Registry To Dues, New Greater Noida Ceo Assures Credai Of A Policy Soon, ET RealEstate

July 19, 2023

NOIDA: The newly appointed CEO of the Greater Noida Authority on Tuesday met officials from the Confederation of Real Estate Developers’ Associations of India (Credai) to discuss builder and buyer issues, including flat registration, completion certificates, and the settlement of long-pending dues.

CEO Ravi Kumar NG, a 2004-batch IAS officer, told Credai officials that policies were being developed at both the government and authority levels to address these concerns and an official announcement was likely soon.

“We will make every effort to transparently resolve the issues at hand,” Kumar said.

Credai chairman Manoj Gaur said the primary focus of their discussions was on the welfare of end-users, specifically homebuyers. “There are two categories of homebuyers: those who have acquired flats but are facing registry delays, and those who are still awaiting possession of their flats. We apprised the CEO about the varied challenges faced by builders, including issues such as farmer compensation, pending dues, time extensions, co-developer agreements, dues rationalization, and ongoing litigations.”

Gaur sought de-linking of completion certificates from financial issues, like builder dues. “The move would aid in the resolution of several UP-Rera cases. We also urged against taking coercive action against developers in cases where the court has granted a stay. Implementing the changes will bring about tangible improvements,” he said.

Additionally, the GNIDA CEO said officials have been directed to develop a comprehensive plan to alleviate persistent traffic congestion issues in Greater Noida and Greater Noida West. He promised significant relief before the upcoming G-20 summit, scheduled to be held in Greater Noida in September. An allocation of Rs 9 crore has been made to address waterlogging problems in Greater Noida, aiming to mitigate challenges faced by residents in the area.

Prior to his appointment at GNIDA, Kumar served as the divisional commissioner of Gorakhpur for over two years.

  • Published On Jul 19, 2023 at 08:58 AM IST

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