats in the area," Prasad added.
As of now, the developers had to pay the land dues to authority in order to obtain completion certificate against their project. The authority could not issue CC to developers if they have failed to pay their dues. This has also been one of the major reasons of the delay in possession over flats.
But now the authority has made certain changes in its policies and the builder can start the process of providing possession to the buyers by paying just 10 per cent of the total due amount.
According to the senior authority officials, the authority is focused to provide relief to over twenty thousand homebuyers of 39 projects in the city who have been facing delay in getting possession over their flats.
Once the completion certificate is issued, the home buyers will get the possession and registry of their flats faster.
"Out of the 86 ongoing projects in Noida, the developers have demanded completion certificates for 50 projects from Noida Authority," the officer said.
Rahul Singh

Rahul Singh

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