Greater Noida: Aiming to benefit nearly 75,000 homebuyers stuck in as many as 117 residential projects, the Greater Noida Industrial Development Authority (GNIDA) board has taken important decisions to end their woes and provide them homes, said officials on Tuesday.
The decision was taken by GNIDA’s 133rd board meeting held under the chairmanship of Industrial Development Commissioner and Chairman of Noida-Greater Noida Authority Board, Manoj Kumar Singh, GNIDA CEO Ravi Kumar NG and Noida authority CEO Lokesh M on Tuesday.
As per officials, the authority board has approved to adopt the government order issued on implementing the recommendations of the Amitabh Kant Committee. Notably, the homebuyers have been demanding implementation of suggestions made by the Amitabh Kant Committee which are focused to protest their interests who have been awaiting the registry and completion of their housing projects for years.
On August 21, a 14-member committee chaired by former NITI Aayog CEO and India’s G20 Sherpa, Amitabh Kant,submitted its report after examining stalled real estate projects and recommending ways to complete them. The report was handed over to Union Housing and Urban Affairs Minister Hardeep Puri.
“With this, builders will be able to avail the benefit of zero period for completion of projects, time period for deposit of dues, mortgage permission, purchase of prevailing FAR, extension of time for completion of project, while flat buyers will get the benefit of registration in next three months” said a senior GNIDA officer.
Under the zero period policy, builders will be given the benefit during Covid pandemic from April 1, 2020 to March 31, 2022. Apart from this the benefit of zero period will also be available from August 14, 2013 to August 19, 2015 within a 10-km radius of Okhla Bird Sanctuary on the orders of NGT.