Seven months after the Uttar Pradesh government approved a new package to resolve stalled real estate projects, the registration process for thousands of flats in Greater Noida remains stalled. This delay is primarily due to 16 major builders, responsible for approximately 38% of the total land dues, failing to pay the required 25% of their outstanding dues to the Greater Noida Industrial Development Authority (GNIDA), according to officials.
The package, introduced in March by the Union Housing and Urban Affairs Ministry, includes several relief measures for builders, such as a two-year zero-period waiver, which effectively reduces the total outstanding land dues by 20% due to the Covid pandemic. However, the package stipulates that flat registrations can only commence once builders have cleared 25% of their outstanding land dues within 60 days of the package’s implementation.
Currently, around 85,000 flat registrations are pending within GNIDA’s jurisdiction, with only 4,000 flats having been successfully registered. The 16 builders involved are responsible for a combined net land dues amounting to ₹1,272 crore after accounting for the zero-period benefit, which is 38% of the total land dues of ₹3,413 crore. This means the 25% due from these builders totals ₹289 crore. Officials noted that issues such as ongoing court cases, disputes over dues, and re-evaluations have contributed to the delay. One builder has a court case concerning a stay on a recovery certificate, another has requested a review of the dues, and a third’s dues are under re-evaluation.
In response, GNIDA is preparing a comprehensive list of these defaulting builders and their properties for potential actions, including the cancellation of plots and attachment of assets under the package terms, said the Officer on Special Duty (Builders), Greater Noida Authority. Out of the 98 builders included in the plan, 52 have complied with the payment requirements. As a result, the GNIDA expects to receive ₹1,400 crore from these builders, including the 25% dues, in instalments. This will facilitate the delivery of 37,957 housing units across 65 projects (including 13 projects with no dues and 52 others) in the coming years. Efforts are being made to expedite the registration process and resolve the backlog.
