35 stalled projects get boost as Noida Authority greenlights Developments

NOIDA: The Noida Authority on Friday held it’s 219th board meeting approving key infrastructure and development works. A major highlight of the meeting was the progress update on the implementation of the Amitabh Kant Committee recommendations. It was revealed that 35 real estate projects—constituting nearly 60 per cent of all stalled projects—have benefited from the government’s special policy based on the committee’s report.

According to officials, 57 stalled projects were reviewed, of which 35 developers have deposited ₹528.13 crore by paying the mandated 25 per cent amount as per state government orders.

The authority also stated that 13 projects have made partial payments totalling ₹28.60 crore, while six projects have yet to comply with the prescribed conditions. In total, the authority has so far received ₹556.73 crore.

The Authority firmly stated that the deadline for availing the benefits of the government policy will not be extended further. Defaulters will now face recovery proceedings under the Authority’s rules. So far, registries have been completed for 3,724 homebuyers, and the remaining 5,758 will have their property registrations expedited soon.

The meeting was chaired by Authority Chairman and Uttar Pradesh Additional Chief Secretary, Deepak Kumar, and attended by Noida Authority CEO Lokesh M, as well as CEOs of Greater Noida and Yamuna Expressway authorities. Other key decisions focused on real estate, incomplete projects, environmental improvements, and management of notified land within the Authority’s jurisdiction.

In another major decision, the board resolved to cancel group housing and residential plots that have seen no construction in the past 12 years. For partially constructed plots, developers have been given a final six-month window to obtain completion certificates.

To curb pollution, the board approved a new technology-based treatment plan for 24 major drains across Noida, aimed at reducing pollutants flowing into the Yamuna River.

Additionally, to strengthen local security infrastructure, the board approved the allocation of a 4,000 sq. metre plot in Sector 143 for a new police station, allotted at a nominal rate of ₹1 per year.